RNS announcement

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Palace Capital plc

2 Reason for the notification:

Placing and change to shares in Issue

3. Full name of person(s) subject to the notification obligation:

Polar Capital European Forager Fund Limited

4. Full name of shareholder(s) (if different from 3.):

5. Date of the transaction and date on which the threshold is crossed or reached:

27 August 2014

6. Date on which issuer notified:

28 August 2014

7. Threshold(s) that is/are crossed or reached:

<15%

8. Notified details:

A: Voting rights attached to shares

B: Qualifying Financial Instruments

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Total (A B C)

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

Polar Capital LLP - Operations Department

15. Contact telephone number:

44 (0)207 227 2700