City of London Group PLC Business update (1301J)

TIDMCIN

RNS Number : 1301J

City of London Group PLC

25 April 2022

25th April 2022

CITY OF LONDON GROUP PLC

(the "Company" or the "Group")

Business update

The board is pleased to announce that it has agreed in principle with two of the Company's shareholders, Max Barney and PV27, that they will support a capital raise by the Company. The Company is expecting to raise between GBP8m and GBP9m, through the exercise of existing warrants held by the shareholders and a separate subscription.

Further details will be announced in due course.

ENDS

For further information, please contact:

Enquiries

 
 City of London Group plc                   [phone] 
 David Jenkins (Group Finance Director) 
 Ben Peters (Head of Investor Relations) 
 Peel Hunt LLP (Nominated Adviser and 
  Broker) 
  James Britton 
  Rishi Shah                                [phone] 
 
   For media enquiries, please contact: 
 Paul Beadle, Head of Communications, 
  Recognise Bank                            [phone] 
 [e-mail] 
 

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April 25, 2022 02:01 ET (06:01 GMT)