13 August 2021
PALACE CAPITAL PLC
("Palace Capital" or the "Company")
Palace Capital (LSE: PCA), the Main Market listed property investment company that has a portfolio of UK commercial real estate in the regions, with a focus on the office and industrial sectors, announces that Stephen Silvester, Chief Financial Officer will step down from the Board on 29 October 2021.
Matthew Simpson, Head of Finance and Operations, who is a qualified chartered accountant and has been with the Company since 2016, has been appointed Finance Director Designate. The Board is in the process of reviewing the Group's cost base and will provide a further update on the appointment of a permanent successor in due course.
Neil Sinclair, Chief Executive of Palace Capital commented: "On behalf of the Board I would like to thank Stephen for his contribution to the business over the past six years and wish him well for the future."
Stephen Silvester, Chief Financial Officer of Palace Capital commented: "It has been a fantastic six years working with the team at Palace Capital, securing a premium listing on the main market and converting to a REIT during that time. I wish the Company all the success for the future".
For further information please contact:
PALACE CAPITAL PLC
Neil Sinclair, Chief Executive
Tel. +44 (0)20 3301 8331
Heraclis Economides / George Fry
Tel: +44 (0)20 7260 1000
Arden Partners plc
Corporate Finance: Paul Shackleton / Elliot Mustoe
Corporate Broking: James Reed-Daunter
Tel: +44 (0)207 614 5900
Claire Turvey / Katie Hughes
Tel: +44 (0)20 3727 1000
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.