REG - City of Lon Inv Grp - BOARD CHANGES

City of London InvestmentAnnouncement

26/05/2023 16:00

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RNS Number : 8631A  City of London Investment Group PLC  26 May 2023

City of London Investment Group PLC

26 May 2023

 



 CITY OF LONDON INVESTMENT GROUP PLC

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

 

 
BOARD CHANGES

 

City of London (LSE: CLIG) announces, in accordance with LR 9.6.11R, that
George Karpus, a non-executive Director of the Company, has indicated his
intention to retire as a Director of the Company immediately following the
Company's Board meeting on 31 July 2023.

 

Mr. Karpus joined the Board following the Company's merger with Karpus
Investment Management in October 2020. It was initially intended for Mr.
Karpus's appointment as a non-executive Director to continue until the
Company's AGM in 2021, and the Board unanimously approved the extension of his
tenure for an additional period to support the integration of the two
businesses. Whilst Mr. Karpus will be stepping down from his Director role,
the Company will retain Mr. Karpus as a strategic advisor to the Board.

 

Barry Aling, Chairman, commented: "George's success in developing the Karpus
business from its launch in 1986 to a firm today with an estimated US$3.4
billion of funds under management, is testament to his strong leadership
skills and strategic acumen. Since joining the Board following completion of
the Company's merger with Karpus, the Board has benefitted greatly from his
extensive experience of the asset management industry. The Board looks forward
to continued engagement with George in his role as strategic advisor to the
Board and as a significant shareholder in the Company."

 

George Karpus commented, "I have enjoyed my time on the Board of CLIG and look
forward to supporting the

Company in the future as the management works to add value for clients,
shareholders and employees."

 

Tom Griffith, CEO, commented, "I would like to thank George for his
contributions to the business and look forward to his counsel on strategic
matters."

 

Tom Griffith, CEO

City of London Investment Group PLC

Tel: 001-610-380-0435

 

Martin Green, James Hornigold

Zeus Capital Limited

Financial Adviser & Broker

Tel: +44 (0)20 3829 5000

 

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