Business
Disposal of Holding in Circle Property Plc
Disposal of Holding in Circle Property Plc.
About this update from Palace Capital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4617N\n Palace Capital PLC\n 30 September 2021\n \n \n \n \n 30 September 2021\n \n \n \n \n \n PALACE CAPITAL PLC\n \n \n (\"Palace Capital\" or the \"Company\")\n \n \n Disposal of Holding in Circle Property Plc\n \n \n \n \n \n Palace Capital (LSE: PCA) the Main Market listed property investment company that has a diversified portfolio of UK commercial real estate in carefully selected locations outside of London but focusing on the office and industrial sectors, announces that it has disposed of its entire shareholding in Circle Property Plc. 1,592,500 shares were sold at a price of 200p per share.\n \n \n \n Neil Sinclair, Chief Executive of Palace Capital commented:\n \n \"Our investment has delivered a total return of 8.6% and we have taken the decision to exit now as part of our strategy to recycle capital into higher growth opportunities as part of our acquisition programme.\n \n \n \n \n \n \n \n \n For further information please contact:\n \n \n PALACE CAPITAL PLC\n \n \n Neil Sinclair, Chief Executive\n \n \n Stephen Silvester, Chief Financial Officer\n \n \n Tel. +44 (0)20 3301 8331\n \n \n Broker\n \n \n Numis Securities\n \n \n Heraclis Economides / George Fry\n \n \n Tel: +44 (0)20 7260 1000\n \n \n Broker\n \n \n Arden Partners plc\n \n \n Corporate Finance: Paul Shackleton / Elliot Mustoe\n \n \n Corporate Broking: James Reed-Daunter\n \n \n Tel: +44 (0)207 614 5900\n \n \n Financial PR\n \n \n FTI Consulting\n \n \n Claire Turvey / Katie Hughes\n \n \n Tel: +44 (0)20 3727 1000\n \n \n [email protected]\n \n \n About Palace Capital plc\n \n \n Palace Capital plc (LSE: PCA) is a UK REIT that has a £274 million diversified portfolio of UK regional commercial property. The Company maintains a disciplined investment strategy focused on towns and cities outside of London that are characterised by thriving local economies and strengthening fundamentals. Within those locations the highly experienced management team select assets that provide opportunities to drive both capital value and long-term rental income through tailored active asset management programmes ultimately delivering attractive shareholder returns.\n \n \n \n www.palacecapitalplc.com\n \n \n \n \n \n \n \n This information is provided by RNS, the news service of the London Stock...