TIDMCLIG

RNS Number : 6048R

City of London Investment Group PLC

27 October 2023

27 October 2023

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.

Daniel Lippincott, a person discharging managerial responsibilities ("PDMR") of City of London Investment Group PLC (LSE: CLIG), has been awarded 20,988 Restricted Share Awards (the "Award") comprising 20,988 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") from the Employee Benefit Trust (the "EBT") under the Group's Employee Incentive Plan (the "EIP"). Of these, 10,494 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 10,494 Ordinary Shares representing matching awards made by the Company ("Bonus Shares") under the terms of the Plan. The cost to Mr. Lippincott was GBP3.304 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 at https://clig.com/investor-reports/#results-centre-on.

Following the grant of the Award, Mr. Lippincott's beneficial interest is 291,185 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                   Daniel Lippincott 
     ---------------------  --------------------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------------- 
 a)   Position/status        Chief Investment Officer, Karpus Investment 
                              Management 
     ---------------------  --------------------------------------------- 
 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 Group's Employee 
       transaction            Incentive Plan (EIP). 
     ---------------------  --------------------------------------------- 
 c)   Price(s) and             Price        No. of shares 
       volume(s)                GBP3.304     10,494 
                                 Nil cost     10,494 
                                            -------------- 
     ---------------------  --------------------------------------------- 
 d)   Aggregated 
       information             20,988 Ordinary Shares 
       - Aggregated 
       volume                  Average price: GBP1.652 
       - Price 
     ---------------------  --------------------------------------------- 
 e)   Date of the            26 October 2023 
       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

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END

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October 27, 2023 12:07 ET (16:07 GMT)

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