City of London Investment Group PLC Director/PDMR Shareholding (8667R)

TIDMCLIG

RNS Number : 8667R

City of London Investment Group PLC

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 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, 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 GBP4.258 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   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. GBP4.258    1. 9,125 
                                 2. Nil cost    2. 9,125 
                                              -------------- 
     ---------------------  ----------------------------------------------- 
 d)   Aggregated 
       information             18,250 Ordinary Shares 
       - Aggregated 
       volume                  Average price: GBP2.129 
       - Price 
     ---------------------  ----------------------------------------------- 
 e)   Date of the            26 October 2019 
       transaction 
     ---------------------  ----------------------------------------------- 
 f)   Place of the           London Stock Exchange 
       transaction 
     ---------------------  -----------------------------------------------

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.

END

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October 31, 2019 11:40 ET (15:40 GMT)

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