8 Apr 2013 07:00

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LSE:CIN
8 April 2013
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City of London Group plc ("COLG" or "the Company")
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COLG announces that it has completed the sale of shares in
Fundamental Tracker Investment Management Limited (FTIM)
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The Company announced on the 27 March, 2013 that it was in advanced discussions to sell FTIM for a nominal sum. The transaction was completed on 5 April. COLG has received £48,211 for its shares in FTIM and over the next six months will realise its seed investment in the Munro UK Dividend Fund which is managed by FTIM. The current value of COLG's seed investment is £453,000.
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Enquiries:
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City of London Group plc | +44 (0)20 7628 5518 |
Eric Anstee (CEO) | |
N+1 Singer | +44 (0)20 7496 3000 |
Jonny Franklin-Adams | |
FTI Consulting | +44 (0)20 7269 7132 |
Ed Gascoigne-Pees    |
Notes to Editors
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City of London Group plc is fully listed on the London Stock Exchange plc (LSE symbol CIN).
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COLG is a financial services group focused on providing merchant banking services to finance the SME and professional services sectors. It does this by financing trade and securing specialist funding throughout the supply chain to help fuel growth in these sectors, as major national and foreign banks limit new lending to these borrowers. COLG seeks to identify and exploit product niches and business models in these sectors where they are supported by strong day to day management teams, providing initial equity, working capital and seed funding for those teams.
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Since 2009, COLG has focused on Specialist Financing and Alternative Fund Management. As part of its strategy to build a quality Financial Services Group, COLG has developed four specialist financing funds, pledging significant seed funds to Therium Capital Management Limited, a third party Litigation Funder, Credit Asset Management Limited and Professions Funding Limited, which respectively provide asset backed finance to SMEs and working capital loans to professional practice firms and finally Trade Finance Partners Limited, a trade finance provider to the SME market.
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