City of London Investment Group PLC commences an Equity Buyback Plan for 2,668,671 shares, representing 10% of its issued share capital, under the authorization approved on October 22, 2019.

City of London Investment Group PLC (LSE:CLIG) commences share repurchases on May 2, 2019, under the program mandated by the shareholders in the Annual General Meeting held on October 22, 2019. The maximum price which may be paid for an ordinary share is an amount equal to 105% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange plc Daily Official List for five business days immediately preceding the day on which that Share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time and the minimum price which may be paid for each ordinary share is £0.01 price per share. The program is valid till until the conclusion of next Annual General Meeting, or on November 30, 2019, which ever is earlier.