CIN.L Regulatory News (CIN)

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: