REG - City of Lon Inv Grp - Director/PDMR Shareholding

City of London InvestmentAnnouncement

31/10/2019 15:45

RNS Number : 8667R
City of London Investment Group PLC
31 October 2019
 


31 October 2019
 
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.
 
Tracy Rodrigues, an Executive Director and a person discharging managerial responsibilities ("PDMR") of City of London Investment Group PLC (LSE: CLIG), has been awarded 18,250 Restricted Share Awards (the "Award") comprising 18,250 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, 9,125 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 9,125 Ordinary Shares representing matching awards by the Company ("Bonus Shares") under the terms of the Plan. The cost to Ms Rodrigues was £4.258 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, Ms Rodrigues' beneficial interest is 195,297 Ordinary Shares, representing approximately 0.7% 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


Tracy Rodrigues




2


Reason for the notification




a)


Position/status


Finance Director




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.    £4.258
2.    Nil cost
 


1.    9,125
2.    9,125
 








d)


Aggregated information
- Aggregated volume
- Price


 
18,250 Ordinary Shares
 
Average price: £2.129




e)


Date of the transaction


26 October 2019




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: 001-610-380-0435
 
Martin Green
Zeus Capital Limited
Financial Adviser & Broker
Tel: +44 (0)20 3829 5000
 
 




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