Appointment of new Chairman

RNS Number : 7784V

Palace Capital PLC

16 December 2021

 

16 December 2021

Palace Capital PLC

("Palace Capital" or the "Company")

Appointment of new Chairman

Palace Capital is pleased to announce the appointment of Steven Owen as Chairman of its board of directors (the "Board"), with effect from 1 January 2022.

Steven is the Non-Executive Chairman of FTSE 250 property investment group Primary Health Properties plc ("PHP") having been appointed Chairman in April 2018. He was appointed to the Board as an independent Non-Executive Director in January 2014 becoming chairman of the Audit Committee and Senior Independent Director in April 2014. Steven has overseen PHP's significant corporate activity in the period including its merger with MedicX Fund Limited in 2019 and the internalisation of its management structure in January 2021 with both transactions creating significant shareholder value.

Steven began his earlier career with KPMG before moving into property with Brixton plc where he became Finance Director and subsequently Deputy Chief Executive.

Stanley Davis will stand down as Chairman and from the Board on 31 December 2021. The Board would like to thank Mr Davis for his considerable service to the Company since co-founding it in 2010.

Commenting on his appointment, Steven said: "I very much look forward to working with the Palace Capital Board and wider team as it continues with its strategic initiatives to generate attractive shareholder returns and close the current share price discount."

No further information is required to be disclosed pursuant to Listing Rule 9.6.13R.

ENDS

For further information please contact:

PALACE CAPITAL PLC

Neil Sinclair, Chief Executive

Tel. [phone]

Matthew Simpson, Chief Financial Officer

Tel. + 44 (0)20 3931 9175

Broker

Numis Securities

Heraclis Economides / George Fry

Tel: [phone]

Broker

Arden Partners plc

Corporate Finance: Paul Shackleton / Elliot Mustoe

Corporate Broking: James Reed-Daunter

Tel: [phone]

Financial PR

FTI Consulting

Claire Turvey / Katie Hughes

Tel: [phone]

[e-mail]

About Palace Capital plc (www.palacecapitalplc.com)

Palace Capital plc (LSE: PCA) is a UK REIT that has a £273 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.

www.palacecapitalplc.com

 

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