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5 Dec 2017 18:19
Palace Capital plc
("Palace Capital" or the "Company")
Director/PDMR shareholding
The Board of Palace Capital was notified today that Neil Sinclair, Chief Executive of the Company, has sold 20,000 ordinary shares of 10 pence each in the Company ("Ordinary Shares") at a price of 337 pence per Ordinary Share. Mr Sinclair has sold these shares in order to fund a personal tax bill relating to 39,811 shares having been awarded under the Company's 2014 Long Term Incentive Plan. As a result of this transaction Mr Sinclair's holding in the Company is 212,761 Ordinary Shares, which represents approximately 0.46 per cent. of the voting rights over the Company's share capital.
In addition, David Kaye, Company Secretary and a PDMR, has sold 6,635 Ordinary Shares at a price of 335 pence per Ordinary Share. These shares were awarded to Mr Kaye under the Company's 2014 Long Term Incentive Plan. Following this sale Mr Kaye no longer has a holding in the Company.
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 | Sale of shares
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 5th December 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 | Sale of shares
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 5th December 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||
Date: 5th December 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 / Asha Chotai
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
Tel. +44 (0)20 3763 3400
About Palace Capital plc (www.palacecapitalplc.com):
Palace Capital is a UK property investment company admitted to trading on AIM, a market operated by the London Stock Exchange (LSE: PCA). The Company is not sector specific and looks for opportunities where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London. In its last reported financial year, Palace Capital produced a 20.0% increase in adjusted profit before tax, a 7.0% uplift in EPRA NAV per share and a 16.0% increase in dividends.
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