River and Mercantile : Director/PDMR Shareholding

13 November 2019

LEI: 2138005C7REHURGWHW31

River and Mercantile Group PLC (the 'Company')

NOTIFICATION OF TRANSACTIONS OF

PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs')

LONG TERM INCENTIVE AWARDS ('LTIA')

GRANT OF AWARDS

Grant of awards under the River and Mercantile Group PLC Deferred Equity Plan (the 'DEP').

The Company announces that on 12 November 2019 James Barham, Group Chief Executive, and Jack Berry, Global Head of Complex Clients, both PDMRs, were granted conditional awards of Ordinary Shares in the Company under the DEP (the '2019 LTIA').

The 2019 LTIA are subject to a performance condition with an underpin target based on growth in basic underlying adjusted earnings per share. If this is achieved in aggregate over a three-year performance period, then separate and additional business performance criteria apply to determine the extent to which the 2019 LTIA will vest. The performance period for the 2019 LTIA is for the three financial years measured from 1 July 2019, with a further two-year holding period ending on 30 June 2024.

The number of shares was calculated using a market price of 253.08p per share, being the three-day volume weighted average price for the period 7 November 2019 to 11 November 2019.

Name of individual	Title	Number of shares granted under 2019 LTIA
James Barham	Group Chief Executive - Director	569,170
Jack Berry	Global Head of Complex Clients - Director	227,391

The 2019 LTIA are subject to continued employment throughout the three-year performance period. During the holding period dividends are payable on any vested award shares reinvested in shares at the ex-dividend date.

Formal notification in respect of the PDMRs is set out below in accordance with the requirements of the Market Abuse Regulation.

Sally Buckmaster

Group Company Secretary

River and Mercantile Group PLC

For further information please contact:

River and Mercantile Group PLC[phone]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Barham
2	Reason for the notification
a)	Position/status	Group Chief Executive - Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	River and Mercantile Group PLC
b)	LEI	2138005C7REHURGWHW31
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of £0.003 pence each
	Identification code	GB00BLZH7X42
b)	Nature of the transaction	Grant of LTIA in form of contingent award shares under the River and Mercantile Group PLC Deferred Equity Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			GBP 0.00	569,170
d)	Aggregated information
	- Aggregated volume	569,170
	- Price	GBP 0.00
e)	Date of the transaction	12 November 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jack Berry
2	Reason for the notification
a)	Position/status	Global Head of Complex Clients - Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	River and Mercantile Group PLC
b)	LEI	2138005C7REHURGWHW31
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of £0.003 pence each
	Identification code	GB00BLZH7X42
b)	Nature of the transaction	Grant of LTIA in form of contingent award shares under the River and Mercantile Group PLC Deferred Equity Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			GBP 0.00	227,391
d)	Aggregated information
	- Aggregated volume	227,391
	- Price	GBP 0.00
e)	Date of the transaction	12 November 2019
f)	Place of the transaction	Outside of a trading venue