REG - Palace Capital PLC - Director Dealing

Palace CapitalAnnouncement

16/10/2020 14:10

RNS Number : 3733C
  
Palace Capital PLC
  
16 October 2020
  
 

16 October 2020
 
 
Palace Capital PLC
("Palace Capital", the "Company" or the "Group")
 
Director Dealing
 
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, announces that on 14 October 2020, the Company granted awards (the "Awards") to the executive directors of the Company and other members of the Company's management team under the Palace Capital Long Term Incentive Plan ("LTIP").
The Awards would have typically been made following the publication of the Company's full year results. However, owing to the onset of the Covid-19 pandemic the Remuneration Committee deferred the grant of the award. 
The Awards give rights to the beneficiaries to acquire ordinary shares of 10p each in the Company (the "Shares") for nil consideration. Awards totalling 454,664 shares are being made to PDMRs as detailed below. Vesting of Shares awarded under the 2020 LTIP is subject to total shareholder return and return of the property portfolio as calculated by MSCI measured over a three-year period. Following the vesting of any shares there is a further two-year holding period and malus and clawback provisions apply. 



Director/PDMR


Number of Ordinary Shares under Award


Expected Vesting Date




Neil Sinclair


159,264


14 October 2023




Stephen Silvester


116,951


14 October 2023




Richard Starr


120,631


14 October 2023




Matthew Simpson


30,223


14 October 2023




Nicola Grinham


27,595


14 October 2023



 
Further information on the LTIP is contained in the Company's 2020 Annual Report.
 
For further information, contact:
PALACE CAPITAL PLC
Neil Sinclair, Chief Executive              

Stephen Silvester, Finance Director

Tel. +44 (0)20 3301 8331
 
Broker
Numis Securities
Heraclis Economides / George Fry
Tel: +44 (0)20 7260 1000
 
Broker
Arden Partners plc
Corporate Finance: Paul Shackleton / Ciaran Walsh / Daniel Gee-Summons
Corporate Broking: James Reed-Daunter
Tel: +44 (0)207 614 5900
 
Financial PR 
FTI Consulting
Claire Turvey / Methuselah Tanyanyiwa
Tel: +44 (0)20 3727 1000
palacecapital@fticonsulting.com
 
About Palace Capital plc (www.palacecapitalplc.com)
 
Palace Capital is a property investment company with a premium listing on the Main Market of the London Stock Exchange (Stock Code: PCA). The Company owns a diversified regional portfolio across the UK and has a reputation for being entrepreneurial and opportunistic. Palace Capital acquires properties where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London.
 



1


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


a.   Neil Sinclair (Chief Executive)
b.   Stephen Silvester (Finance Director
c.   Richard Starr (Executive Director)
d.   Matthew Simpson (Financial Controller)
e.   Nicola Grinham (Company Secretary)




2


Reason for the notification




a)


Position/status


See 1 a) above




b)
 


Initial notification /Amendment


Initial notification




3
 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Palace Capital plc




b)


LEI


2138009JDFQOXJFCJQ05




4
 


Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted




a)
 


Description of the financial instrument, type of instrument
 Identification code


Issue of nil cost share options 
 
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06




b)


Nature of the transaction


Issue of options




c)


Price(s) and volume(s)


 Issue of nil cost share options 
a.   159,264
b.   116,951
c.   120,631
d.   30,223
e.   27,595
 




d)


Aggregated information
- Aggregated volume
- Price


 
454,665 
Nil




e)


Date of the transaction


14 October 2020




f)


Place of the transaction


Outside a trading venue 



 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
DSHFLFIVITLRLII