www.citlon.co.uk/

int ex 9/2. fin ex 27/11
City of London Investment Management Company Limited operates from four centers, London, Philadelphia (established 1995), Singapore (established 2000) and Dubai (established 2007), managing assets primarily for institutional investors.

In 2002 and 2003 the investment team started to delve deeper into the stages of country development from "developing" to "developed", especially China and India, and the implications thereof, namely, the rise in the consumption of natural resources.

In 2004, using our in-house equities team, we launched the Natural Resources strategy in order to capitalise on the growing demand for natural resources via a stock selection process.

In 2005, we extended our emerging markets expertise into the frontier markets by launching the Frontier Emerging Markets strategy.

In 2009, we applied our unrivaled knowledge of closed-end funds around the world to the development of a Global Closed-End Fund strategy, using the same investment process as in our Emerging Markets Closed-End Fund strategy.

In 2010, our equity team launched the Emerging Market Equity strategy which aims to achieve long term capital growth from investing in companies which derive the majority of their profits from the emerging economies. The strategy provides diversified global emerging markets exposure, although sector and country allocation will be actively managed and stock selection will reflect a strong thematic overlay.

D M. Cardale – Non-Executive Chairman
Barry. M. Olliff – Chief Executive Officer, Chief Investment Officer
Carlos. M. Yuste – Business Development Director
Tom. W. Griffith – Chief Operating Officer


In 2011, our equity team launched the Emerging Market Equity strategy which aims to achieve long term capital growth from investing in small capitalisation companies which derive the majority of their profits from the emerging economies. The strategy provides diversified global emerging markets exposure, although sector and country allocation will be actively managed and stock selection will reflect a strong thematic overlay.

Dividends

Since becoming a public company in 2006, it has been your board's policy at least to maintain the dividend within the constraints of financial responsibility. In the light of both our substantial uncommitted liquid resources, together with the improved trading outlook, it is our intention, notwithstanding the weaker trading overthe first half year, to pay a maintained dividend of 8p on 28th February 2014 to shareholders on the register on

7th February 2014.


Our dividend payment policy has normally been based on a split of one third/two thirds between the interim and the final, and currentlythere are no plans for this to change however this assumes a continuation of the recovery that we have been benefitingfrom in recent months. In the light of the limited amount of working capital that a business of this nature both needs and, in addition,is required by the regulators to maintain, the board is reviewing the logic of our historic policy of a target cover as high as 1.5 times.

Looking positive.

8p div, on wednesday......lovely.,.

INTERIM MANAGEMENT STATEMENT
Quarterly Funds under Management ("FuM") Update

City of London (LSE: CLIG), a leading emerging markets asset management group, provides an Interim Management Statement for the period 1 December 2013 to 28 February 2014.

Funds under Management

As at 28 February 2014, FuM were US$3.4 billion (£2.0 billion). This compares to US$3.5 billion (£2.1 billion) at the end of the first six months of the year on 30 November 2013. In US dollar terms, this represents a fall of 3%, as compared to a 5% fall in the MSCI Emerging Markets Index over the same period. Net inflows of $55 million have been confirmed for funding during March 2014.

Operations

The Group's income is currently accruing at a weighted average rate of approximately 86 basis points, net of commissions, which is consistent with the forward guidance provided in the half year report. "Fixed" costs are running to budget at £0.8 million per month, accordingly, the current run-rate for operating profit, before profit-share, is approximately £0.6 million per month based upon current FuM and a US$/£ exchange rate of US$1.67 to £1. Additional cost efficiencies in excess of £0.5 million are currently being implemented, some of which will accrue in this financial year and some of which will accrue next year.

Subject to final agreement, the Board expects to extend Chief Executive Barry Olliff's employment agreement until 2019. This follows the previously announced handing over of his Emerging Market CIO responsibilities to Mark Dwyer by September 2015.

Dividends

The interim dividend of 8 pence per share was paid on 28 February 2014; the Board has not revised its position on the final dividend as communicated to shareholders in the Interim Statement released on 20 January 2014.

Due to the change in year end from 31 May to 30 June the Group's pre-close trading update will now be released on 15 July 2014.

Director/PDMR Shareholding

The Company would like to advise that Barry Olliff, Chief Executive Officer, bought 50,000 ordinary shares of 1p each. Details of the purchases are set out in the table below:

Date Price No. of shares
4 March 2014 £2.55 25,000
5 March 2014 £2.50 25,000



These transactions took place in London.
Mr Olliff's resultant shareholding in the Company is shown below:

Director Resultant holding % of issued share capital

Barry Olliff 3,130,000 11.6%

nearly as many as i have........

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Does the link above have a bearing on clig skinny?

No - good spot, I meant to post it on the GLIF thread!!

Tried 260 for the 3rd time earlier.

260 breached and gap closed for now.

This one owes me.

The only good thing about it for me is the yield!

Ummh.

Have considered dumping and moving on, but ???????

unfortunately i did dump to go else where, but i'm sure it'll come back....... div is good so back in before october.,.

Above 260 again and with some volume today - the spread can be a killer!

It's quite an interesting 5 year chart and arguably the trend is now firmly up. As a medium term investment looks quite good with a divi yield of c9%. Only market cap of £70m and a Beta of 0.39 which worry me slightly, though the spread is not such a worry if you buy for the medium/long term.
Sp seems to have cleared the 260p level as per post #113. I suppose it needs to hold above that for a while to convince new buyers?

Lets hope so Harry - I bought in @235 last September and regretted not selling as it quickly rose to the 270s - at least I've had a couple of chunky dividends.

12 month high @276.50p

Canaccord Genuity Buy 269.13 273.50 333.00 333.00 Retains

That will be £3.

Ye ha!.. keep going you fool.