30 Oct 2018 16:47
30 October 2018
CITY OF LONDON INVESTMENT GROUP PLC
("City of London", "CLIG", "the Group" or "the Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
Thomas Griffith, an Executive Director and a person discharging managerial responsibilities ("PDMR") of City of London Investment Group PLC (LSE: CLIG), has been awarded 76,492 Restricted Share Awards (the "Award") comprising 76,492 ordinary shares of £0.01 each in the Company ("Ordinary Shares") from the Employee Benefit Trust (the "EBT") under the Company's Employee Incentive Plan (the "EIP"). Of these, 38,246 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 38,246 Ordinary Shares representing an additional award made by the Company as a reward for participating in the EIP ("Bonus Shares"). The cost to Mr Griffith was £3.873 per Deferred Share and nil cost per Bonus Share. The Deferred Shares and Bonus Shares awarded under the EIP carry certain restrictions which will lift on vesting of the Award. For further details of the EIP scheme please refer to CLIG's latest annual report and accounts.
Following the grant of the Award, Mr Griffith's beneficial interest is 404,471 Ordinary Shares, representing approximately 1.5% of the Company's issued share capital.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Thomas Griffith | ||||
2 | Reason for the notification | |||||
a) | Position/status | COO/Deputy CEO | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | City of London Investment Group plc | ||||
b) | LEI | 549300BV85TFYXK2Y635 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary Shares of £0.01 each
ISIN: GB00B104RS51 | ||||
b) | Nature of the transaction | Grant of an award under the Company's Employee Incentive Plan (EIP) approved by shareholders in 2016.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
76,492 Ordinary Shares
Average price: £1.9365 | ||||
e) | Date of the transaction | 26 October 2018 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
For further information, please visit www.citlon.co.uk or contact:
Barry Olliff, CEO
City of London Investment Group PLC
Tel: 001 215 313 3774
Martin Green
Zeus Capital Limited
Financial Adviser & Broker
Tel: +44 (0)20 3829 5000
City Lon Inv (CLIG)