5th Mar 2014 12:28
LONDON (Alliance News) - City of London Investment Group PLC Wednesday said Chief Executive Officer Barry Olliff bought 25,000 shares at a price of GBP2.50 per share and 25,000 at GBP2.55 shares Tuesday.
Following this transaction, Olliff now holds 3.1 million shares, which represents an 11.6% stake in the firm.
The company said Tuesday that its funds under management fell by 2.9% in the third quarter, but that net inflows have since been confirmed for funding during March 2014, and it expects to extend Olliff's employment agreement until 2019.
Shares in the investment company were down 2.0% at 247.82 pence Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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