City of London Investment Group PLC Director/PDMR Shareholding (7693F)

TIDMCLIG

RNS Number : 7693F

City of London Investment Group PLC

30 October 2018

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.

Mark Dwyer, an Executive Director and a person discharging managerial responsibilities ("PDMR") of City of London Investment Group PLC (LSE: CLIG), has been awarded 71,418 Restricted Share Awards (the "Award") comprising 71,418 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") from the Employee Benefit Trust (the "EBT") under the Company's Employee Incentive Plan (the "EIP"). Of these, 35,709 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 35,709 Ordinary Shares representing an additional award made by the Company as a reward for participating in the EIP ("Bonus Shares"). The cost to Mr Dwyer was GBP3.873 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 Dwyer's beneficial interest is 149,718 Ordinary Shares, representing approximately 0.6% 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                   Mark Dwyer 
     ---------------------  ----------------------------------------------- 
 2    Reason for the notification 
     ---------------------------------------------------------------------- 
 a)   Position/status        Chief Investment Officer EM CEF Group 
     ---------------------  ----------------------------------------------- 
 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 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            Ordinary Shares of GBP0.01 each 
       of the financial 
       instrument,            ISIN: GB00B104RS51 
       type of instrument 
       Identification 
       code 
     ---------------------  ----------------------------------------------- 
 b)   Nature of the          Grant of an award under the Company's Employee 
       transaction            Incentive Plan (EIP) approved by shareholders 
                              in 2016. 
     ---------------------  ----------------------------------------------- 
 c)   Price(s) and             Price          No. of shares 
       volume(s)                1. GBP3.873    1. 35,709 
                                 2. Nil cost    2. 35,709 
                                              -------------- 
     ---------------------  ----------------------------------------------- 
 d)   Aggregated 
       information             71,418 Ordinary Shares 
       - Aggregated 
       volume                  Average price: GBP1.9365 
       - Price 
     ---------------------  ----------------------------------------------- 
 e)   Date of the            26 October 2018 
       transaction 
     ---------------------  ----------------------------------------------- 
 f)   Place of the           London Stock Exchange 
       transaction 
     ---------------------  -----------------------------------------------

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

Barry Olliff, CEO

City of London Investment Group PLC

Tel: 001 215 313 3774

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.

END

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October 30, 2018 12:48 ET (16:48 GMT)

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