Director/PDMR Shareholding

RNS Number : 4935D

City of London Investment Group PLC

28 October 2020

 

28 October 2020

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 40,120 Restricted Share Awards (the "Award") comprising 40,120 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, 20,060 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 20,060 Ordinary Shares representing matching awards made by the Company ("Bonus Shares") under the terms of the Plan. The cost to Mr. Griffith was £4.028 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 at https://www.citlon.com/investor-relations/investor-reports/CoL2020AR.pdf.

Following the grant of the Award, Mr. Griffith's beneficial interest is 492,877 Ordinary Shares, representing approximately 1.0% 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	Chief Executive Officer
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).
c)	Price(s) and volume(s)	Price No. of shares £4.028 Nil cost 20,060 20,060
d)	Aggregated information - Aggregated volume - Price	40,120 Ordinary Shares Average price: £2.014
e)	Date of the transaction	26 October 2020
f)	Place of the transaction	London Stock Exchange

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

Tom Griffith, CEO

City of London Investment Group PLC

Tel: [phone]

Martin Green

Zeus Capital Limited

Financial Adviser & Broker

Tel: [phone]

 

END

 

 

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