Director/PDMR Shareholding

RNS Number : 7690F

City of London Investment Group PLC

30 October 2018

 

30 October 2018

CITY OF LONDON INVESTMENT GROUP PLC

("City of London", "CLIG", "the Group" or "the Company")

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

Thomas Griffith, an Executive Director and a person discharging managerial responsibilities ("PDMR") of City of London Investment Group PLC (LSE: CLIG),  has been awarded 76,492 Restricted Share Awards (the "Award") comprising 76,492 ordinary shares of £0.01 each in the Company ("Ordinary Shares") from the Employee Benefit Trust (the "EBT") under the Company's Employee Incentive Plan (the "EIP").  Of these, 38,246 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 38,246 Ordinary Shares representing an additional award made by the Company as a reward for participating in the EIP ("Bonus Shares"). The cost to Mr Griffith was £3.873 per Deferred Share and nil cost per Bonus Share. The Deferred Shares and Bonus Shares awarded under the EIP carry certain restrictions which will lift on vesting of the Award.  For further details of the EIP scheme please refer to CLIG's latest annual report and accounts.

Following the grant of the Award, Mr Griffith's beneficial interest is 404,471 Ordinary Shares, representing approximately 1.5% of the Company's issued share capital.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Thomas Griffith
2	Reason for the notification
a)	Position/status	COO/Deputy CEO
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	City of London Investment Group plc
b)	LEI	549300BV85TFYXK2Y635
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 Identification code	Ordinary Shares of £0.01 each ISIN: GB00B104RS51
b)	Nature of the transaction	Grant of an award under the Company's Employee Incentive Plan (EIP) approved by shareholders in 2016.
c)	Price(s) and volume(s)	Price No. of shares 1.    £3.873 2.    Nil cost 1.    38,246 2.    38,246
d)	Aggregated information - Aggregated volume - Price	76,492 Ordinary Shares Average price: £1.9365
e)	Date of the transaction	26 October 2018
f)	Place of the transaction	London Stock Exchange

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

Barry Olliff, CEO

City of London Investment Group PLC

Tel: [phone]

Martin Green

Zeus Capital Limited

Financial Adviser & Broker

Tel: [phone]

 

END

 

 

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