City Of London Investment Share Discussion Threads

[stun12] 17/10/2017 16:19

Eh? 398p is 415p taking into account the dividend.

I'd be surprised if the UK market was overall down, unless you're converting into a foreign currency.

[stun12] 17/10/2017 13:13

I suppose Bazza can simply specify that the dividend belongs to the purchaser even though it was officially XD. So that gives a small window of opportunity for him to sell at 408p until the divi is actually paid out.

[asmodeus] 17/10/2017 12:59

Just see Post 1975 !

[garycook] 17/10/2017 12:58

1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------
a) Name 1. Barry Olliff
--- ------------------ --------------------------------
2 Reason for the notification
--- ----------------------------------------------------
a) Position/status 1. CEO
--- ------------------ --------------------------------
b) Initial Initial notification
notification
/Amendment
--- ------------------ --------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------
a) Name City of London Investment Group
plc
--- ------------------ --------------------------------
b) LEI 549300BV85TFYXK2Y635
--- ------------------ --------------------------------
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 Ordinary Shares of GBP0.01 each
of the financial
instrument, ISIN: GB00B104RS51
type of
instrument
Identification
code
--- ------------------ --------------------------------
b) Nature of Sale of shares
the transaction
--- ------------------ --------------------------------
c) Price(s) Price No. of
and volume(s) shares
------------ ----------
1. GBP4.25 1. 50,000
------------ ----------
--- ------------------ --------------------------------
d) Aggregated
information N/A
- Aggregated
volume
- Price
--- ------------------ --------------------------------
e) Date of 16 October 2017
the transaction
--- ------------------ --------------------------------
f) Place of London Stock Exchange
the transaction
--- ------------------ --------------------------------


For further information, please visit www.citlon.co.uk or contact:

[garycook] 17/10/2017 12:30

How did BO get 425p,when the highest sell price recorded yesterday was 409p ? It must have been sold to an Institution directly.

[masurenguy] 17/10/2017 12:00

Barry Oliff has sold another 50K shares @£4.25 as part of his ongoing planned programmed disposal at that price point.

[stun12] 12/10/2017 10:15

Another 50k sold yesterday at 425p; 125k to go. Once it goes XD (tomorrow?) his target may be harder to hit.

EDIT: My mistake, it's XD this morning. Such a wide dealing spread that the 17p divi gets lost in the mist :-)

[luderitz] 11/10/2017 16:19

Thank you for the correction Skinny.

[asmodeus] 11/10/2017 15:32

I hope he's not convinced that a forthcoming price crash will cost him more than £43k......

[skinny] 11/10/2017 15:31

Not quite :-

"City of London (LSE: CLIG), a leading specialist asset management group focused on emerging markets and closed-end funds, has been notified that Barry Olliff, the Chief Executive Officer, a person discharging managerial responsibilities ("PDMR"), has sold 75,000 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") at a price of GBP4.25 per share.

This is in line with Barry Olliff's statement of intention to sell 250,000 Ordinary Shares at GBP4.25 (175,000 remaining) as reported in the CLIG 2017 Report and Accounts and announced on 18 September 2017."

[luderitz] 11/10/2017 15:25

He's just sold 250,000.

[healzo2] 11/10/2017 07:24

Would be highly surprised if Barry sold his next tranche before this goes ex-dividend. He'd be missing out on more than £43k of dividends, with every chance this will bounce back to £4.25+ in the coming days / weeks / months.

[garycook] 10/10/2017 04:24

MRF, 425p was the price of the 43k sold at 1.45pm.

[my retirement fund] 09/10/2017 17:08

43k sold at (edit) 4.25 today I was wondering if that was him. Certainly seems to have taken some weight of the order book as the bid jumped after that.

[stun12] 09/10/2017 16:37

Can we assume that the next tranche of share sales by Bazza (250k at 425p) should now be executable? Low volume showing on London but I suppose one of the other exchanges could fill it...

[my retirement fund] 09/10/2017 11:52

dunno, why dont you ask him?

[luderitz] 09/10/2017 09:33

And why would he block you do you think?

[my retirement fund] 09/10/2017 08:37

Just noticed since upgrading my membership Masurenguy can no longer block me and I can now post on this thread lol. LOL !

[skinny] 09/10/2017 07:15

AGM Trading Update - 1st Quarter Funds under Management (FuM)

City of London (LSE: CLIG), a leading specialist asset management group focused on emerging markets and closed-end funds, announces that as at 30th September 2017, FuM were US$5.0 billion (£3.7 billion). This compares with US$4.7 billion (£3.6 billion) at the Company's year-end on 30th June 2017. In US dollar terms, this represents an increase over the 3 month period of 6% as compared with the MSCI EM T/R Index which rose by 8% and the MSCI World T/R index which rose 5% over the same period.

As a result of rebalancing, the Group continues to see some redemption requests but, by way of offset, it has a robust pipeline of potential business.


Operations

The Group's income currently accrues at a weighted average rate of approximately 84 basis points of FuM, net of third party commissions. "Fixed" costs are c. £1.0 million per month, and accordingly the current run-rate for operating profit, before profit-share of 30% and an estimated EIP charge of 2%, is approximately £1.6 million per month based upon current FuM and a US$/£ exchange rate of US$1.34 to £1 as at 30th September 2017.

The Group estimates that the post-tax profit for the first three months of the year will be approximately £2.5 million (2016: £2.3 million, after an unrealised profit on seed investments of £0.2 million).


Dividends

The final dividend of 17 pence per share, subject to approval at the AGM on 23rd October 2017, will be paid on 31st October 2017, bringing the total dividend for the financial year 2016-17 to 25 pence (2015-16: 24 pence).


Investor Afternoon

The Group will be hosting an investor afternoon at the London Stock Exchange on 23rd October 2017 from 2pm for investors, analysts and any other interested parties. For further details and to register, please email: [e-mail]

[montyhedge] 04/10/2017 16:13

BO probable get 425p now but surely he wants the 17p dividend. Ex on 13th Oct.He won't sell before then will he. Then he's next level 450p.