Palace Capital PLC Result of AGM (7911V)

TIDMPCA

RNS Number : 7911V

Palace Capital PLC

25 July 2018

25 July 2018

Palace Capital PLC

("Palace Capital" or the "Company")

Result of AGM

Palace Capital, the property investment company that focusses on commercial property outside London, announces that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed.

The resolutions were as set out in the Notice of Meeting, as filed with the National Storage Mechanism (www.morningstar.co.uk/uk/NSM) and are also available on the company's website, www.palacecapitalplc.com/.

There are a total of 45,805,280 ordinary shares in issue. Proxy appointments were received from shareholders holding 32,440,391 ordinary shares amounting to 70.8 per cent. of the issued ordinary share capital.

All resolutions were passed on a show of hands with resolutions 1 to 7 and 13 passed as ordinary resolutions and resolutions 8 to 12 passed as special resolutions.

 
    Resolution                 In Favour                                                            Against                                           Withheld 
                                  Votes                                                               Votes                                             Votes 
                                  No.                                   %                             No.                       % 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
 
  1. Annual 
   Report 
   approval                               32,268,127                                 99.47                  172,264                    0.53                           - 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  2. Directors` 
   Remuneration 
   Report                                 31,472,546                                 97.03                  964,850                    2.97                       2,995 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  3. Declaration 
   of dividend                            32,403,619                                 99.99                    3,124                    0.01                      33,648 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  4. 
   Reappointment 
   and 
   remuneration 
   of the 
   auditors                               32,438,912                                 99.99                    1,479                    0.01                           - 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  5. Re-election 
   of Director                            32,430,392                                 99.97                    9,999                    0.03 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  6. Re-election 
   of Director                            32,437,205                                 99.99                    3,186                    0.01                           - 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  7. Authority to 
   allot 
   ordinary 
   shares                                 32,436,267                                 99.99                    4,124                    0.01                           - 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  8. General 
   disapplication 
   of pre-emption 
   rights                                 31,327,651                                 96.57                1,112,738                    3.43                           2 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  9. Additional 
   authority 
   to disapply 
   pre-emption 
   rights                                 31,327,729                                 96.57                1,111,260                    3.43                       1,402 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  10. Market 
   purchase of 
   own shares                             32,434,867                                 99.99                    4,124                    0.01                       1,400 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  11. Adoption of 
   new Articles 
   of Association                         32,435,166                                 99.99                    3,125                    0.01                       2,100 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  12. Notice of 
   General 
   Meetings                               32,429,589                                 99.97                   10,800                    0.03                           2 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
  13. Approval of 
   Directors' 
   remuneration 
   policy                                 32,300,663                                 99.47                  173,706                    0.53                      13,570 
                   ---------------------------------  ------------------------------------  -----------------------  ----------------------  -------------------------- 
 

A vote withheld is not a vote in law and is not counted in the calculation of the number or % of votes "For" or "Against" a resolution.

For further information, contact:

Palace Capital plc

Neil Sinclair, Chief Executive

Stephen Silvester, Finance Director

Tel. [phone]

Arden Partners plc (Lead Broker)

Chris Hardie / Ciaran Walsh / Alex Penney

Tel. [phone]

Allenby Capital Limited (Joint Broker)

Nick Naylor / James Reeve / Asha Chotai

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 the London Stock Exchange plc's main market (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 27% increase in adjusted profit before tax, a 7% uplift in EPRA NAV per share from a post fundraise proforma base and a 3% increase in dividends for the year ending 31 March 2018.

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 25, 2018 12:48 ET (16:48 GMT)