Reported Earnings • Dec 23
First half 2023 earnings released: UK£0.064 loss per share (vs UK£0.076 loss in 1H 2022) First half 2023 results: UK£0.064 loss per share. Net loss: UK£7.16m (loss widened 16% from 1H 2022). Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. 1 highly experienced director. Non-Independent Non-Executive Director Paul Milner is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Sep 07
City of London Group plc, Annual General Meeting, Oct 06, 2022 City of London Group plc, Annual General Meeting, Oct 06, 2022, at 12:30 Indian Standard Time. Location: 2nd Floor, Augustine House, 6A Austin Friars London. United Kingdom Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. 1 highly experienced director. Non-Independent Non-Executive Director Paul Milner is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Executive Departure • Sep 14
Independent Non-Executive Director Andrew Crossley has left the company On the 8th of September, Andrew Crossley's tenure as Independent Non-Executive Director ended after 5.9 years in the role. As of June 2021, Andrew still personally held only 30.00k shares (UK£23k worth at the time). A total of 3 executives have left over the last 12 months. Reported Earnings • Sep 11
Full year 2021 earnings released: UK£0.17 loss per share (vs UK£0.24 loss in FY 2020) Full year 2021 results: Net loss: UK£10.1m (loss widened 3.9% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Sep 09
City of London Group plc has completed a Follow-on Equity Offering in the amount of £11.35 million. City of London Group plc has completed a Follow-on Equity Offering in the amount of £11.35 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,916,667
Price\Range: £0.6
Transaction Features: Subsequent Direct Listing Announcement • Sep 07
Max Barney Investments Ltd agreed to acquire Milton Homes Limited from City of London Group plc (AIM:CIN) for £9.3 million. Max Barney Investments Ltd agreed to acquire Milton Homes Limited from City of London Group plc (AIM:CIN) for £9.3 million on September 6, 2021. The acquisition is funded by, (i) the acquisition and cancellation of an intercompany loan of £7.8 million between the City of London Group plc (AIM:CIN) and Milton Homes Limited by HPB Pension Trust, an entity associated with Max Barney Investments Ltd, which will occur immediately, (ii) a payment of £1.2 million by Milton Homes Limited to the City of London Group plc (AIM:CIN) utilizing excess cash on its balance sheet which will occur immediately and (iii) a payment of £0.25m by MB to the Company which will occur on completion. The deal is conditional on receiving regulatory approval. The net proceeds from the sale are intended to contribute to the regulatory capital of City of London Group plc (AIM:CIN) subsidiary Recognise Bank Limited, and in line with the approach to develop a new UK SME bank. James Britton and Rishi Shah of Peel Hunt LLP acted as a legal advisors to City of London Group plc (AIM:CIN). Announcement • Aug 24
City of London Group plc announced that it expects to receive £10.35 million in funding from Parasol V27 Limited City of London Group plc announced that it has entered into an agreement with returning investor Parasol V27 Limited for a private placement of 17,250,000 common shares at a price of £0.6 per share for gross proceeds of £10,350,000 on August 23, 2021. The company will also issue over 8,625,000 warrants to the investor which is equal to one warrant for every two shares subscribed. The warrants will allow the holder to subscribe for an agreed number of shares at £0.69 per share exercisable over a three-year period from completion of the subscription. The transaction is subject to shareholder approval. The shares to be issued are subject to a 12 month lock up period subject to customary exceptions following the subscription. The transaction is expected to close in September 2021. Executive Departure • Jun 15
Non-Independent Non-Executive Chairman Colin Wagman has left the company On the 10th of June, Colin Wagman's tenure as Non-Independent Non-Executive Chairman ended after 3.7 years in the role. As of March 2021, Colin still personally held 250.00k shares (UK£285k worth at the time). A total of 3 executives have left over the last 12 months. Announcement • Feb 16
City of London Group plc Announces Board Appointments City of London Group plc announced that Philip Jenks, Richard Gabbertas, Louise McCarthy and Moorad Choudhry (the "New Directors") have been appointed as Independent Non-Executive Directors of the company with immediate effect. The New Directors are all Independent Non-Executive Directors of Recognise Bank Limited and have been added to strengthen the Board's banking expertise. Is New 90 Day High Low • Feb 10
New 90-day low: UK£0.79 The company is down 15% from its price of UK£0.93 on 11 November 2020. The British market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is down 1.0% over the same period. Announcement • Jan 17
City of London Group PLC Announces Resignation of Lorraine Young's as an Independent Non-Executive Director City of London Group PLC announced that the board has accepted Lorraine Young's resignation as an independent non-executive director of the company. Is New 90 Day High Low • Jan 06
New 90-day low: UK£0.81 The company is down 7.0% from its price of UK£0.86 on 08 October 2020. The British market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: UK£0.82 The company is down 4.0% from its price of UK£0.85 on 22 September 2020. The British market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Reported Earnings • Dec 03
First half 2021 earnings released: UK£0.064 loss per share The company reported a solid first half result with reduced losses and improved revenues and control over expenses. First half 2021 results: Revenue: UK£5.37m (up 69% from 1H 2020). Net loss: UK£2.65m (loss narrowed 21% from 1H 2020). Announcement • Oct 10
City of London Group plc Announces Executive Changes City of London Group plc announced that, Ms Ruth Monicka Parasol (Chair of RG Advisors) and Ms Nyreen Bossano-Llamas (Senior Advisor at RG Advisors) have been appointed as directors to the Board of COLG. Announcement • Oct 02
City of London Group plc announced that it expects to receive £30 million in funding from Parasol V27 Limited and other investors City of London Group plc (AIM:CIN) announced a private placement of 37,500,000 common share at a price of £0.80 per share for the gross proceeds of £30,000,000 on September 10, 2020. The company has signed subscription agreement with Parasol V27 Limited for 31,250,000 shares for the gross proceeds of £25,000,000 and expected to hold between 34.6% and 39.9% stakes of the company. The transaction also include participation from certain existing shareholders and potential new investors for the gross proceeds of £5,000,000. The securities issued in the agreement are subject to lock-up period of 12 months. The transaction is subject to the approval of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in accordance with the Financial Conduct Authority's usual procedures upon a change of controller of a regulated entity and shareholder approval from company's 2020 annual general meeting to be held on September 30, 2020. 