Exercise of Warrants

RNS Number : 2175K

Palace Capital PLC

23 June 2014

 



23 June 2014

PALACE CAPITAL PLC

("Palace Capital" or the "Company")

Exercise of Warrants

Palace Capital announces that it has received notice from Arden Partners plc that it has exercised  warrants to acquire 79,665 new ordinary shares  in the Company, thereby generating gross cash proceeds of £159,330 for the Company.

Following the exercise of the warrants, the total number of warrants outstanding will be 169,050.

Admission to Trading & Total Voting Rights

Pursuant to the above exercise, 79,665 new ordinary shares of 10 pence each in the Company (the "New Ordinary Shares") have been issued and allotted and application has been made for their issue to trading on AIM. The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares. It is expected that admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on Thursday, 26 June 2014.

Following admission of the New Ordinary Shares, the Company's issued share capital will consist of 12,520,602 ordinary shares with voting rights. Palace Capital does not hold any ordinary shares in treasury. The aforementioned figure of 12,520,602 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Concha under the FCA's Disclosure and Transparency Rules.

-ends-

For further information contact:

Palace Capital Plc	Tel. [phone]
Stanley Davis, Non-executive Chairman
Neil Sinclair, Managing Director
Allenby Capital Limited	Tel. [phone]
Nick Naylor, Corporate Finance
James Reeve, Corporate Finance
Arden Partners plc	Tel: [phone]
Christopher Hardie, Corporate Finance
Broker Profile (Financial PR)	Tel. [phone]
Simon Courtenay Tamsin Shephard

 

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