Last checked at 19 Apr 2010 15:40
ASSET MANAGEMENT INVESTMENT COMPANY PLC
("The Company")
Sale of shares in City of London Investment Group PLC
Asset Management Investment Company PLC ("AMIC") announces that it has sold its entire holding of ordinary shares in City of London Investment Group PLC ("CLIG"). The total amount receivable by AMIC of approximately £3,596,791 represents a modest uplift to the present carrying value of the investment which is now reflected in the daily announcement of net asset value.
In accordance with its revised investment policy the Board is committed, subject to all legal and regulatory requirements, to return cash to Ordinary Shareholders as and when surplus cash becomes available. The Board is consulting with its Advisers to determine the most appropriate method for returning some or all of the proceeds from the investment in CLIG to shareholders.
For further information please contact:
George Robb, AMIC
Managing Director and Chief Investment Officer
Telephone: 020 7618 9041
David Benda/Nathan Brown
Numis Securities, Corporate Broking
Telephone: 020 7260 1275/1426
19 April 2010