City of London Investment Management Company Limited

October 06, 2009 12:37 ET

City of London Investment Management Company Limited Confirms its Investment Position in DPF India Opportunities Fund

LONDON, UNITED KINGDOM--(Marketwire - Oct. 6, 2009) - City of London Investment Management Company Limited ("CoL") confirms today for regulatory purposes the ownership interest of certain separately managed accounts and prospectus-exempt pooled funds over which it exercises full discretionary investment authority (collectively, the "Accounts") in DPF India Opportunities Fund (TSX:DPF) ("DPF"). CoL, on behalf of the Accounts, currently exercises control or direction over 5,674,500 trust units of DPF representing approximately 23.77% of the issued and outstanding trust units of DPF.

These trust units of DPM were acquired by CoL in the ordinary course of business, for investment purposes only and not for the purpose of exercising control or direction over DPF. CoL, on behalf of the Accounts, may from time to time, dispose of some or all of existing or additional units or may continue to hold units of DPM. CoL may also, but subject to the availability of exemptions from the formal bid requirements of applicable securities legislation and subject to compliance with other regulatory requirements applicable to CoL, acquire additional units of DPF in future. CoL confirms that it does not intend to make a formal bid for units of DPF.

In connection with this investment, CoL had not filed alternative monthly report since March 10, 2009 under National Instrument 62-103 ("NI 62-103"). Therefore, CoL is issuing this press release to comply with the requirements of section 4.3 of NI 62-103 and so that future filings (if required) with respect to DPF can be made by CoL in accordance with the alternative monthly reporting system under Part 4 of NI 62-103.

City of London Investment Management Company Limited

CoL is a wholly owned subsidiary of City of London Investment Group PLC, whose shares are listed and traded on the London "AIM" stock exchange. CoL was founded in 1991 by Barry Olliff, CEO, and offers discretionary investment management services to institutional clients around the world. As of October 2, 2009, CoL managed approximately US$4.5 billion in assets from four offices located in the United Kingdom, United States, Singapore and Dubai.

Contact Information

  • Mr. Jay McKenna
    610-380-0121