Palace Capital Regulatory News (PCA)

15 September 2022

Palace Capital PLC

("Palace Capital" or the "Company")

Dividend Declaration

Palace Capital (LSE: PCA), the Main Market property investment company that owns a diversified portfolio of UK commercial real estate in carefully selected locations outside of London, is pleased to announce that it will pay a quarterly dividend, in respect of the three months ended 30 June 2022, of 3.75 pence per ordinary share. The entire dividend will be paid as a Property Income Distribution.

The dividend will be paid on 14 October 2022 to shareholders on the register as at 23 September 2022. The ex-dividend date will be 22 September 2022.

Disposals update

Apartment sales at Hudson Quarter, York have continued to progress, despite the uncertain economic backdrop. A further seven apartments have been sold in the period for a total of £3.0m, with aggregate proceeds of the 87 units sold totalling £30.4m. A further eight units are under offer to the value of £3.9m, leaving 32 units remaining. 

The Company has completed four non-core property disposals in the period for a total of £4.8m. We will provide a further update on the disposal strategy in the trading update for the 6 month period ending 30 September 2022 expected to be announced on Wednesday 12th October. The Company will report its interim results in November 2022.

For further information please contact:

PALACE CAPITAL PLC

Steven Owen, Interim Executive Chairman / Matthew Simpson, Chief Financial Officer

Tel. +44 (0)20 3301 8330

Financial PR

FTI Consulting

Dido Laurimore/ Giles Barrie

Tel: +44 (0)20 3727 1000

palacecapital@fticonsulting.com

www.palacecapitalplc.com