European Opportunities Trust PLC (EOT)

ORD 1P

Sell: 813.00p|Buy: 820.00p|Change: 7.00 (-0.85%)

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European Opportunities Trust starts review; River Global offers exit

European Opportunities Trust starts review; River Global offers exit 2026-02-13T10:14:08+0000

(Alliance News) - European Opportunities Trust PLC on Friday said it has started a strategic review of its future, warning it is unlikely to meet the conditions for its performance-related tender offer later this year.

The board says it will consider options including a possible combination with another closed-ended fund, a cash exit at close to net asset value, and a proposal from River Global PLC, the parent of its investment manager Devon Equity Management, for a roll-over into a proposed open-ended investment company with a similar strategy.

River Global separately on Friday confirmed it has presented an outline proposal for a reconstruction of European Opportunities that would include a full cash exit at close to net asset value.

European Opportunities Trust shares were up 2.3% to 865.72 pence early Friday in London. The stock is down 2.8% over the past 12 months.

River Global shares were down 2.9% to 4.18p on Friday, and are down 30% in the past year.

European Opportunities said its board has pro-actively taken steps in the past three years to enhance shareholder value, including share buybacks, tender offers and a reduction of management fees. Over that three-year period, net asset value is up 17% and the share price up 25%.

NAV per share was 990.68 on January 31, up 2.8% on the month but down 1.2% over the prior six months. The share price discount to NAV was 6.7% on that date.

It noted its three-yearly continuation vote will be held at this year's annual general meeting, which the company in 2025 held in October.

River Global, which acquired Devon Equity Management only last year, said it is in "constructive dialogue with European Opportunities and its advisers".

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

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