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.
Mark Dwyer, an Executive Director and a person discharging managerial responsibilities ("PDMR") of City of London Investment Group PLC (LSE: CLIG), has been awarded 24,034 Restricted Share Awards (the "Award") comprising 24,034 ordinary shares of £0.01 each in the Company ("Ordinary Shares") from the Employee Benefit Trust (the "EBT") under the Company's Employee Incentive Plan (the "EIP"). Of these, 12,017 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 12,017 Ordinary Shares representing matching awards made by the Company ("Bonus Shares") under the terms of the Plan. The cost to Mr Dwyer was £4.258 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, Mr Dwyer's beneficial interest is 173,752 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:
Details of the person discharging managerial responsibilities / person closely associated
Reason for the notification
Chief Investment Officer
Initial notification /Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
City of London Investment Group plc
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
Description of the financial instrument, type of instrument
Ordinary Shares of £0.01 each
Nature of the transaction
Grant of an award under the Company's Employee Incentive Plan (EIP) approved by shareholders in 2016.
Price(s) and volume(s)
- Aggregated volume
Average price: £2.129
Date of the transaction
26 October 2019
Place of the transaction
London Stock Exchange
For further information, please visit www.citlon.co.uk or contact:
Tom Griffith, CEO
City of London Investment Group PLC
Zeus Capital Limited
Financial Adviser & Broker
Tel: +44 (0)20 3829 5000
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