REG - Palace Capital PLC - Grant of awards under LTIP <Origin Href="QuoteRef">PCA.L</Origin>

Palace CapitalAnnouncement

08/12/2015 17:20

RNS Number : 4236I
Palace Capital PLC
08 December 2015
Palace Capital plc 
("Palace Capital" or the "Company")
Grant of awards under the Palace Capital Long Term Incentive Plan
Palace Capital plc (AIM:PCA), the property investment company that specialises in commercial property outside London, announces that it has today granted awards to the executive directors of the Company and another member of the Company's senior management team under the Palace Capital Long Term Incentive Plan (the "Awards"). 
The Awards give rights to certain executives to acquire a total of 120,268 ordinary shares of 10p each in the Company (the "Ordinary Shares") for nil consideration. 109,458 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 the 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
64,864
8th December 2018
Richard Starr
18,243
8th December 2018
Stephen Silvester
26,351
8th December 2018
-Ends-
Date: 8th December 2015
For further information contact:
Palace Capital plc
Neil Sinclair, Chief Executive
Stephen Silvester, Finance Director
Tel. +44 (0)20 3301 8331
Allenby Capital Limited (Nominated Adviser and Joint Broker)
Nick Naylor / James Reeve
Tel. +44 (0)20 3328 5656
Arden Partners plc (Joint Broker)
Chris Hardie / Ciaran Walsh
Tel. +44 (0)20 7614 5917
Capital Access Group (Financial PR)
Simon Courtenay / Harry Rippon 
Tel. +44 (0)20 3763 3400

This information is provided by RNS
The company news service from the London Stock Exchange
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