RNS Number : 8631A
City of London Investment Group PLC
26 May 2023
 

City of London Investment Group PLC

26 May 2023

 

 CITY OF LONDON INVESTMENT GROUP PLC

("City of London", "the Group" or "the Company")

 

                                                                                BOARD CHANGES

 

City of London (LSE: CLIG) announces, in accordance with LR 9.6.11R, that George Karpus, a non-executive Director of the Company, has indicated his intention to retire as a Director of the Company immediately following the Company's Board meeting on 31 July 2023.

 

Mr. Karpus joined the Board following the Company's merger with Karpus Investment Management in October 2020. It was initially intended for Mr. Karpus's appointment as a non-executive Director to continue until the Company's AGM in 2021, and the Board unanimously approved the extension of his tenure for an additional period to support the integration of the two businesses. Whilst Mr. Karpus will be stepping down from his Director role, the Company will retain Mr. Karpus as a strategic advisor to the Board.

 

Barry Aling, Chairman, commented: "George's success in developing the Karpus business from its launch in 1986 to a firm today with an estimated US$3.4 billion of funds under management, is testament to his strong leadership skills and strategic acumen. Since joining the Board following completion of the Company's merger with Karpus, the Board has benefitted greatly from his extensive experience of the asset management industry. The Board looks forward to continued engagement with George in his role as strategic advisor to the Board and as a significant shareholder in the Company." 

 

George Karpus commented, "I have enjoyed my time on the Board of CLIG and look forward to supporting the

Company in the future as the management works to add value for clients, shareholders and employees."

 

Tom Griffith, CEO, commented, "I would like to thank George for his contributions to the business and look forward to his counsel on strategic matters."

 

Tom Griffith, CEO

City of London Investment Group PLC

Tel: 001-610-380-0435

 

Martin Green, James Hornigold

Zeus Capital Limited

Financial Adviser & Broker

Tel: +44 (0)20 3829 5000

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
BOASEDFLMEDSEII