Director/PDMR Shareholding

Ruffer Investment Company Limited

LEI: 21380068AHZKY7MKN047

Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs") and Connected Persons

22 January 2018

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Ashe Windham
b)	Position / status	Non-Executive Director and PDMR of Ruffer Investment Company Limited
c)	Initial notification / amendment	Initial Notification
2.	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	Redeemable participating preference shares  GB00B018CS46
b)	Nature of the transaction	Acquisition of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 238.39p 10,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	22 January 2018
f)	Place of the transaction	London Stock Exchange
g)	Currency	GBP – British Pound

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	Arabella Windham
b)	Position / status	Notification concerns a PCA of Ashe Windham who is a non-executive director of Ruffer Investment Company Limited and a PDMR
c)	Initial notification / amendment	Initial Notification
2.	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	Redeemable participating preference shares  GB00B018CS46
b)	Nature of the transaction	Acquisition of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 238.39p 5,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	22 January 2018
f)	Place of the transaction	London Stock Exchange
g)	Currency	GBP – British Pound

Enquiries
Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
PO Box 255, Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

 [phone]