Business
Grant of options under deferred bonus plan
Grant of options under deferred bonus plan.
About this update from Palace Capital Plc
[{"type":"text","content":"\n \nRNS Number : 7720R Palace Capital PLC 26 September 2017 \n\nPalace Capital plc\n(\"Palace Capital\" or the \"Company\")\n \nGrant of options under deferred bonus plan\n \nAs announced on 19 September 2017, Palace Capital, the property investment company that focuses on commercial property outside London, has today granted options over ordinary shares of 10p each in the Company (\"Ordinary Shares\") to certain directors of the Company under the Company's deferred bonus plan (the \"Options\"), as follows:\n \n\n\n\n\nDirector\n\n\nAmount of deferred bonus \n\n\nNo. of Options granted\n\n\nTotal options over Ordinary Shares outstanding \n\n\n\n\nNeil Sinclair\n\n\n£54,749\n\n\n15,553\n\n\n15,553\n\n\n\n\nStephen Silvester\n\n\n£32,140\n\n\n9,130\n\n\n9,130\n\n\n\n\nRichard Starr\n\n\n£41,006\n\n\n11,649\n\n\n11,649\n\n\n\n\nTotal\n\n\n£127,895\n\n\n36,332\n\n\n36,332\n\n\n\n\n \nThe Options are exercisable for zero cost per Option, will vest one year from the date of grant and have an expiry date of two years from the date of grant. The value of Options that have been issued in lieu of bonus entitlements totals £127,895, representing 35% of the Directors' bonuses for the year ended 31 March 2017, as detailed in the Company's report and accounts for the year ended 31 March 2017. The number of options granted has been calculated based on the average closing mid-market price of an Ordinary Share on the five business days ending 25 September 2017 of 352p.\n \nFollowing the grant of the Options, the Company has a total of 36,332 options outstanding over Ordinary Shares.\n \nNotification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.\n \n\n\n\n\n1\n\n\nDetails of the person discharging managerial responsibilities / person closely associated\n\n\n\n\na)\n\n\nName\n\n\nNeil Sinclair\n\n\n\n\n2\n\n\nReason for the notification\n\n\n\n\na)\n\n\nPosition/status\n\n\nChief Executive Officer\n\n\n\n\nb)\n \n\n\nInitial notification /Amendment\n\n\nInitial notification\n\n\n\n\n3\n \n\n\nDetails of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor\n\n\n\n\na)\n\n\nName\n\n\nPalace Capital plc\n\n\n\n\nb)\n\n\nLEI\n\n\n2138009JDFQOXJFCJQ05\n\n\n\n\n4\n&nbs...