REG - Palace Capital PLC - Director/PDMR Shareholding

Palace CapitalAnnouncement

13/07/2020 07:00

RNS Number : 7329S
  
Palace Capital PLC
  
13 July 2020
  
 

13 July 2020
 
 
Palace Capital PLC
("Palace Capital", the "Company" or the "Group")
 
Director Dealing
 
Palace Capital (LSE: PCA), the UK REIT that has a UK regional commercial real estate portfolio with a bias towards the office and industrial sectors in carefully selected locations outside of London, announces the following transactions by certain Directors of the Company pursuant to the awards granted on 24 June 2019 under the Palace Capital Deferred Bonus Plan (2019 DBP). 
 
DBP
On 24 June 2019 the awards granted under the 2019 DBP became exercisable following satisfaction of the one-year service period. In accordance with the rules of the plan, as part of the exercise additional shares were added to each award, equivalent to the dividends payable during the service period.
 
Exercise 
On 9 July 2020 Directors exercised their awards and sold sufficient Shares to meet income tax and national insurance liabilities, retaining the balance. Awards were satisfied using shares from the Palace Capital PLC Employee Benefit Trust. 
 
Directors shareholdings
 
Following these transactions, the Director's and PDMR's, including persons closely associated with them, have the following interests in the Ordinary Shares of 10 pence of the Company:
 




Director/PDMR


Shares held prior to the transactions


Share options exercised


No. of shares sold


Total Palace shares held


% of Palace shares in issue




Neil Sinclair


253,066


13,907


6,258


260,715


0.57%




Richard Starr


194,014


10,492


4,931


199,575


0.43%




Stephen Silvester


29,915


8,783


4,128


34,570


0.08%




 
 
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.   Richard Starr (Executive Director)
c.   Stephen Silvester (Finance Director)




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


Exercise of option over Ordinary shares of 10p
 
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06




b)


Nature of the transaction


Exercise of options




c)


Price(s) and volume(s)


 Price: nil
a.   13,907
b.   10,492
c.   8,783




d)


Aggregated information
- Aggregated volume
- Price


 
33,182
Nil




e)


Date of the transaction


9 July 2020




f)


Place of the transaction


Outside a trading venue 




 




1


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


a.   Neil Sinclair (Chief Executive)
b.   Richard Starr (Executive Director)
c.   Stephen Silvester (Finance Director)




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


Sale of Ordinary shares of 10p
 
Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06




b)


Nature of the transaction


Sale of Shares




c)


Price(s) and volume(s)


 Price: 184p
a.   6,258
b.   4,931
c.   4,128




d)


Aggregated information
- Aggregated volume
- Price


 
15,317
184p




e)


Date of the transaction


9 July 2020




f)


Place of the transaction


London Stock Exchange, (XLON)




 


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