Disposal of Holding in Circle Property Plc

RNS Number : 4617N

Palace Capital PLC

30 September 2021

 

30 September 2021

PALACE CAPITAL PLC

("Palace Capital" or the "Company")

Disposal of Holding in Circle Property Plc

Palace Capital (LSE: PCA) the Main Market listed property investment company that has a diversified portfolio of UK commercial real estate in carefully selected locations outside of London but focusing on the office and industrial sectors, announces that it has disposed of its entire shareholding in Circle Property Plc. 1,592,500 shares were sold at a price of 200p per share.

Neil Sinclair, Chief Executive of Palace Capital commented: "Our investment has delivered a total return of 8.6% and 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.

For further information please contact:

PALACE CAPITAL PLC

Neil Sinclair, Chief Executive

Stephen Silvester, Chief Financial Officer

Tel. [phone]

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

Palace Capital plc (LSE: PCA) is a UK REIT that has a £274 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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