26 Aug 2015 16:15
CITY OF LONDON GROUP PLC
(THE "COMPANY")
26 August 2015
Posting of Circular, Notice of AGM and Subscription
The board of directors of the Company is pleased to announce that a circular in respect of the proposals announced by the Company on 16 July 2015, to issue new share capital pursuant to an equity subscription for cash (the "Subscription"), to transfer trading of the Company's shares to AIM and to amend the Company's investment policy and convening a general meeting of the Company to approve those proposals, has been published today (the "Circular"). A copy of the Circular and a form of proxy will be posted shortly to shareholders. The General Meeting has been convened for 10.15 a.m. on 18 September 2015 at the offices of Squire Patton Boggs (UK) LLP at 7 Devonshire Square, London, EC2M 4YH.
A copy of the Circular has also been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.
The Company confirms that its Notice of Annual General Meeting and form of proxy will also be posted to shareholders today. The Annual General Meeting has been convened for 10.00 a.m. on 18 September 2015 at the offices of Squire Patton Boggs (UK) LLP at 7 Devonshire Square, London, EC2M 4YH.
Further to the Company's announcement on 16 July 2015, Cain Hoy Enterprises, LLC ("Cain Hoy") has procured a subscriber for part of its Subscription commitment in accordance with the terms of its subscription letter entered into on 16 July 2015, as a result of which Galliard Holdings Limited, through GHL (CLG) Ltd, has conditionally agreed to subscribe for 1,446,737 ordinary shares in the Company at a subscription price of 30 pence per share.
For further information:
City of London Group plc | +44 (0)20 7628 5518 |
John Kent (Acting Chief Executive Officer) Howard Goodbourn (Chief Financial Officer)
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Peel Hunt LLP | +44 (0)20 7418 8900 |
James Britton Guy Wiehahn |
Notes to Editors
City of London Group plc is fully listed on the London Stock Exchange plc (LSE symbol CIN).
COLG is an investment company focused on providing finance to the SME sector, including professional services firms. It does this through investments in companies providing trade finance, lease finance and loan finance.
www.cityoflondongroup.com