Business
Move to the Official List and
Move to the Official List and.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n RNS Number : 6685T City of London Investment Group PLC 01 October 2010 \n\n \n \nCity of London Investment Group plc\n(the \"Company\")\n \nMove to the Official List \nand notification of directors' dealings\n \nCity of London Investment Group plc is pleased to announce that its intended move from the London Stock Exchange's AIM market (\"AIM\") to the Official List of the FSA (the \"Admission\") is expected to take place on 29 October 2010.\n \nThe Company gives notice under Rule 41 of the AIM Rules that cancellation of admission of the Company's shares to trading on AIM will take place simultaneously with the admission of the Company's shares to trading on the Official List which is expected to become effective at 8.00 a.m. on 29 October 2010.\n \nThe Board determined that the Company's shareholders should be given the opportunity to consider the proposed move and a resolution to approve the Admission was passed at the Company's General Meeting held on 14 July 2010. The Company will shortly be publishing its prospectus in connection with the Admission.\n \nThe Company takes the opportunity to provide an update with respect to its funds under management, which at 30th September 2010 stand at $5.4 billion (£3.5 billion), which compares to $4.9 billion (£3.2 billion) at 31st August 2010. The Company has continued to receive net inflows, with no evidence so far of outward rebalancing despite the strong relative performance of Emerging Markets in the year to date.\n \nThe Company would like to advise that on Thursday 30 September:\n \n1. Barry Olliff, Chief Executive Officer, sold 500,000 Ordinary shares of 1p each (\"Ordinary Shares\") at a price of 350p per share. Following this sale, Mr Olliff has an interest of 4,293,683 Ordinary Shares in the Company representing 16.38% of the Company's issued share capital. This disposal of shares reflects Mr Olliff's stated intentions with respect to the sale of shares at given price levels, the next such sale being of 500,000 shares when a price of 400p per share can be a...