17 October 2023
Palace Capital PLC
("Palace Capital", the "Company" or the "Group")
Director / PDMR Dealing
Palace Capital (LSE: PCA) announces the following transactions by a Director and certain PDMRs of the Company pursuant to the awards granted on 14 October 2020 under the Palace Capital Long Term Incentive Plan (2020 LTIP).
On 16 October 2023, 50% of the awards granted under the 2020 LTIP vested in line with the Performance Conditions set at the time of award. In accordance with the rules of the plan, additional shares were added to each award equivalent to the dividends payable during the three year performance period.
The Director and PDMRs exercised and received their awards net of income tax and national insurance liabilities, retaining the balance. Awards were satisfied using shares from the Palace Capital PLC Employee Benefit Trust.
Director and PDMR shareholdings
Following these transactions, the Director and PDMR's, including persons closely associated with them, have the following interests in the Ordinary Shares of 10 pence of the Company:
| Director/PDMR | Shares held prior to the transactions | Net number of Shares acquired | Total Palace shares held | % of Palace shares in issue |
| Matthew Simpson, Chief Financial Officer | 21,084 | 9,349 | 30,433 | 0.1% |
| Daniel Davies, Head of Asset Management | 3,682 | 9,349 | 13,031 | 0.03% |
| Thomas Hood Head of Investment | 3,138 | 8,534 | 11,672 | 0.03% |
PALACE CAPITAL PLC
Steven Owen, Executive Chairman / Matthew Simpson, Chief Financial Officer
info@palacecapitalplc.com
Financial PR
FTI Consulting
Dido Laurimore/ Giles Barrie
Tel: +44 (0)20 3727 1000
palacecapital@fticonsulting.com
www.palacecapitalplc.com
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | a. Matthew Simpson (Chief Financial Officer) b. Daniel Davies (Head of Asset Management) c. Thomas Hood (Head of Investment) |
| 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 | Exercise of option over Ordinary shares of 10p
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: nil a. 9,349 b. 9,349 c. 8,534 |
| d) | Aggregated information - Aggregated volume - Price |
27,232 Nil |
| e) | Date of the transaction | 16 October 2023 |
| f) | Place of the transaction | Outside a trading venue |
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