Palace Capital Share News (PCA)

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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NatWest Group PLC - Edinburgh-based lender - Announces redemption of the USD1.5 billion, 1.642% senior callable fixed-to-fixed reset rate notes due 2027. All outstanding notes will be redeemed June 14, 2026.

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Zinc Media Group PLC - television and audio production company - Due to strong trading by The Edge Picture Co Ltd, vendors of The Edge are to receive a final earn-out payment of GBP1.43 million, paid in part in cash and new Zinc shares, under the existing share purchase agreement. Under the PSA, GBP340,000 is payable in cash before May 15 with the remaining balance settled by an allotment of 2.6 million new ordinary shares. These earn-out shares are subject to a 12-month lock-in period. "The board has agreed to a partial release of the earn-out shares from the lock-in provisions of the SPA to enable certain institutional shareholders to acquire shares in the market, subject to demand, and thereby maintain their current percentage shareholding in the company," Zinc says. Additionally, Zinc agrees to convert GBP551,000 of Herald Investment Trust PLC's outstanding debt facilities into ordinary shares, maintaining its percentage shareholding of 33.2%. Herald will be allotted 1.3 million new ordinary shares. Following the conversion, total debt will be GBP2.9 million.

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Palace Capital PLC - London-based property investor - Approves six-month share buyback programme to purchase up to 400,000 ordinary shares. Calls this "the initial step of a wider capital return programme it is progressing with its advisers." Notes that, due to limited liquidity, a buyback could exceed 25% of the average daily trading volume. If this should happen, Palace would not benefit from the exemption contained in Article 5(1) of Regulation (EU) No. 596/2014 as adopted into UK law by the European Union (Withdrawal) Act 2018.

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Riverstone Credit Opportunities Income PLC - Energy infrastructure and energy-transition credit investor, - Net asset value per share, including net revenue for the first quarter is USD0.90, up from USD0.89 at December 31.

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AEW UK REIT PLC - London-based real estate investment trust - Net asset value is GBP172.0 million or 108.38 pence per share as at March 31, down from GBP173.5 million or 109.32 pence per share at December 31. NAV total return is 0.96% for the quarter, down from 2.05% a quarter ago. Regarding the acquisition offer it is considering for Alternative Income REIT PLC, says "there can be no certainty that an offer will ultimately be made for AIRE, nor as to the terms on which an offer may be made. Shareholders are urged to take no action at this time. A further announcement will be made as and when appropriate."

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Physiomics PLC - Oxford, England-based mathematical modelling company supporting the development of new therapeutics and personalised medicine solutions - Independent proxy adviser Institutional Shareholder Services Inc recommends that shareholders vote against all resolutions at the requisitioned general meeting to remove the current board and appoint new directors in their place. This is in line with the unanimous recommendation of the board.

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By Aidan Lane, Alliance News reporter

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