Share Purchase Agreement

20 Nov 2006 13:09

City of London Investment Group PLC20 November 2006 For immediate release: 20 November 2006 CITY OF LONDON INVESTMENT MANAGEMENT LIMITED ("City of London") Share Purchase Agreement City of London Investment Management Limited, announces that on the 13thNovember 2006, City of London, on behalf of its clients entered into a SharePurchase Agreement to sell its total holding of 351,075 (21.80%) ENR RussiaInvest SA bearer shares with a par value of CHF50 per share. This transaction is subject to conditions stipulated in the Share PurchaseAgreement and to obtaining the required approval from the Cypriot, Russian andSwiss Regulatory Authorities. The agreement may be terminated if the approvalsare not obtained and the conditions are not satisfied or waived on or before 31December 2006. City of London Investment Management Company Limited will make a furtherannouncement regarding this transaction when conditions to the Sale and PurchaseAgreement have been met or waived. For further information, please visit www.citlon.com or contact: Clayton Gillece Clemmie CarrCity of London Investment Management Ltd Tavistock CommunicationsTel: 020 7711 0771 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange