Palace Capital PLC Exercise of options and total voting rights (0978M)

TIDMPCA

RNS Number : 0978M

Palace Capital PLC

03 January 2019

3 January 2019

Palace Capital plc

("Palace Capital", or the "Company")

Exercise of options and total voting rights

Palace Capital (LSE: PCA), the Main Market listed property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London, announces the following exercise of options over ordinary shares of 10p each in the Company ("Ordinary Shares") to certain directors and a PDMR under the 2015 Palace Capital Long Term Incentive Plan ("LTIP"). The 39,383 Ordinary Shares have been satisfied from existing shares held by the Palace Capital plc Employee Benefits Trust.

 
PDMR                                    Number of Ordinary 
                                         Shares granted 
Neil Sinclair, Chief Executive Office   21,240 
Richard Starr, Executive Director       5,974 
Stephen Silvester, Finance Director     8,629 
David Kaye, Company Secretary           3,540 
 

The Company's issued and outstanding share capital will be 46,388,515 of which 505,266 Ordinary Shares are held in treasury. The net figure of 45,883,249 Ordinary Shares may be used as the denominator for shareholder calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Further information on remuneration and the LTIP is contained in the Company's 2018 Annual Report.

For further information, contact:

Palace Capital plc

Neil Sinclair, Chief Executive

Stephen Silvester, Finance Director

Tel. [phone]

Arden Partners plc (Lead Broker)

Paul Shackleton / Ciaran Walsh / Alex Penney

Tel. [phone]

Allenby Capital Limited (Joint Broker)

Nick Naylor / James Reeve / Asha Chotai

Tel. [phone]

FTI Consulting (Financial PR)

Claire Turvey / Methuselah Tanyanyiwa

[e-mail]

Tel. [phone]

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

Palace Capital plc (LSE: PCA) is a Main Market listed property investment company that has a GBP283.3 million diversified portfolio of UK regional commercial property. The Company maintains a disciplined investment strategy focused on towns and cities outside of London that are characterised by thriving local economies and strengthening fundamentals. Within those locations, the highly experienced management team selects assets that provide opportunity to drive both capital value and long-term rental income through tailored active asset management programmes, ultimately delivering attractive shareholder returns.

 
            1.   Details of the person discharging managerial responsibilities 
                  / person closely associated 
 a)              Name                             Neil Sinclair, Chief Executive Officer 
                                                   Richard Starr, Executive Director 
                                                   Stephen Silvester, Finance Director 
                                                   David Kaye, Company Secretary 
                -------------------------------  ----------------------------------------------- 
            2.   Reason for the Notification 
                -------------------------------------------------------------------------------- 
 a)              Position/status                    See 1(a) above for positions - all 
                                                     classified as PDMRs of the Company 
                ---------------------------------  --------------------------------------------- 
 b)              Initial notification/Amendment     Initial notification 
                ---------------------------------  --------------------------------------------- 
 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 the                 Ordinary shares of 10p each in Palace 
                  Financial instrument,              Capital plc 
                  type of instrument 
                 Identification code                Identification code (ISIN) for Palace 
                                                     Capital plc ordinary shares: GB00BF5SGF06 
                ---------------------------------  --------------------------------------------- 
 b)              Nature of the transaction          Exercise of options over ordinary 
                                                     shares under LTIP scheme 
                ---------------------------------  --------------------------------------------- 
 c)              Price(s) and volume(s)              Name                 Price(s)    Volume(s) 
                                                      Neil Sinclair        Nil         21,240 
                                                                          ----------  ---------- 
                                                      Richard Starr        Nil         5,974 
                                                                          ----------  ---------- 
                                                      Stephen Silvester    Nil         8,629 
                                                                          ----------  ---------- 
                                                      David Kaye           Nil         3,540 
                                                                          ----------  ---------- 
                ---------------------------------  --------------------------------------------- 
 d)              Aggregated information:             Price(s)    Volume(s) 
                   *    Aggregated volume             Nil         39,383 
                                                                 ---------- 
 
                   *    Price 
                ---------------------------------  --------------------------------------------- 
 e)              Date of the transaction            2 January 2018 
                ---------------------------------  --------------------------------------------- 
 f)              Place of the transaction           London Stock Exchange, (XLON) 
                ---------------------------------  --------------------------------------------- 
 
 

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January 03, 2019 04:30 ET (09:30 GMT)