RNS Number : 4617N
Palace Capital PLC
30 September 2021
30 September 2021
PALACE CAPITAL PLC
("Palace Capital" or the "Company")
Disposal of Holding in Circle Property Plc
Palace Capital (LSE: PCA) the Main Market listed property investment company that has a diversified portfolio of UK commercial real estate in carefully selected locations outside of London but focusing on the office and industrial sectors, announces that it has disposed of its entire shareholding in Circle Property Plc. 1,592,500 shares were sold at a price of 200p per share.
Neil Sinclair, Chief Executive of Palace Capital commented: "Our investment has delivered a total return of 8.6% and we have taken the decision to exit now as part of our strategy to recycle capital into higher growth opportunities as part of our acquisition programme.
For further information please contact:
PALACE CAPITAL PLC
Neil Sinclair, Chief Executive
Stephen Silvester, Chief Financial Officer
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 / Elliot Mustoe
Corporate Broking: James Reed-Daunter
Tel: 44 (0)207 614 5900
Financial PR
FTI Consulting
Claire Turvey / Katie Hughes
Tel: 44 (0)20 3727 1000
palacecapital@fticonsulting.com
About Palace Capital plc
Palace Capital plc (LSE: PCA) is a UK REIT that has a £274 million diversified portfolio of UK regional commercial property. The Company maintains a disciplined investment strategy focused on towns and cities outside of London that are characterised by thriving local economies and strengthening fundamentals. Within those locations the highly experienced management team select assets that provide opportunities to drive both capital value and long-term rental income through tailored active asset management programmes ultimately delivering attractive shareholder returns.
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