Exercise of Warrants

RNS Number : 3121B

Palace Capital PLC

15 June 2016

 

Palace Capital plc

("Palace Capital" or the "Company")

Exercise of Warrants

Palace Capital announces that it has received notice from Allenby Capital Limited that it has exercised  warrants to acquire 19,050 new ordinary shares  in the Company, thereby generating cash proceeds of £38,100 for the Company.

Following the exercise of the warrants, the Company has no further warrants outstanding.

Admission to Trading & Total Voting Rights

Pursuant to the above exercise, 19,050 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 20 June 2016.

Following admission of the New Ordinary Shares, the Company's issued share capital will consist of 25,800,279 ordinary shares with voting rights. Palace Capital does not hold any ordinary shares in treasury. The aforementioned figure of 25,800,279 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: 15 June 2016

For further information contact:

Palace Capital plc

Neil Sinclair, Chief Executive

Stephen Silvester, Finance Director

Tel. [phone]

Allenby Capital Limited (Nominated Adviser and Joint Broker)

Nick Naylor / James Reeve

Tel. [phone]

Arden Partners plc (Joint Broker)

Chris Hardie / Ciaran Walsh

Tel. [phone]

Capital Access Group (Financial PR)

Simon Courtenay

Tel. [phone]

 

END

 

 

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