RNS Number : 7720R
Palace Capital PLC
26 September 2017
Palace Capital plc
("Palace Capital" or the "Company")
Grant of options under deferred bonus plan
As announced on 19 September 2017, Palace Capital, the property investment company that focuses on commercial property outside London, has today granted options over ordinary shares of 10p each in the Company ("Ordinary Shares") to certain directors of the Company under the Company's deferred bonus plan (the "Options"), as follows:
|
Director |
Amount of deferred bonus |
No. of Options granted |
Total options over Ordinary Shares outstanding |
|
Neil Sinclair |
£54,749 |
15,553 |
15,553 |
|
Stephen Silvester |
£32,140 |
9,130 |
9,130 |
|
Richard Starr |
£41,006 |
11,649 |
11,649 |
|
Total |
£127,895 |
36,332 |
36,332 |
The Options are exercisable for zero cost per Option, will vest one year from the date of grant and have an expiry date of two years from the date of grant. The value of Options that have been issued in lieu of bonus entitlements totals £127,895, representing 35% of the Directors' bonuses for the year ended 31 March 2017, as detailed in the Company's report and accounts for the year ended 31 March 2017. The number of options granted has been calculated based on the average closing mid-market price of an Ordinary Share on the five business days ending 25 September 2017 of 352p.
Following the grant of the Options, the Company has a total of 36,332 options outstanding over Ordinary Shares.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Neil Sinclair |
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
Chief Executive Officer |
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|
b)
|
Initial notification /Amendment |
Initial notification |
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|
3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Palace Capital plc |
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|
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 financial instrument, type of instrument
Identification code |
Options over ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
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|
b) |
Nature of the transaction |
Grant of Options |
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|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
25 September 2017 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Stephen Silvester |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Finance Director |
||||
|
b)
|
Initial notification /Amendment |
Initial notification |
||||
|
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 financial instrument, type of instrument
Identification code |
Options over ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
||||
|
b) |
Nature of the transaction |
Grant of Options |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
25 September 2017 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Richard Starr |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Executive Director |
||||
|
b)
|
Initial notification /Amendment |
Initial notification |
||||
|
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 financial instrument, type of instrument
Identification code |
Options over ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
||||
|
b) |
Nature of the transaction |
Grant of Options |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
25 September 2017 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
Date: 26 September 2017
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)
Scott Fulton
Tel. 44 (0)20 3763 3400
About Palace Capital plc (www.palacecapitalplc.com):
Palace Capital is a UK property investment company admitted to trading on the AIM Market of the London Stock Exchange (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 20.0% increase in adjusted profit before tax, a 7.0% uplift in EPRA NAV and a 16.0% increase in dividends.
This information is provided by RNS
The company news service from the London Stock Exchange
