REG - Palace Capital PLC - Result of Tender Offer

Palace CapitalAnnouncement

11/07/2024 07:00

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RNS Number : 9283V  Palace Capital PLC  11 July 2024

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FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF THE MARKET ABUSE REGULATION (EU 596/2014) AS IT FORMS PART
OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED

 

11 July 2024

Palace Capital plc

("Palace" or the "Company")

 

Result of Tender Offer

 

Further to the Tender Offer Circular dated 13 June 2024 (the "Circular"), the
Company is pleased to announce the result of the Tender Offer.

 

The Tender Offer was for up to 8,667,760 Ordinary Shares and the Company today
announces that a total of 26,793,801 Ordinary Shares were tendered and
therefore the Tender Offer was oversubscribed. Consequently, 8,667,760
Ordinary Shares have been accepted pursuant to the Tender Offer, representing
a total aggregate cash consideration of £21,669,400 (the Tender Price is 250
pence per Ordinary Share) and approximately 23% of the current issued ordinary
share capital of the Company.

 

All Ordinary Shares repurchased by the Company pursuant to the Tender Offer
will be cancelled and this is expected to take place by 17 July.

 

In accordance with the terms of the Tender Offer provided in the Circular,
CREST accounts will be credited with unsuccessfully tendered uncertificated
holdings of Ordinary Shares not later than 16 July 2024. CREST accounts will
be credited in respect of Tender Offer proceeds for uncertificated Ordinary
Shares by 19 July 2024. For certificated Shareholders, cheques and balancing
share certificates for revised, certificated holdings in the case of partially
successful tenders, will be despatched by 30 July 2024.

 

Total Voting Rights

Following the completion of the Tender Offer, the Company will have 28,892,535
Ordinary Shares in issue with no Shares held in treasury. Therefore, the total
number of voting rights in the Company will be 28,892,535 and this figure may
be used by Shareholders 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 Guidance and
Transparency Rules.

Defined terms used in this announcement have the meanings given in the
Circular, unless the context otherwise requires.

 

Enquiries:

 

 Palace Capital plc
 Steven Owen, Executive Chairman  info@placecapitalplc.com

 FTI Consulting                   Tel: 0203 727 1000

 Financial PR

 Dido Lawrence, Giles Barrie

 Deutsche Numis                   Tel: 0207 260 1200

 Broker

 Oliver Hardy

 Heraclis Economides

 

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