City Of London Share Discussion Threads

[volsung] 16/1/2023 16:36

The wages of CIN is death

[jammytass] 25/5/2022 16:28

ouch crash !!!

[jammytass] 17/5/2022 15:15

50p by end of year

[mally6] 17/5/2022 09:16

Good update are you u the only one here either nones seen update or no interest

[jammytass] 17/5/2022 07:23

Big upside today!!

[jammytass] 19/1/2022 16:31

on the up fast

[jammytass] 18/1/2022 18:59

£1.00 end on this year

[jammytass] 20/9/2021 16:54

CITY OF LONDON GROUP PLC

("COLG" or the "Company")



Banking Licence Update

City of London Group (AIM: CIN), the parent company of Recognise Bank Ltd ("Recognise Bank"), a digitally led new SME bank, is pleased to announce that, the Prudential Regulation Authority ("PRA") has lifted the deposit restrictions on Recognise Bank. This will enable Recognise Bank launch its personal and business savings products and to start taking deposits. Recognise Bank will launch FSCS protected personal savings products on Tuesday 21st September 2021, with business saving products due to launch later.

As announced in August 2021, City of London Group agreed the sale of Milton Homes Limited ("Milton") and completed a capital raise to meet the capital requirements for the PRA to remove restrictions on deposits.

The development of Recognise Bank has been a central part of COLG's strategy, to address the funding and service gap experienced by underserved UK SMEs. The new capital and funds from the deposit taking products will enable Recognise Bank increase lending to the UK's small and medium sized businesses.

Philip Jenks, Chairman of COLG and Recognise Bank, commented:

"We are delighted that the PRA has lifted the deposit restrictions for Recognise, a major milestone for COLG and Recognise. We have completed the final step on the journey to becoming a fully authorised digitally led bank which has been our primary objective for three years. We have grown the Recognise employee base to over 60 high calibre members and secured a strong executive team, led by Jason Oakley as CEO.

"The recent capital raise and sale of Milton Homes will enable us to realise our strategic ambitions for Recognise Bank, namely increasing the size of the loan book with access to funding from depositors through our business and personal savings products."

[jammytass] 17/8/2021 16:36

bank news very soon!!!

[sharesoc] 03/6/2021 12:20

Current shareholders and potential investors in City of London Group (CIN) may be interested in our webinar on the 14th June. Michael Goldstein (CEO) will be presenting to ShareSoc members:

[sharesoc] 04/5/2021 16:29

Current shareholders and potential investors in City of London Group (CIN) may be interested in our webinar on the 11th May. Michael Goldstein (CEO) will be presenting to ShareSoc members:

[macc1] 19/2/2021 10:21

here's an investor video with CEO Michael Goldstein and the CEO of Recognise Bank. Quite a useful intro in to what they are doing in the SME lending market.

[jammytass] 16/2/2021 15:08

full banking license very soon !!!

[jammytass] 12/11/2020 06:22

Interesting times ahead

[fillipe] 09/10/2020 10:16

Finncap have a 300p tp here, today.

f

[hibberts] 30/6/2018 09:48

We should see a market update any day now.

[hibberts] 15/2/2018 16:30

Looks like we are on the off again.

[handsome] 22/1/2018 17:47

Something happening?

[johndee] 23/8/2016 12:22

People were buying on reading false news of one or two posters and sold immediately they realized they were lied to and most sold at losses. I wonder if they will make claims against the lying posters. They should.

[jumbone] 23/8/2016 12:19

Agree there was some confusion between City of London Group (CIN)and City of London Investment Group (CLIG)

But look at the positives ...

1. The Bard family (5 of them)increase their holding to over 26% (in Nov 2015)

2. The old ineffective BOD is purged

3. Their investment in CAML is growing..

4. They are to recognise 1.5 mill GBP profit from the sale of Therium this year Which it self is 4.07 p per share

5. Add to that their investment (85% Ownership) in CAML with over £ 20 mill investments

6. Which before the injection of £ 5 Mill last year was valued at 6.3225 p per share

7. As per their reports CAML is showing substantial improvement in its operating results

8. All of these for a share at 3.50 p for a NAV of 10.3p Plus is a steal by any standard

[the shuffle man] 23/8/2016 12:04

I see you have changed your previous post that referred to CLIG and not CIN so at least you are now talking about the correct company.I hope you are correct with the valuation.Not sure what significance today's recognition will have.Has this been ramped somewhere as big volume the last few days after hardly anything for ages.

[jumbone] 23/8/2016 11:54

Shuffle Man

No I am referring to CIN

This from their last year's AR:

Key developments
• Litigation funding associate, Therium sold in April 2015 for a profit of £1.5m

• Group now entirely focused on SME and professions funding

• Trade Finance Partners has more than doubled its revenue

• Credit Asset Management reports substantial improvement in its operating results

• Cost savings of 55% in central overheads achieved

• Credit Asset Management has completed a preference equity issue of £5m towards building a £20m own book portfolio

• Conditional equity fund raising of £3m to £6m to fuel further growth and intention to transfer to AIM announced separately



Financial results
• Loss before tax £1.6m after exceptional loss of £0.4m (2014: loss before tax
£5.2m)

• Underlying loss before tax £1.2m* (2014:underlying loss before tax £4.2m*)

• NAV per share of the Company 42p (2014: 47p)

• Consolidated NAV per share attributable to shareholders 28p (2014: 34p)

• Profit on the sale of Therium of £1.5m will be reflected in 2016 results

hxxp://www.cityoflondongroup.com/financialreports/150729%20City%20of%20London%20Annual%20Report(WEB).pdf

The value of CIN's investment was valued at £2,330,000 in Sept 2015

There are 36,852,681 shares in issue

Which makes that investment alone worth 6.3225 p per share at last year's valuation

[the shuffle man] 23/8/2016 10:48

JumboneYou are referring to a different City of London LMAOThis one is CINCompletely different to the one you are referring to.

[jumbone] 23/8/2016 10:42

Their investment in CAML is worth 6.3p plus per share a year ago

CAML for all intents and purposes is a thriving business

Plus they are to recognise the 1.5 mill GBP profits from the sale of "Therium" in this year's finance statement

So this at below 4 p is cheap