18 May 2011 15:47
City of London Group plc ("COLG")
COLG Redeems Loan Notes
COLG is pleased to announce that it has today redeemed, without interest, all of its £1.6million of loan notes after agreement with the individual holders of those notes. Redemption has been effected by the transfer of investments in certain litigation cases with a cost value of £1.2million and the balance of £400,000 settled in cash to a new closed ended Limited Liability Partnership created and managed by its subsidiary Therium Capital Management Limited ("TCML").
Eric Anstee, Chief Executive of City of London Group, commented:
"This latest Partnership, in which invested funds at close exceed £3.2million, provides the former note holders with the opportunity to invest in a portfolio of litigation claims. TCML is the investment adviser to the Partnership."
18th May 2011
For Further Information:
City of London Group plc
Eric Anstee, Chief Executive 020 7628 5518
College Hill
Roddy Watt 020 7457 2020
Singer Capital Markets
Jeff Keating 020 3205 7627
Jonathan Marren 020 3205 7628