City of London Investment Group PLC (LSE: CLIG), the active, alpha-driven global asset management group with more than three decades of experience, has disclosed that Daniel Lippincott, Chief Investment Officer of its Karpus Investment Management subsidiary, has been granted 18,598 Restricted Share Awards under the Group's Employee Incentive Plan (EIP). The award, transacted on 26 October 2026 outside a trading venue, comprises two equal tranches of 9,299 shares each. Following the grant, Lippincott holds a beneficial interest of 350,917 Ordinary Shares, representing approximately 0.7% of CLIG's issued share capital, a level of insider ownership that investors in smaller asset managers often monitor closely.

Key Points

  • City of London Investment Group PLC (CLIG), listed on the London Stock Exchange
  • PDMR Daniel Lippincott awarded 18,598 Restricted Share Awards under the Group's Employee Incentive Plan on 26 October 2026
  • Award split into 9,299 Deferred Shares at £4.825 per share and 9,299 matching Bonus Shares at nil cost; average price £2.4125
  • Investors may watch whether further EIP awards are disclosed for other senior personnel in coming weeks

Structure of Daniel Lippincott's EIP Award: Deferred Shares and Nil-Cost Matching Bonus Shares

The award granted to Lippincott is structured in two equal tranches under CLIG's Employee Incentive Plan. The first tranche consists of 9,299 Deferred Shares awarded at a price of £4.825 per share. The second tranche comprises 9,299 matching Bonus Shares granted at nil cost, a structure commonly used by asset management groups to align executive remuneration with long-term shareholder interests. The aggregated volume of the award totals 18,598 Ordinary Shares, with an average blended price of £2.4125 across both tranches. The transaction was conducted outside a trading venue, as is standard practice for internally granted equity incentive awards of this nature.

Lippincott's Role at Karpus Investment Management Within the CLIG Group

The announcement identifies Daniel Lippincott as a person discharging managerial responsibilities (PDMR) in his capacity as Chief Investment Officer of Karpus Investment Management, a subsidiary operating within the broader CLIG group. CLIG describes itself as an active, alpha-driven global asset management group with more than three decades of experience. The Karpus division represents a distinct investment management operation within the group's wider structure. The disclosure was made in accordance with the requirements of the EU Market Abuse Regulation, and CLIG's nominated financial adviser and broker is Singer Capital Markets, with Cooper Abbott serving as Group Chief Executive Officer.

Lippincott's Beneficial Shareholding Rises to 350,917 Ordinary Shares Following the Grant

Following the EIP award, the announcement confirms that Lippincott's total beneficial interest in CLIG stands at 350,917 Ordinary Shares of £0.01 each, equivalent to approximately 0.7% of the company's issued share capital. The relevant ISIN is GB00B104RS51. For investors tracking insider alignment at smaller listed asset managers, PDMR shareholding levels can serve as an indicator of management's long-term commitment to the business, though the announcement makes no forward-looking statements regarding performance or strategy linked to this award.