PALACE CAPITAL PLC

Capital/Financing Update • Jun 3, 2014

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 5902I

Palace Capital PLC

03 June 2014

03 June 2014

PALACE CAPITAL PLC

("Palace Capital" or the "Company")

Repayment of convertible loan notes

Palace Capital, the AIM quoted property investment company focussed on investing in the UK's secondary property market outside London, announces that the Company has today repaid £300,000 of convertible loan notes (the "Loan Notes"). These Loan Notes were issued on 8 September 2011 to Stanley Harold Davis, Rachel Rita Davis and NSS Trustees Limited a/c IRG (the trustees of the IRG PLC Directors Retirement and Death Benefit Scheme of which Stanley Davis is the sole beneficiary).  The Loan Notes, which have been repaid at par, in accordance with their terms, carried interest at 4% per annum and have been repaid using the Company's existing cash resources.

Following the repayment of the Loan Notes the Company no longer has any outstanding convertible loan notes.

-ends-

For further information contact:

Palace Capital Plc	Tel. +44 (0)20 7722  7603
Neil Sinclair, Managing Director
Allenby Capital Limited	Tel. +44 (0) 20 3328 5656
Nick Naylor, Corporate Finance James Reeve, Corporate Finance
Arden Partners plc	Tel: +44 (0) 20 7614 5917
Christopher Hardie, Corporate Finance
Broker Profile (Financial PR)	Tel. +44(0) 20 7448 3244
Simon Courtenay Tamsin Shephard

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCSSEFSEFLSEEM