PALACE CAPITAL PLC

Transaction in Own Shares • Mar 13, 2017

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RNS Number : 2070Z

Palace Capital PLC

13 March 2017

Palace Capital PLC

("Palace Capital" or the "Company")

Transaction in own shares

Exercise of options, Director shareholdings and total voting rights

Palace Capital, the property investment company that focuses on real estate outside London, announces that on 10 March 2017 it purchased 500,000 of its own ordinary shares of 10p each ("Ordinary Shares") at a price of 340 pence per Ordinary Share.

The Company also announces the following option exercises and transactions in the Company's ordinary shares by certain directors and a PDMR. All of the 31,593 options were exercised from existing Company treasury shares at a price of 225 pence and sold at 340 pence per Ordinary Share back to the Company.

Further details of the options exercises and Company purchases are below:

PDMR	Options exercised	Number of shares held post options sale	% of the Company's voting rights
Neil Sinclair	17,376	173,767	0.69
Stanley Davis	8,688	1,565,287	6.22
David Kaye	5,529	None	None

All of the 531,593 Ordinary Shares purchased by the Company on 10 March 2017 are to be held as treasury shares. It is the intention of the Company to utilise the shares held in treasury in order to satisfy awards of shares under the Company's long term incentive plan.

Following the transfer into treasury, Palace Capital has in issue (excluding the total of 649,587 ordinary shares now held in treasury) 25,150,692 ordinary shares.

The above figure of 25,150,692 ordinary shares 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 and Transparency Rules.

-ends-

Date: 13 March 2017

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)207 614 5917

Capital Access Group (Financial PR)

Scott Fulton / Jessica Bradford

Tel. +44 (0)20 3763 3400

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Neil Sinclair

2

Reason for the notification

a)

Position/status

Chief Executive

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

Ordinary shares of 10p each in Palace Capital plc

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(s)	Volume(s)
225p	17,376

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

10 March 2017

f)

Place of the transaction

Outside of trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Neil Sinclair

2

Reason for the notification

a)

Position/status

Chief Executive

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

Ordinary shares of 10p each in Palace Capital plc

Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06

b)

Nature of the transaction

Sale of ordinary shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
340p	17,376

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

10 March 2017

f)

Place of the transaction

London Stock Exchange, AIM (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stanley Davis

2

Reason for the notification

a)

Position/status

Non-Executive Chairman

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

Ordinary shares of 10p each in Palace Capital plc

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(s)	Volume(s)
225p	8,688

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

10 March 2017

f)

Place of the transaction

Outside of trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stanley Davis

2

Reason for the notification

a)

Position/status

Non-Executive Chairman

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

Ordinary shares of 10p each in Palace Capital plc

Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06

b)

Nature of the transaction

Sale of ordinary shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
340p	8,688

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

10 March 2017

f)

Place of the transaction

London Stock Exchange, AIM (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Kaye

2

Reason for the notification

a)

Position/status

Company Secretary (PDMR)

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

Ordinary shares of 10p each in Palace Capital plc

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(s)	Volume(s)
225p	5,529

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

10 March 2017

f)

Place of the transaction

Outside of trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Kaye

2

Reason for the notification

a)

Position/status

Company Secretary (PDMR)

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

Ordinary shares of 10p each in Palace Capital plc

Identification code (ISIN) for Palace Capital plc ordinary shares: GB00BF5SGF06

b)

Nature of the transaction

Sale of ordinary shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
340p	5,529

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

10 March 2017

f)

Place of the transaction

London Stock Exchange, AIM (XLON)

This information is provided by RNS

The company news service from the London Stock Exchange

END

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