Palace Capital PLC Grant of awards under Deferred Bonus Plan (0096T)

TIDMPCA

RNS Number : 0096T

Palace Capital PLC

15 July 2020

15 July 2020

Palace Capital PLC

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

Grant of awards under Deferred Bonus Plan

Palace Capital (LSE: PCA), the UK REIT that has a UK regional commercial real estate portfolio with a bias towards the office and industrial sectors in carefully selected locations outside of London, announces that yesterday, 14 July 2020, the Company granted options to the executive directors of the Company under the Deferred Bonus Plan (the "DBP").

In accordance with the terms of the Deferred Bonus Plan, 35% of the bonus due to the Company's Executives for the year ended 31st March 2020 has been allocated to Share Options based on the ruling price of GBP1.86, as follows:

 
 Director/PDMR        Share Options 
                        Allocated 
 Neil Sinclair           34,417 
                     -------------- 
 Richard Starr           26,017 
                     -------------- 
 Stephen Silvester       24,500 
                     -------------- 
 

For further information, contact:

PALACE CAPITAL PLC

Neil Sinclair, Chief Executive

Stephen Silvester, Finance Director

Tel. [phone]

Broker

Numis Securities

Heraclis Economides / George Fry

Tel: [phone]

Broker

Arden Partners plc

Corporate Finance: Paul Shackleton / Ciaran Walsh / Daniel Gee-Summons

Corporate Broking: James Reed-Daunter

Tel: [phone]

Financial PR

FTI Consulting

Claire Turvey / Methuselah Tanyanyiwa

Tel: [phone]

[e-mail]

About Palace Capital plc ( www.palacecapitalplc.com )

Palace Capital is a property investment company with a premium listing on the Main Market of the London Stock Exchange (Stock Code: PCA). The Company owns a diversified regional portfolio across the UK and has a reputation for being entrepreneurial and opportunistic. Palace Capital acquires properties where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        a. Neil Sinclair (Chief Executive) 
                                   b. Richard Starr (Executive Director) 
                                   c. Stephen Silvester (Finance Director) 
     --------------------------  ------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status             See 1 a) above 
     --------------------------  ------------------------------------------- 
 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 the          Issue of nil cost share options 
       financial instrument, 
       type of instrument          Identification code (ISIN) for Palace 
       Identification code         Capital plc ordinary shares: GB00BF5SGF06 
     --------------------------  ------------------------------------------- 
 b)   Nature of the transaction   Issue of options 
     --------------------------  ------------------------------------------- 
 c)   Price(s) and volume(s)            Issue of nil cost share options 
                                         a. 34,417 
                                         b. 26,017 
                                         c. 24,500 
     --------------------------  ------------------------------------------- 
 d)   Aggregated information 
       - Aggregated volume          84,934 
       - Price                      Nil 
     --------------------------  ------------------------------------------- 
 e)   Date of the transaction     14 July 2020 
     --------------------------  ------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  ------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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July 15, 2020 02:00 ET (06:00 GMT)