PALACE CAPITAL PLC (PCA) — Palace Capital plc Annual Results Presentation

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the PALACE CAPITAL Annual Results Investor Presentation. Just a reminder throughout this presentation, investors will be in listen only mode and the questions can be submitted at any time using the Q and A tab situated on the right hand corner of your screen. Just please simply type in your question and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company review all questions submitted today and publish responses where it's appropriate to do so. These will be available via your Investor Meet company dashboard, and we will notify you by e mail when they are ready for your review. I'd also like to remind you that this presentation is being recorded. Before we begin, we'd like to submit the following poll, and we'd be grateful if you could give that to your kind attention. And I'd now like to hand over to Neil Sinclair, CEO and Stephen Silvesta from PALACE CAPITAL. Good morning to you both. Good morning, everybody. Welcome to the presentation of our results for this year. Let's go through our presentation and looking at highlights. Just to say straight away that when the pandemic struck last year, we decided to take very strong action on one particular area, which was rent collection. As you know, the government had brought in a moratorium in on the question of statutory demands on tenants who don't pay rent, irrespective of whether they have the ability to pay rent or not. And we were very concerned about that. Our properties are managed externally by leading agents, but we decided to take this matter into hand ourselves, and all our asset managers contacted all the tenants direct to strike up a dialogue and to see what rent we could colle...