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