REG - Palace Capital PLC - Result of Tender Offer

Palace CapitalAnnouncement

28/08/2025 07:00

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RNS Number : 9279W  Palace Capital PLC  28 August 2025

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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

 

 28 August 2025

 

Palace Capital plc

("Palace" or the "Company")

 

Result of Tender Offer

 

Further to the Tender Offer Circular dated 31 July 2025 (the "Circular"), the
Company is pleased to announce the result of the Tender Offer.

 

The Tender Offer was for up to 8,667,761 Ordinary Shares and the Company today
announces that a total of 25,605,752 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 (after
applying the scaling down mechanism in the Circular) representing a total
aggregate cash consideration of approximately £20.8 million (the Tender Price
is 240 pence per Ordinary Share) and approximately 30% 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 2 September 2025.

 

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 1 September 2025. CREST accounts
will be credited in respect of Tender Offer proceeds for uncertificated
Ordinary Shares by 4 September 2025. For certificated Shareholders, cheques
and balancing share certificates for revised, certificated holdings in the
case of partially successful tenders, will be despatched by 15 September 2025.

 

Total Voting Rights

Following the completion of the Tender Offer, the Company will have 20,224,775
Ordinary Shares in issue with no Shares held in treasury. Therefore, the total
number of voting rights in the Company will be 20,224,775 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@palacecapitalplc.com

 FTI Consulting                   Tel: 0203 727 1000

 Financial PR

 Dido Laurimore, Andrew Davis

 Deutsche Numis                   Tel: 0207 260 1200

 Broker

 Oliver Hardy

 Heraclis Economides

 

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