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Pin to quick picksCity Lon Inv Regulatory News (CLIG)

Share Price Information for City Lon Inv (CLIG)

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443.00    10.00 (2.31%)
Bid:
440.00
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443.00
Spread: 3.00 (0.682%)
Market Cap: £218.72m
CLIG Live PriceLast checked at - London Stock Exchange

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Support for Capital Return Programme

1 Dec 2011 09:38

RNS Number : 1502T
City of London Investment Group PLC
01 December 2011
 



1 December 2011

 

 

 

CITY OF LONDON INVESTMENT MANAGEMENT

 

Support for Capital Return Programme

 

City of London Investment Management (CLIM) welcomes the announcement by JP Morgan Russian Securities PLC on 17th November. The proposed changes to the management and governance of the Company include the introduction of continuation resolutions every five years starting at the Annual General meeting in 2012. 

 

CLIM confirms its policy regarding continuation resolutions which is to support them only in circumstances where shareholders are offered an opportunity to realise a percentage of their investment at net asset value. Performance is also an important factor to take into account. The latest fact sheet shows that the Company's NAV return is 30% behind its benchmark over the past five years. In view of this poor investment performance CLIM urges the board to offer shareholders a significant tender at the AGM.

 

For further Information contact:

 

 

Simon Westlake

Executive

City of London Investment Group, PLC http://www.citlon.co.uk/Simon.Westlake@citlon.co.uk+44 (0) 20 77111552 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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