Business
Repayment of convertible loan notes
Repayment of convertible loan notes.
About this update from Palace Capital Plc
[{"type":"text","content":"\n \nRNS Number : 5902I Palace Capital PLC 03 June 2014 \n \n\n03 June 2014\n \nPALACE CAPITAL PLC\n(\"Palace Capital\" or the \"Company\")\n \nRepayment of convertible loan notes\n \nPalace 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.\n \nFollowing the repayment of the Loan Notes the Company no longer has any outstanding convertible loan notes.\n \n-ends-\nFor further information contact:\n \n\n\n\n\nPalace Capital Plc\n\n\nTel. +44 (0)20 7722 7603\n\n\n\n\nNeil Sinclair, Managing Director\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nAllenby Capital Limited\n\n\nTel. +44 (0) 20 3328 5656\n\n\n\n\nNick Naylor, Corporate Finance\nJames Reeve, Corporate Finance\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nArden Partners plc\n\n\nTel: +44 (0) 20 7614 5917\n\n\n\n\nChristopher Hardie, Corporate Finance\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nBroker Profile (Financial PR)\n\n\nTel. +44(0) 20 7448 3244\n\n\n\n\nSimon Courtenay\nTamsin Shephard\n\n\n \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCSSEFSEFLSEEM\n ","length":4141,"tagName":"div"}]