Palace Capital PLC
("Palace Capital" or the "Company")
Transaction in own shares
Exercise of options, Director shareholdings and total voting rights
Palace Capital, the property investment company that focuses on real estate outside London, announces that on 10 March 2017 it purchased 500,000 of its own ordinary shares of 10p each ("Ordinary Shares") at a price of 340 pence per Ordinary Share.
The Company also announces the following option exercises and transactions in the Company's ordinary shares by certain directors and a PDMR. All of the 31,593 options were exercised from existing Company treasury shares at a price of 225 pence and sold at 340 pence per Ordinary Share back to the Company.
Further details of the options exercises and Company purchases are below:
|
PDMR |
Options exercised |
Number of shares held post options sale |
% of the Company's voting rights |
|
Neil Sinclair |
17,376 |
173,767 |
0.69 |
|
Stanley Davis |
8,688 |
1,565,287 |
6.22 |
|
David Kaye |
5,529 |
None |
None |
All of the 531,593 Ordinary Shares purchased by the Company on 10 March 2017 are to be held as treasury shares. It is the intention of the Company to utilise the shares held in treasury in order to satisfy awards of shares under the Company's long term incentive plan.
Following the transfer into treasury, Palace Capital has in issue (excluding the total of 649,587 ordinary shares now held in treasury) 25,150,692 ordinary shares.
The above figure of 25,150,692 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
-ends-
Date: 13 March 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 / Jessica Bradford
Tel. +44 (0)20 3763 3400
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 |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Chief Executive |
||||
|
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 |
Ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
||||
|
b) |
Nature of the transaction |
Exercise of options
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
10 March 2017 |
||||
|
f) |
Place of the transaction |
Outside of trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Neil Sinclair |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Chief Executive |
||||
|
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 |
Ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
||||
|
b) |
Nature of the transaction |
Sale of ordinary shares
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
10 March 2017 |
||||
|
f) |
Place of the transaction |
London Stock Exchange, AIM (XLON) |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Stanley Davis |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Non-Executive Chairman |
||||
|
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 |
Ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
||||
|
b) |
Nature of the transaction |
Exercise of options
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
10 March 2017 |
||||
|
f) |
Place of the transaction |
Outside of trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Stanley Davis |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Non-Executive Chairman |
||||
|
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 |
Ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
||||
|
b) |
Nature of the transaction |
Sale of ordinary shares
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
10 March 2017 |
||||
|
f) |
Place of the transaction |
London Stock Exchange, AIM (XLON) |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
David Kaye |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Company Secretary (PDMR) |
||||
|
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 |
Ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
||||
|
b) |
Nature of the transaction |
Exercise of options
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
10 March 2017 |
||||
|
f) |
Place of the transaction |
Outside of trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
David Kaye |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Company Secretary (PDMR) |
||||
|
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 |
Ordinary shares of 10p each in Palace Capital plc
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06 |
||||
|
b) |
Nature of the transaction |
Sale of ordinary shares
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
10 March 2017 |
||||
|
f) |
Place of the transaction |
London Stock Exchange, AIM (XLON) |
||||
