Grant of awards under LTIP

RNS Number : 1924D

Palace Capital PLC

04 July 2016

 

Palace Capital plc

("Palace Capital" or the "Company")

Grant of awards under Palace Capital Long Term Incentive Plan

Palace Capital, the property investment company that focusses on commercial property mainly outside London, announces that it has today granted awards to the executive directors of the Company and two other member of the Company's senior management team under the Palace Capital Long Term Incentive Plan (the "Awards").

The Awards give rights to the beneficiaries to acquire a total of 171,281 ordinary shares of 10p each in the Company (the "Ordinary Shares") for nil consideration. 149,525 of these Awards are being made to directors of the Company, as detailed below. The vesting of 50% of the Awards is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value growth, including dividends paid. The performance conditions will be measured over three years.

The following Awards are being made to the executive directors of the Company:

Director	Number of Ordinary Shares under Award	Expected Vesting Date
Neil Sinclair	75,949	4th July 2019
Richard Starr	42,722	4th July 2019
Stephen Silvester	30,854	4th July 2019

-ends-

Date: 4 July 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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