The Company was informed on 10 January 2019 that Neil Sinclair and Stephen Silvester, directors of the Company, and David Kaye, a PDMR of the Company, sold in aggregate 28,836 ordinary shares of 10 pence each in the Company ('Ordinary Shares') at a price of 309 pence. The Ordinary Shares sold by each of the directors and PDMR were part of the Ordinary Shares issued under the 2015 Palace Capital Long Term Incentive Plan ('LTIP'), as announced by the Company on 3 January 2019. The Ordinary Shares have subsequently been sold in order to settle tax liabilities arising from the Ordinary Shares issued under the LTIP and additionally, in the case of Neil Sinclair, tax on a year-end bonus.
Please refer to the table below for the details for each of the directors and PDMR.
Name of Director
LTIP shares exercised1
LTIP shares sold
LTIP shares retained
Total Palace shares held
% of Palace shares in issue
Neil Sinclair
21,240
21,240
-
229,279
0.50%
Richard Starr
5,974
-
5,974
149,921
0.33%
Stephen Silvester
8,629
4,056
4,573
11,865
0.03%
David Kaye
3,540
3,540
-
-
-
1. As announced by the Company on 3 January 2019
The notifications below, which have been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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 (Chief Executive Officer)
Stephen Silvester (Finance Director)
David Kaye (Company Secretary)
2
Reason for the notification
a)
Position/status
See 1 a) above
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 shares
c)
Price(s) and volume(s)
Director/PDMR
Price(s)
Volume(s)
Neil Sinclair
309p
21,240
Stephen Silvester
309p
4,056
David Kaye
309p
3,540
d)
Aggregated information
- Aggregated volume
- Price
Price(s)
Volume(s)
309p
28,836
e)
Date of the transaction
10 January 2019
f)
Place of the transaction
London Stock Exchange, (XLON)
Attachments
Original document
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Disclaimer
Palace Capital plc published this content on 14 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 January 2019 07:43:03 UTC
Palace Capital plc is a United Kingdom-based real estate investment trust (REIT). The Company has a diversified portfolio of investments in United Kingdom commercial real estate in selected locations and outside of London. The Company holds a diversified portfolio across different sectors, including office, industrial, retail, leisure, retail warehouse and residential. It invests in university towns and city centers across different sectors in buildings either let to multiple tenants or single occupiers. The Company has a portfolio of approximately 16 properties.