Director/PDMR Shareholding

RNS Number : 7329S

Palace Capital PLC

13 July 2020

 

13 July 2020

Palace Capital PLC

("Palace Capital", the "Company" or the "Group")

Director Dealing

Palace Capital (LSE: PCA), the UK REIT that has a UK regional commercial real estate portfolio with a bias towards the office and industrial sectors in carefully selected locations outside of London, announces the following transactions by certain Directors of the Company pursuant to the awards granted on 24 June 2019 under the Palace Capital Deferred Bonus Plan (2019 DBP).

DBP

On 24 June   2019 the awards granted under the 2019 DBP became exercisable following satisfaction of the one-year service period. In accordance with the rules of the plan, as part of the exercise additional shares were added to each award, equivalent to the dividends payable during the service period.

Exercise

On 9 July 2020 Directors exercised their awards and sold sufficient Shares to meet income tax and national insurance liabilities, retaining the balance. Awards were satisfied using shares from the Palace Capital PLC Employee Benefit Trust.

Directors shareholdings

Following these transactions, the Director's and PDMR's, including persons closely associated with them, have the following interests in the Ordinary Shares of 10 pence of the Company:

Director/PDMR	Shares held prior to the transactions	Share options exercised	No. of shares sold	Total Palace shares held	% of Palace shares in issue
Neil Sinclair	253,066	13,907	6,258	260,715	0.57%
Richard Starr	194,014	10,492	4,931	199,575	0.43%
Stephen Silvester	29,915	8,783	4,128	34,570	0.08%

For further information, contact:

PALACE CAPITAL PLC

Neil Sinclair, Chief Executive 
Stephen Silvester, Finance Director
Tel. [phone]

Broker

Numis Securities

Heraclis Economides / George Fry

Tel: [phone]

Broker

Arden Partners plc

Corporate Finance: Paul Shackleton / Ciaran Walsh / Daniel Gee-Summons

Corporate Broking: James Reed-Daunter

Tel: [phone]

Financial PR 

FTI Consulting

Claire Turvey / Methuselah Tanyanyiwa

Tel: [phone]

[e-mail]

About Palace Capital plc ( www.palacecapitalplc.com )

Palace Capital is a property investment company with a premium listing on the Main Market of the London Stock Exchange (Stock Code: PCA). The Company owns a diversified regional portfolio across the UK and has a reputation for being entrepreneurial and opportunistic. Palace Capital acquires properties where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	a.  Neil Sinclair (Chief Executive) b.  Richard Starr (Executive Director) c.  Stephen Silvester (Finance Director)
2	Reason for the notification
a)	Position/status	See 1 a) above
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	Exercise of option over Ordinary shares of 10p Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06
b)	Nature of the transaction	Exercise of options
c)	Price(s) and volume(s)	Price: nil a.  13,907 b.  10,492 c.  8,783
d)	Aggregated information - Aggregated volume - Price	33,182 Nil
e)	Date of the transaction	9 July 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	a.  Neil Sinclair (Chief Executive) b.  Richard Starr (Executive Director) c.  Stephen Silvester (Finance Director)
2	Reason for the notification
a)	Position/status	See 1 a) above
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	Sale of Ordinary shares of 10p Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06
b)	Nature of the transaction	Sale of Shares
c)	Price(s) and volume(s)	Price: 184p a.  6,258 b.  4,931 c.  4,128
d)	Aggregated information - Aggregated volume - Price	15,317 184p
e)	Date of the transaction	9 July 2020
f)	Place of the transaction	London Stock Exchange, (XLON)

 

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