Business
Support for Capital Return Programme
Support for Capital Return Programme.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n \nRNS Number : 1502T City of London Investment Group PLC 01 December 2011 \n \n\n1 December 2011\n \n \n \nCITY OF LONDON INVESTMENT MANAGEMENT\n \nSupport for Capital Return Programme\n \nCity of London Investment Management (CLIM) welcomes the announcement by JP Morgan Russian Securities PLC on 17th November. The proposed changes to the management and governance of the Company include the introduction of continuation resolutions every five years starting at the Annual General meeting in 2012. \n \nCLIM confirms its policy regarding continuation resolutions which is to support them only in circumstances where shareholders are offered an opportunity to realise a percentage of their investment at net asset value. Performance is also an important factor to take into account. The latest fact sheet shows that the Company's NAV return is 30% behind its benchmark over the past five years. In view of this poor investment performance CLIM urges the board to offer shareholders a significant tender at the AGM.\n \nFor further Information contact:\n \n \nSimon Westlake\nExecutive\nCity of London Investment Group, PLC http://www.citlon.co.uk/[email protected]+44 (0) 20 77111552 \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCKFLBBFLFXFBD\n ","length":2648,"tagName":"div"}]