Circle Property PLC - buys, develops and manages regional office assets in UK - Palace Capital PLC, a real estate investment trust with a portfolio of UK office and industrial properties, sells entire 5.0% stake in Circle Property on Wednesday. Says the 1.6 million shares were sold at 200 pence each, worth GBP3.2 million. Palace says its investment in Circle Property delivered an 8.6% return. "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," says Palace Chief Executive Neil Sinclair.
Circle Property current stock price: 200.50p, down 3.1% on Thursday
Year-to-date change: up 9.3%
By Tom Waite; thomaslwaite@alliancenews.com
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Palace Capital (PCA)