Business
Result of Tender Offer
Palace Capital PLC announced the results of its tender offer, which was oversubscribed with 25,605,752 ordinary shares tendered. The company accepted 8,667,760 ordinary shares, representing approximately 30% of the issued ordinary share capital, for a total cash consideration of approximately £20.8 million at a tender price of 240 pence per ordinary share. These repurchased shares will be cancelled by September 2, 2025. Following the tender offer, the company will have 20,224,775 ordinary shares in issue, representing the total number of voting rights. Disclaimer*
About this update from Palace Capital Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU 596/2014) AS IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED\n \n 28 August 2025\n \nPalace Capital plc\n(\"Palace\" or the \"Company\")\n \nResult of Tender Offer\n \nFurther to the Tender Offer Circular dated 31 July 2025 (the \"Circular\"), the Company is pleased to announce the result of the Tender Offer. \n \nThe Tender Offer was for up to 8,667,761 Ordinary Shares and the Company today announces that a total of 25,605,752 Ordinary Shares were tendered and therefore the Tender Offer was oversubscribed. Consequently, 8,667,760 Ordinary Shares have been accepted pursuant to the Tender Offer (after applying the scaling down mechanism in the Circular) representing a total aggregate cash consideration of approximately £20.8 million (the Tender Price is 240 pence per Ordinary Share) and approximately 30% of the current issued ordinary share capital of the Company.\n \nAll Ordinary Shares repurchased by the Company pursuant to the Tender Offer will be cancelled and this is expected to take place by 2 September 2025. \n \nIn accordance with the terms of the Tender Offer provided in the Circular, CREST accounts will be credited with unsuccessfully tendered uncertificated holdings of Ordinary Shares not later than 1 September 2025. CREST accounts will be credited in respect of Tender Offer proceeds for uncertificated Ordinary Shares by 4 September 2025. For certificated Shareholders, cheques and balancing share certificates for revised, certificated holdings in the case of partially successful tenders, will be despatched by 15 September 2025.\n \nTotal Voting Rights\nFollowing the completion of the Tender Offer, the Company will have 20,224,775 Ordinary Shares in issue with no Shares held in treasury. Therefore, the total number of voting rights in the Company will be 20,224,775 and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to...