Director/PDMR Shareholding

RNS Number : 6593L

City of London Investment Group PLC

06 September 2012

 

6^th September 2012

 

 

CITY OF LONDON INVESTMENT GROUP PLC

("City of London" or "the Company")

Directors' Share Dealings

City of London (LSE: CLIG), a leading emerging markets asset management group, announces that two Directors, Non-executive Director David Cardale and Finance Director and Chief Executive Designate Doug Allison, have yesterday disposed of beneficial interests* in a total of 153,125 shares in the Company in order to fund personal property projects.  The shares were placed by Singer Capital Markets with institutional investors at a price of 325p per share.

The disposals and the resultant beneficial interests of David Cardale and Doug Allison in the Company are shown below:

Director	Disposal	Resultant holding	% of issued share capital
David Cardale	53,125	53,125	0.20%
Doug Allison	100,000	314,375	1.17%

In addition to his direct holding in the Company set out above, Doug Allison holds options over 51,000 ordinary shares in City of London.

Apart from the stated intention of Barry Olliff to sell shares at specific prices significantly higher than the current market price, no Director of City of London, including Doug Allison and David Cardale, has any current intention to reduce his or her holdings.

*Doug Allison's beneficial interest is in shares which are registered in the name of his wife, Phillipa Allison.

For further information, please visit www.citlon.co.uk or contact:

Doug Allison (Finance Director)	Simon Hudson / Kelsey Traynor
City of London Investment Group Plc	Tavistock Communications
Tel: [phone]	Tel: [phone]
Jonny Franklin-Adams / Nick Donovan	Martin Green
Singer Capital Markets Limited	Canaccord Genuity Limited
Financial Adviser & Joint Broker	Joint Broker
Tel: [phone]	Tel: [phone]

-ends-

 

END

 

 

RDSBQLFBLKFLBBB