City of London Group PLC (CITY.L)
Latest Key Developments (Source: Significant Developments)
City Of London Group Plc
City Of London Group PLC:Says that it has completed the sale of its interests in Therium, its litigation fund management associate. Full Article
City Of London Group PLC:Has reached agreement to sell its interests in Therium, its litigation fund management associate.COLG's interest in Therium comprises ordinary shares, preference shares and loans all of which will be sold for a total consideration of 3.4 mln pounds, of which 1.7 mln pounds is payable in cash on completion with the balance being deferred.The deferred consideration will be repaid two years from completion or earlier from performance fees or incremental management fees and it will be guaranteed by Therium's new partner.The cash proceeds received will be used to repay debt at COLG. Full Article
LONDON London's mayor Sadiq Khan appointed former EU Trade Commissioner Peter Mandelson to a panel of business and financial leaders advising on Brexit which also includes the City of London's policy chief and the head of the London Stock Exchange.