RNS Number : 5902I
Palace Capital PLC
03 June 2014

03 June 2014



("Palace Capital" or the "Company")


Repayment of convertible loan notes


Palace Capital, the AIM quoted property investment company focussed on investing in the UK's secondary property market outside London, announces that the Company has today repaid £300,000 of convertible loan notes (the "Loan Notes"). These Loan Notes were issued on 8 September 2011 to Stanley Harold Davis, Rachel Rita Davis and NSS Trustees Limited a/c IRG (the trustees of the IRG PLC Directors Retirement and Death Benefit Scheme of which Stanley Davis is the sole beneficiary).  The Loan Notes, which have been repaid at par, in accordance with their terms, carried interest at 4% per annum and have been repaid using the Company's existing cash resources.


Following the repayment of the Loan Notes the Company no longer has any outstanding convertible loan notes.



For further information contact:


Palace Capital Plc

Tel. 44 (0)20 7722  7603

Neil Sinclair, Managing Director




Allenby Capital Limited

Tel. 44 (0) 20 3328 5656

Nick Naylor, Corporate Finance

James Reeve, Corporate Finance




Arden Partners plc

Tel: 44 (0) 20 7614 5917

Christopher Hardie, Corporate Finance




Broker Profile (Financial PR)

Tel. 44(0) 20 7448 3244

Simon Courtenay

Tamsin Shephard



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