Palace Capital PLC Director/PDMR Shareholding (4855Y)

TIDMPCA

RNS Number : 4855Y

Palace Capital PLC

05 December 2017

Palace Capital plc

("Palace Capital" or the "Company")

Director/PDMR shareholding

The Board of Palace Capital was notified today that Neil Sinclair, Chief Executive of the Company, has sold 20,000 ordinary shares of 10 pence each in the Company ("Ordinary Shares") at a price of 337 pence per Ordinary Share. Mr Sinclair has sold these shares in order to fund a personal tax bill relating to 39,811 shares having been awarded under the Company's 2014 Long Term Incentive Plan. As a result of this transaction Mr Sinclair's holding in the Company is 212,761 Ordinary Shares, which represents approximately 0.46 per cent. of the voting rights over the Company's share capital.

In addition, David Kaye, Company Secretary and a PDMR, has sold 6,635 Ordinary Shares at a price of 335 pence per Ordinary Share. These shares were awarded to Mr Kaye under the Company's 2014 Long Term Incentive Plan. Following this sale Mr Kaye no longer has a holding in the Company.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
  1   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------------ 
 a)   Name                       Neil Sinclair 
---  -------------------------  --------------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------------ 
 a)   Position/status            Chief Executive 
---  -------------------------  --------------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  --------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------ 
 a)   Name                       Palace Capital plc 
---  -------------------------  --------------------------------- 
 b)   LEI                        2138009JDFQOXJFCJQ05 
---  -------------------------  --------------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ------------------------------------------------------------ 
 a)   Description of             Ordinary shares of 10p each 
       the financial              in Palace Capital plc 
       instrument, type 
       of instrument              Identification code (ISIN) 
       Identification             for Palace Capital plc ordinary 
       code                       shares: GB00BF5SGF06 
---  -------------------------  --------------------------------- 
 b)   Nature of the              Sale of shares 
       transaction 
---  -------------------------  --------------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    337p       20,000 
                                   ---------  ---------- 
---  -------------------------  --------------------------------- 
 d)   Aggregated information     N/A 
       - Aggregated volume 
       - Price 
---  -------------------------  --------------------------------- 
 e)   Date of the transaction    5th December 2017 
---  -------------------------  --------------------------------- 
 f)   Place of the transaction   London Stock Exchange, AIM 
                                  (XLON) 
---  -------------------------  --------------------------------- 
 
 
  1   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------------ 
 a)   Name                       David Kaye 
---  -------------------------  --------------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------------ 
 a)   Position/status            Company Secretary (PDMR) 
---  -------------------------  --------------------------------- 
 b)   Initial notification       Initial notification 
       /Amendment 
---  -------------------------  --------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------ 
 a)   Name                       Palace Capital plc 
---  -------------------------  --------------------------------- 
 b)   LEI                        2138009JDFQOXJFCJQ05 
---  -------------------------  --------------------------------- 
 4    Details of the transaction(s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  ------------------------------------------------------------ 
 a)   Description of             Ordinary shares of 10p each 
       the financial              in Palace Capital plc 
       instrument, type 
       of instrument              Identification code (ISIN) 
       Identification             for Palace Capital plc ordinary 
       code                       shares: GB00BF5SGF06 
---  -------------------------  --------------------------------- 
 b)   Nature of the              Sale of shares 
       transaction 
---  -------------------------  --------------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                   ---------  ---------- 
                                    337p       6,635 
                                   ---------  ---------- 
---  -------------------------  --------------------------------- 
 d)   Aggregated information     N/A 
       - Aggregated volume 
       - Price 
---  -------------------------  --------------------------------- 
 e)   Date of the transaction    5th December 2017 
---  -------------------------  --------------------------------- 
 f)   Place of the transaction   London Stock Exchange, AIM 
                                  (XLON) 
---  -------------------------  --------------------------------- 
 

Date: 5th December 2017

For further information, contact:

Palace Capital plc

Neil Sinclair, Chief Executive

Stephen Silvester, Finance Director

Tel. [phone]

Allenby Capital Limited (Nominated Adviser and Joint Broker)

Nick Naylor / James Reeve / Asha Chotai

Tel. [phone]

Arden Partners plc (Joint Broker)

Chris Hardie / Ciaran Walsh

Tel. [phone]

Capital Access Group (Financial PR)

Scott Fulton

Tel. [phone]

About Palace Capital plc (www.palacecapitalplc.com):

Palace Capital is a UK property investment company admitted to trading on AIM, a market operated by the London Stock Exchange (LSE: PCA). The Company is not sector specific and looks for opportunities where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London. In its last reported financial year, Palace Capital produced a 20.0% increase in adjusted profit before tax, a 7.0% uplift in EPRA NAV per share and a 16.0% increase in dividends.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 05, 2017 13:19 ET (18:19 GMT)