TIDMCIN
RNS Number : 2974N
City of London Group PLC
29 September 2021
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN CITY OF LONDON GROUP PLC OR ANY
OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE
FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON
IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF CITY OF
LONDON GROUP PLC.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE
OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.
29 September 2021
CITY OF LONDON GROUP PLC
("COLG" or "the Company")
Result of Open Offer
Following the announcement made on 23 August 2021 regarding the
Open Offer, and the subsequent announcement on 13 September 2021,
COLG announces the result of the Open Offer.
The Open Offer
The Company has received valid acceptances from Qualifying
Shareholders in respect of 951,269 shares. In addition, the Company
has received applications from Qualifying Shareholders under the
Excess Application Facility in respect of 1,065,119 shares.
Accordingly, a total of 2,016,388 Open Offer Shares have been
accepted or applied for under the Open Offer, including the Excess
Application Facility. Further, Open Offer Warrants over 1,008,180
shares in COLG will be issued under the Open Offer.
A total of 2,016,388 New Ordinary Shares and 1,008,180 Open
Offer Warrants, issued under the Open Offer, will be admitted to
trading on AIM at 8.00 am on 5 October 2021.
Admission of shares to trading and total voting rights
Application will be made to the London Stock Exchange for the
2,016,388 Open Offer Shares, which rank pari passu with the
Company's issued ordinary shares, to be admitted to trading on AIM.
It is expected that Admission will become effective and that
dealings will commence at 8.00 a.m. on 5 October 2021. Following
the issue of the Open Offer Shares, the Company will have
106,812,968 ordinary Shares in issue.
An application will also be made to the London Stock Exchange
for a block admission of 1,008,180 ordinary shares. These ordinary
shares will be issued pursuant to the exercise of the Open Offer
Warrants and the 9,458,333 warrants issued to PV27 and MBIL as
announced on 23 August 2021.
PDMR dealings
Jason Oakley, CEO of Recognise Bank, has taken up the Open Offer
Entitlement.
Paul Milner, independent non-executive director, has taken up
the Open Offer Entitlement.
Richard Gabbertas, independent non-executive director, has taken
up the Open Offer Entitlement.
The information required in accordance with Article 19(3) of the
EU Market Abuse Regulation No 596/2014 is set out below.
Defined terms are set out in the Company's Open Offer Circular
document, dated 24 August 2021.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jason Oakley
---------------------------- --------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status PDMR, CEO of Recognise Bank
---------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name CITY OF LONDON GROUP PLC
---------------------------- --------------------------------------
b) LEI 2138003UW63TMQ5ZFD85
---------------------------- --------------------------------------
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 Ordinary shares in the Company
financial instrument,
type of instrument ISIN: GB00BD9GS058
Identification code
---------------------------- --------------------------------------
b) Nature of the transaction Purchase of Ordinary Shares through
Open Offer
---------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
60p 200,000
----------
---------------------------- --------------------------------------
Aggregated information
- Aggregated volume 200,000
d) - Price 60p
---------------------------- --------------------------------------
e) Date of the transaction 28 September 2021
---------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
---------------------------- --------------------------------------
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 Ordinary shares in the Company
financial instrument,
type of instrument ISIN: GB00BD9GS058
Identification code
---------------------------- --------------------------------------
b) Nature of the transaction Grant of Warrants through Open Offer
---------------------------- --------------------------------------
c) Price(s) and volume(s) Exercise Price(s) Volume(s)
69p 100,000
----------
---------------------------- --------------------------------------
Aggregated information
- Aggregated volume 100,000
d) - Exercise Price 69p
---------------------------- --------------------------------------
e) Date of the transaction 28 September 2021
---------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
---------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Paul Milner
---------------------------- --------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status PDMR, NED
---------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name CITY OF LONDON GROUP PLC
---------------------------- --------------------------------------
b) LEI 2138003UW63TMQ5ZFD85
---------------------------- --------------------------------------
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 Ordinary shares in the Company
financial instrument,
type of instrument ISIN: GB00BD9GS058
Identification code
---------------------------- --------------------------------------
b) Nature of the transaction Purchase of Ordinary Shares through
Open Offer
---------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
60p 90,000
----------
---------------------------- --------------------------------------
Aggregated information
- Aggregated volume 90,000
d) - Price 60p
---------------------------- --------------------------------------
e) Date of the transaction 28 September 2021
---------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
---------------------------- --------------------------------------
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 Ordinary shares in the Company
financial instrument,
type of instrument ISIN: GB00BD9GS058
Identification code
---------------------------- --------------------------------------
b) Nature of the transaction Grant of Warrants through Open Offer
---------------------------- --------------------------------------
c) Price(s) and volume(s) Exercise Price(s) Volume(s)
69p 45,000
----------
---------------------------- --------------------------------------
Aggregated information
- Aggregated volume 45,000
d) - Exercise Price 69p
---------------------------- --------------------------------------
e) Date of the transaction 28 September 2021
---------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
---------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Gabbertas
---------------------------- --------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status PDMR, NED
---------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name CITY OF LONDON GROUP PLC
---------------------------- --------------------------------------
b) LEI 2138003UW63TMQ5ZFD85
---------------------------- --------------------------------------
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 Ordinary shares in the Company
financial instrument,
type of instrument ISIN: GB00BD9GS058
Identification code
---------------------------- --------------------------------------
b) Nature of the transaction Purchase of Ordinary Shares through
Open Offer
---------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
60p 7,000
----------
---------------------------- --------------------------------------
Aggregated information
- Aggregated volume 7,000
d) - Price 60p
---------------------------- --------------------------------------
e) Date of the transaction 28 September 2021
---------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
---------------------------- --------------------------------------
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 Ordinary shares in the Company
financial instrument,
type of instrument ISIN: GB00BD9GS058
Identification code
---------------------------- --------------------------------------
b) Nature of the transaction Grant of Warrants through Open Offer
---------------------------- --------------------------------------
c) Price(s) and volume(s) Exercise Price(s) Volume(s)
69p 3,500
----------
---------------------------- --------------------------------------
Aggregated information
- Aggregated volume 3,500
d) - Exercise Price 69p
---------------------------- --------------------------------------
e) Date of the transaction 28 September 2021
---------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
---------------------------- --------------------------------------
For further information, please contact:
City of London Group plc +44 (0)20 3988
Michael Goldstein, Chief Executive 6501
Officer +44 (0)20 3988
Ben Peters, Director of Investor Relations 6500
Peel Hunt LLP (Nominated Adviser and +44 (0)20 7418
Joint Broker) 8900
James Britton, Rishi Shah
For media enquiries, please contact:
Heather Armstrong +44 (0)20 7920 3150
Tim Pearson Or email colg@tavistock.co.uk
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END
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