Change of Auditor

City of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds ("CEFs"), is pleased to announce that it has completed a tender process, overseen by CLIG's Audit and Risk Committee, for its Group audit. This has resulted in a recommendation from the Audit and Risk Committee, which has now been endorsed by the Board, that Grant Thornton UK LLP be appointed as the Group's auditor with immediate effect. Grant Thornton UK LLP will, therefore, undertake the Group audit for the financial year ending 30th June 2024.

RSM UK Audit LLP, who have been the Company's auditor since 2018 have resigned by mutual agreement with the Company and have now ceased to hold office as the Group's auditor. RSM UK Audit LLP have confirmed that there are no circumstances connected with their resignation which they consider should be brought to the attention of the Company's members or creditors in accordance with Section 519 of the Companies Act 2006.

Peter E. Roth, Chair of the CLIG Audit and Risk Committee, said: "We thank RSM UK Audit LLP for their significant contribution as CLIG's auditor over recent years and we look forward to working with Grant Thornton UK LLP."