13th Nov 2019 18:13
CITY OF LONDON GROUP PLC
("COLG" or the "Company")
13 November 2019
Director/PDMR Shareholding and related party transaction
The Company announces that it has granted a share award to a PDMR of 153,288 new ordinary shares in the Company.
The Company will apply for admission to trading of 153,288 shares on the AIM Market of the London Stock Exchange ("Admission"). It is anticipated that Admission will occur on 20 November 2019.
Total voting rights
Following Admission, the issued share capital of the Company will comprise 39,960,551 ordinary shares with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 39,960,551. The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Related Party Transaction
The loan facility granted by HPB Pension Trust has been amended. The maturity date has been extended by to 30 June 2020, the loan amount to £10m and the interest rate changed to 7%.
The amendment of the loan agreement constitutes a related party transaction under Rule 13 of the AIM Rules as the lenders are related parties under the AIM Rules.
The independent directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Company's nominated adviser for the purposes of the AIM Rules, consider the terms of the transaction to be fair and reasonable insofar as the Company's shareholders are concerned.
For further information contact:
City of London Group plc
Michael Goldstein
+44 (0)7831 483365
Peel Hunt LLP (Nominated Adviser and Broker)
James Britton
Rishi Shah
+44 (0)207 418 8900
Lansons Communications LLP (Financial PR adviser)
Bev Aujla
Rebecca Annable
+44 (0)20 7490 8828
Notes to Editors
City of London Group plc is quoted on AIM (TIDM: CIN) and is the parent company of a group which is focused on serving two key segments, the UK SME market and home reversion. Through the strength and depth of expertise in its expanding team, it is now primed for future growth through its two-pronged strategy.
www.cityoflondongroup.com
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Martin Parsons | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Managing Director, Credit Asset Management Limited (CAML) | ||||
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 Group Plc | ||||
b)
| LEI
| 2138003UW63TMQ5ZFD85 | ||||
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
| Grant of ordinary shares in the Company
ISIN: GB00BD9GS058
| ||||
b)
| Nature of the transaction
| Grant of 153,288 ordinary share shares in the Company | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price | N/A (Single transaction) | ||||
e)
| Date of the transaction
| 13 Nov 2019 | ||||
f)
| Place of the transaction
| AIM | ||||
Related Shares:
CIN.L