RNS announcement

Palace Capital plc

("Palace Capital" or the "Company")

Results of general meeting

Palace Capital, the property investment company that focuses on commercial property outside London, announces that further to the passing by its shareholders of a special resolution at the Company's general meeting, held today on 24 March 2016 (the "General Meeting "), the Company is authorised to make market purchases of its own ordinary shares (limited to up to 10 per cent of the Company's issued ordinary share capital). Such general authority takes effect from the close of the General Meeting and will expire at the conclusion of the Company's next annual general meeting or 15 months from the passing of the resolution, whichever is the earlier.

-ends-

Date: 24 March 2016

For further information contact:

Palace Capital plc

Neil Sinclair, Chief Executive

Stephen Silvester, Finance Director

Tel. 44 (0)20 3301 8331

Allenby Capital Limited (Nominated Adviser and Joint Broker)

Nick Naylor / James Reeve

Tel. 44 (0)20 3328 5656

Arden Partners plc (Joint Broker)

Chris Hardie / Ciaran Walsh

Tel. 44 (0)207 614 5917

Capital Access Group (Financial PR)

Simon Courtenay / Harry Rippon Tel. 44 (0)20 3763 3400