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Sector
Financials
Size
Small Cap
Market Cap £112.2m
Enterprise Value £101.7m
Revenue £31.9m
Position in Universe 946th / 1841

City of Lon Inv Grp - Director/PDMR Shareholding

Thu 31st October, 2019 3:42pm
RNS Number : 8670R
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.

 

Thomas Griffith, an Executive Director and a person discharging managerial responsibilities ("PDMR") of City of London Investment Group PLC (LSE: CLIG),  has been awarded 27,786 Restricted Share Awards (the "Award") comprising 27,786 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, 13,893 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 13,893 Ordinary Shares representing matching awards made by the Company ("Bonus Shares") under the terms of the Plan. The cost to Mr Griffith 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, Mr Griffith's beneficial interest is 440,257 Ordinary Shares, representing approximately 1.7% 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

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) approved by shareholders in 2016.

 

c)

Price(s) and volume(s)

 Price

No. of shares

1.    £4.258

2.    Nil cost

 

1.    13,893

2.    13,893

 

d)

Aggregated information

- Aggregated volume

- Price

 

27,786 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

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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