TIDMCLIG

RNS Number : 9510V

City of London Investment Group PLC

08 November 2017

8 November 2017

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.

City of London (LSE: CLIG), a leading specialist asset management group focused on emerging markets and closed-end funds, has been notified that Mark Dwyer, an Executive Director, a person discharging managerial responsibilities ("PDMR"), has been awarded 43,338 Restricted Share Awards (the "Award") comprising 43,338 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") from the Employee Benefit Trust (the "EBT") under the Company's Employee Incentive Plan (the "EIP"). Of these, 21,669 Ordinary Shares relate to an employee waived bonus ("Deferred Shares"), with the remaining 21,669 Ordinary Shares representing an additional award made by the Company as a reward for participating in the EIP ("Bonus Shares"). The cost to Mr Dwyer was GBP4.0731 per Deferred Share and nil cost per Bonus Share. The Deferred Shares and Bonus Shares awarded under the EIP carry certain restrictions which shall lift on vesting of the Award.

Following the grant of the Award, Mr Dwyer's beneficial interest is 78,300 Ordinary Shares, representing approximately 0.3% 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                Mark Dwyer 
---  ------------------  ---------------------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------------ 
 a)   Position/status     Chief Investment Officer EM CEF 
                           Group 
---  ------------------  ---------------------------------------- 
 b)   Initial             Initial notification 
       notification 
       /Amendment 
---  ------------------  ---------------------------------------- 
 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         Ordinary Shares of GBP0.01 each 
       of the financial 
       instrument,         ISIN: GB00B104RS51 
       type of 
       instrument 
       Identification 
       code 
---  ------------------  ---------------------------------------- 
 b)   Nature of           Grant of an award under the Company's 
       the transaction     Employee Incentive Plan (EIP) approved 
                           by shareholders in 2016. 
---  ------------------  ---------------------------------------- 
 c)   Price(s)              Price          No. of 
       and volume(s)                         shares 
                            -------------  ----------- 
                             1. GBP4.0731   1. 21,669 
                              2. Nil         2. 21,669 
                               cost 
                            -------------  ----------- 
---  ------------------  ---------------------------------------- 
 d)   Aggregated 
       information          43,338 Ordinary Shares 
       - Aggregated 
       volume               Average price: GBP2.03655 
       - Price 
---  ------------------  ---------------------------------------- 
 e)   Date of             26 October 2017 
       the transaction 
---  ------------------  ---------------------------------------- 
 f)   Place of            London Stock Exchange 
       the transaction 
---  ------------------  ----------------------------------------

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

November 08, 2017 09:45 ET (14:45 GMT)

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