City of London Investment Group PLC PDMR Dealing
October 29 2024 - 12:26PM
RNS Regulatory News
RNS Number : 1175K
City of London Investment Group PLC
29 October 2024
29 October 2024
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.
Daniel Lippincott, a person discharging managerial
responsibilities ("PDMR") of City of London Investment Group PLC
(LSE: CLIG), has been awarded 20,542 Restricted Share Awards (the
"Award") comprising 20,542 ordinary shares of £0.01 each in the
Company ("Ordinary Shares") from the Employee Benefit Trust (the
"EBT") under the Group's Employee Incentive Plan (the "EIP").
Of these, 10,271 Ordinary Shares relate to an employee waived
bonus ("Deferred Shares"), with the remaining 10,271 Ordinary
Shares representing matching awards made by the Company ("Bonus
Shares") under the terms of the Plan. The cost to Mr. Lippincott
was £3.735 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 at https://clig.com/investor-reports/#results-centre-on.
Following the grant of the Award, Mr. Lippincott's
beneficial interest is 311,727 Ordinary Shares, representing
approximately 0.6% 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
|
Daniel
Lippincott
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Investment
Officer, Karpus Investment Management
|
|
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 Group's Employee Incentive Plan (EIP).
|
|
c)
|
Price(s) and volume(s)
|
|
Price
|
No. of
shares
|
|
£3.735
Nil cost
|
10,271
10,271
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
20,542 Ordinary
Shares
Average price:
£1.8675
|
|
e)
|
Date of the transaction
|
28 October
2024
|
|
f)
|
Place of the transaction
|
London Stock
Exchange
|
For further information, please visit www.citlon.co.uk
or contact:
Tom Griffith, CEO
City of London Investment Group PLC
Tel: 001-610-380-0435
Martin Green, James Hornigold
Zeus Capital Limited
Financial Adviser & Broker
Tel: +44 (0)20 3829 5000
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END
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