Endowment of Foundation by Executive Director

RNS Number : 7232W

City of London Investment Group PLC

30 January 2013

 

30 January 2013

CITY OF LONDON INVESTMENT GROUP PLC

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

ENDOWMENT OF FOUNDATION BY EXECUTIVE DIRECTOR

City of London Investment Group PLC (LSE: CLIG) announces that Barry Olliff, Chief Investment Officer, has endowed a foundation in the United States, the Newlin Foundation ("the Foundation"), dedicated to assisting  students in the community surrounding City of London's US office in Coatesville, Pennsylvania to attain post secondary education at a College or University. The endowment of the Foundation by Barry will take the form of a gift of 732,580 shares in City of London from his personal holding. This is the second gift of its kind from Barry to the Foundation, having gifted 500,000 shares to the Foundation in December 2010.

The Newlin Foundation is entrusted under the auspices of the Chester County Community Foundation, a charitable 501(c) 3 foundation headquartered in West Chester, Pennsylvania, US.

Following the transfer of 732,580 shares on 28 January 2013, Barry Olliff's interest in the Company is 3,000,000 shares, representing 11.14% of the issued share capital.

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

Doug Allison (Chief Executive Officer)    City of London Investment Group PLC	Tel: [phone]
Martin Green / Lucy Tilley Canaccord Genuity Limited	Tel: [phone]

 

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