Source - LSE Regulatory
RNS Number : 2974N
City of London Group PLC
29 September 2021
 

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN CITY OF LONDON GROUP PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF CITY OF LONDON GROUP PLC.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.

29 September 2021

 

CITY OF LONDON GROUP PLC

("COLG" or "the Company")

Result of Open Offer

Following the announcement made on 23 August 2021 regarding the Open Offer, and the subsequent announcement on 13 September 2021, COLG announces the result of the Open Offer.

The Open Offer

The Company has received valid acceptances from Qualifying Shareholders in respect of 951,269 shares. In addition, the Company has received applications from Qualifying Shareholders under the Excess Application Facility in respect of 1,065,119 shares.

Accordingly, a total of 2,016,388 Open Offer Shares have been accepted or applied for under the Open Offer, including the Excess Application Facility. Further, Open Offer Warrants over 1,008,180 shares in COLG will be issued under the Open Offer.

A total of 2,016,388 New Ordinary Shares and 1,008,180 Open Offer Warrants, issued under the Open Offer, will be admitted to trading on AIM at 8.00 am on 5 October 2021.

Admission of shares to trading and total voting rights

Application will be made to the London Stock Exchange for the 2,016,388 Open Offer Shares, which rank pari passu with the Company's issued ordinary shares, to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on 5 October 2021. Following the issue of the Open Offer Shares, the Company will have 106,812,968 ordinary Shares in issue.

An application will also be made to the London Stock Exchange for a block admission of 1,008,180 ordinary shares. These ordinary shares will be issued pursuant to the exercise of the Open Offer Warrants and the 9,458,333 warrants issued to PV27 and MBIL as announced on 23 August 2021.

PDMR dealings

Jason Oakley, CEO of Recognise Bank, has taken up the Open Offer Entitlement.

Paul Milner, independent non-executive director, has taken up the Open Offer Entitlement.

Richard Gabbertas, independent non-executive director, has taken up the Open Offer Entitlement.

The information required in accordance with Article 19(3) of the EU Market Abuse Regulation No 596/2014 is set out below.

Defined terms are set out in the Company's Open Offer Circular document, dated 24 August 2021.

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Jason Oakley

2

 

Reason for the notification

 

a)

 

Position/status

 

PDMR, CEO of Recognise Bank

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

 

Ordinary shares in the Company

 

ISIN:     GB00BD9GS058

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares through Open Offer

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

60p

 

200,000

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

200,000

 

60p

 

 

e)

 

Date of the transaction

 

28 September 2021

f)

 

Place of the transaction

 

London Stock Exchange

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

 

Ordinary shares in the Company

 

ISIN:     GB00BD9GS058

b)

 

Nature of the transaction

 

Grant of Warrants through Open Offer

c)

 

Price(s) and volume(s)

 

 

 

Exercise Price(s)

 

Volume(s)

69p

 

100,000

d)

 

Aggregated information

 

- Aggregated volume

 

- Exercise Price

 

 

100,000

 

69p

 

 

e)

 

Date of the transaction

 

28 September 2021

f)

 

Place of the transaction

 

London Stock Exchange

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Paul Milner

2

 

Reason for the notification

 

a)

 

Position/status

 

PDMR, NED

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

 

Ordinary shares in the Company

 

ISIN:     GB00BD9GS058

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares through Open Offer

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

60p

 

90,000

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

90,000

 

60p

 

 

e)

 

Date of the transaction

 

28 September 2021

f)

 

Place of the transaction

 

London Stock Exchange

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

 

Ordinary shares in the Company

 

ISIN:     GB00BD9GS058

b)

 

Nature of the transaction

 

Grant of Warrants through Open Offer

c)

 

Price(s) and volume(s)

 

 

 

Exercise Price(s)

 

Volume(s)

69p

 

45,000

d)

 

Aggregated information

 

- Aggregated volume

 

- Exercise Price

 

 

45,000

 

69p

 

 

e)

 

Date of the transaction

 

28 September 2021

f)

 

Place of the transaction

 

London Stock Exchange

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Richard Gabbertas

2

 

Reason for the notification

 

a)

 

Position/status

 

PDMR, NED

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

 

Ordinary shares in the Company

 

ISIN:     GB00BD9GS058

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares through Open Offer

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

60p

 

7,000

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

7,000

 

60p

 

 

e)

 

Date of the transaction

 

28 September 2021

f)

 

Place of the transaction

 

London Stock Exchange

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

 

Ordinary shares in the Company

 

ISIN:     GB00BD9GS058

b)

 

Nature of the transaction

 

Grant of Warrants through Open Offer

c)

 

Price(s) and volume(s)

 

 

 

Exercise Price(s)

 

Volume(s)

69p

 

3,500

d)

 

Aggregated information

 

- Aggregated volume

 

- Exercise Price

 

 

3,500

 

69p

 

 

e)

 

Date of the transaction

 

28 September 2021

f)

 

Place of the transaction

 

London Stock Exchange

 

 

For further information, please contact:

City of London Group plc

Michael Goldstein, Chief Executive Officer

Ben Peters, Director of Investor Relations

 

+44 (0)20 3988 6501

+44 (0)20 3988 6500

 

Peel Hunt LLP (Nominated Adviser and Joint Broker)

+44 (0)20 7418 8900

James Britton, Rishi Shah



For media enquiries, please contact:

Heather Armstrong

Tim Pearson

 

 

 +44 (0)20 7920 3150

Or email  colg@tavistock.co.uk

 

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