RNS Number : 7329S
Palace Capital PLC
13 July 2020
 

13 July 2020

 

 

Palace Capital PLC

("Palace Capital", the "Company" or the "Group")

 

Director Dealing

 

Palace Capital (LSE: PCA), the UK REIT that has a UK regional commercial real estate portfolio with a bias towards the office and industrial sectors in carefully selected locations outside of London, announces the following transactions by certain Directors of the Company pursuant to the awards granted on 24 June 2019 under the Palace Capital Deferred Bonus Plan (2019 DBP).

 

DBP

On 24 June 2019 the awards granted under the 2019 DBP became exercisable following satisfaction of the one-year service period. In accordance with the rules of the plan, as part of the exercise additional shares were added to each award, equivalent to the dividends payable during the service period.

 

Exercise

On 9 July 2020 Directors exercised their awards and sold sufficient Shares to meet income tax and national insurance liabilities, retaining the balance. Awards were satisfied using shares from the Palace Capital PLC Employee Benefit Trust.

 

Directors shareholdings

 

Following these transactions, the Director's and PDMR's, including persons closely associated with them, have the following interests in the Ordinary Shares of 10 pence of the Company:

 

Director/PDMR

Shares held prior to the transactions

Share options exercised

No. of shares sold

Total Palace shares held

% of Palace shares in issue

Neil Sinclair

253,066

13,907

6,258

260,715

0.57%

Richard Starr

194,014

10,492

4,931

199,575

0.43%

Stephen Silvester

29,915

8,783

4,128

34,570

0.08%

 

 

For further information, contact:

PALACE CAPITAL PLC

Neil Sinclair, Chief Executive              
Stephen Silvester, Finance Director
Tel. 44 (0)20 3301 8331

 

Broker

Numis Securities

Heraclis Economides / George Fry

Tel: 44 (0)20 7260 1000

 

Broker

Arden Partners plc

Corporate Finance: Paul Shackleton / Ciaran Walsh / Daniel Gee-Summons

Corporate Broking: James Reed-Daunter

Tel: 44 (0)207 614 5900

 

Financial PR 

FTI Consulting

Claire Turvey / Methuselah Tanyanyiwa

Tel: 44 (0)20 3727 1000

palacecapital@fticonsulting.com

 

About Palace Capital plc (www.palacecapitalplc.com)

 

Palace Capital is a property investment company with a premium listing on the Main Market of the London Stock Exchange (Stock Code: PCA). The Company owns a diversified regional portfolio across the UK and has a reputation for being entrepreneurial and opportunistic. Palace Capital acquires properties where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

a.   Neil Sinclair (Chief Executive)

b.   Richard Starr (Executive Director)

c.   Stephen Silvester (Finance Director)

2

Reason for the notification

a)

Position/status

See 1 a) above

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

Exercise of option over Ordinary shares of 10p

 

Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06

b)

Nature of the transaction

Exercise of options

c)

Price(s) and volume(s)

 Price: nil

a.   13,907

b.   10,492

c.   8,783

d)

Aggregated information

- Aggregated volume

- Price

 

33,182

Nil

e)

Date of the transaction

9 July 2020

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

a.   Neil Sinclair (Chief Executive)

b.   Richard Starr (Executive Director)

c.   Stephen Silvester (Finance Director)

2

Reason for the notification

a)

Position/status

See 1 a) above

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

Sale of Ordinary shares of 10p

 

Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06

b)

Nature of the transaction

Sale of Shares

c)

Price(s) and volume(s)

 Price: 184p

a.   6,258

b.   4,931

c.   4,128

d)

Aggregated information

- Aggregated volume

- Price

 

15,317

184p

e)

Date of the transaction

9 July 2020

f)

Place of the transaction

London Stock Exchange, (XLON)

 


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