21st Dec 2006 12:28
City of London Investment Group PLC21 December 2006 CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED SALE OF SHAREHOLDING IN ENR RUSSIA INVEST SA City of London Investment Management Company Limited, a wholly owned subsidiaryof City of London Investment Group PLC, announces that on the 14 December 2006City of London Investment Management Company Limited, of 10 Eastcheap, London,EC3M 1LX, UK sold on behalf of it clients, its total holding of 351,075 (21.80%)of ENR Russia Invest SA bearer shares with a par value of CHF50 per share. City of London Investment Management Company Limited had previously announcedthat on the 13 November 2006 it had, on behalf of its clients, entered into aShare Purchase Agreement to sell its total holding. This Share PurchaseAgreement was subject to approval from the Cypriot, Russian and Swiss RegulatoryAuthorities. All approvals for the closing of the Share Purchase Agreement havebeen obtained. For further information contact: Clayton Gillece, Director Simon Hudson / Clemmie CarrCity of London Investment Management Company Tavistock CommunicationsTel: 020 7711 0771 Tel: 020 7920 3150 NOTES TO EDITORS City of London is an asset management group whose principal activity isproviding emerging market asset management products and services predominantlyto institutional investors via its principal operating company City of LondonInvestment Management Company Limited. The Group is based in the UK and also hasoffices in the US and Singapore. Clients include some of the US's leading bluechip institutions and endowment funds. With total funds under management of approximately US$3.2 billion, the Groupmanages several Open Ended Funds as well as a number of segregated accounts. TheGroup's fund mandates are mainly in emerging markets, although the Group hasmore recently diversified its asset management product portfolio by the launchof a natural resources fund and has also seeded three new funds: a global fund,a frontier fund and an emerging markets yield fund. The Group seeks to providecapital growth for clients through active country allocation and stockselection. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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