RNS Number : 1924D
Palace Capital PLC
04 July 2016
Palace Capital plc
("Palace Capital" or the "Company")
Grant of awards under Palace Capital Long Term Incentive Plan
Palace Capital, the property investment company that focusses on commercial property mainly outside London, announces that it has today granted awards to the executive directors of the Company and two other member of the Company's senior management team under the Palace Capital Long Term Incentive Plan (the "Awards").
The Awards give rights to the beneficiaries to acquire a total of 171,281 ordinary shares of 10p each in the Company (the "Ordinary Shares") for nil consideration. 149,525 of these Awards are being made to directors of the Company, as detailed below. The vesting of 50% of the Awards is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value growth, including dividends paid. The performance conditions will be measured over three years.
The following Awards are being made to the executive directors of the Company:
|
Director |
Number of Ordinary Shares under Award |
Expected Vesting Date |
|
Neil Sinclair |
75,949 |
4th July 2019 |
|
Richard Starr |
42,722 |
4th July 2019 |
|
Stephen Silvester |
30,854 |
4th July 2019 |
-ends-
Date: 4 July 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
Tel. 44 (0)20 3763 3400
This information is provided by RNS
The company news service from the London Stock Exchange
