7 Aug 2020 16:33
7 August 2020
CITY OF LONDON GROUP PLC
("COLG" or the "Company")
Conversion of Loan Notes
The Company announced on 15 March 2019 as part of a capital raising that it had issued unlisted unsecured convertible loan notes in an aggregate principal amount of £2,050,000 ("CLNs"). Following receipt by the Company's subsidiary Recognise Financial Services Limited of its Total Capital Requirement letter from the PRA (as announced by the Company on 23 July 2020), the CLNs are being converted into new ordinary shares in the Company which will result in the issue of 1,433,565 new ordinary shares ("New Shares").
The Company will apply for admission to trading of the New Shares on the AIM Market of the London Stock Exchange ("Admission"). It is anticipated that Admission will occur at 8.00am on 13 August 2020.
Following Admission, the issued share capital of the Company will comprise 41,394,616 ordinary shares carrying one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 41,394,616. The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information contact:
City of London Group plc Michael Goldstein, Chief Executive Officer Ben Peters, Director of Investor Relations |
+44 (0)7831 483 365 +44 (0)7941 224 028 | |
Peel Hunt LLP (Nominated Adviser and Joint Broker) | +44 (0)20 7418 8900 | |
James Britton, Rishi Shah | ||
finnCap Ltd (Joint Broker) | Tel. +44 (0)20 7220 0500 | |
Jonny Franklin-Adams / Anthony Adams / Kate Washington (Corporate Finance) | ||
Andrew Burdis / Richard Chambers (ECM) | ||
For media enquiries, please contact: David Masters, Lansons colg@lansons.com |
+44 (0)7825 427514 | |