Exercise of warrants

RNS Number : 2147F

Palace Capital PLC

18 February 2015

 



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 150,000 new ordinary shares  in the Company, thereby generating cash proceeds of £300,000 for the Company.

Following the exercise of the warrants, the total number of warrants outstanding will be 19,050.

Admission to Trading & Total Voting Rights

Pursuant to the above exercise, 150,000 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 admission 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 23 February 2015.

Following admission of the New Ordinary Shares, the Company's issued share capital will consist of 20,225,673 ordinary shares with voting rights. Palace Capital does not hold any ordinary shares in treasury. The aforementioned figure of 20,225,673 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, the Company under the FCA's Disclosure and Transparency Rules.

-ends-

Date: 18 February 2015

For further information, please contact:

Palace Capital plc	Tel. [phone]
Stanley Davis, Non-Executive Chairman
Neil Sinclair, Chief Executive
Allenby Capital Limited	Tel. [phone]
Nick Naylor, Corporate Finance
James Reeve, Corporate Finance
Arden Partners plc	Tel: [phone]
Christopher Hardie, Corporate Finance
Ciaran Walsh, Corporate Finance
Broker Profile (Financial PR)	Tel. [phone]
Simon Courtenay

 

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