Business
Further Share Buyback Programme
Palace Capital PLC has announced a new share buyback programme, authorizing the purchase of up to 300,000 ordinary shares. This initiative, managed by Cavendish, will commence immediately and run for a maximum of six months, concluding by October 23, 2026, or earlier if the maximum number of shares is acquired or the company's buyback authority is not renewed. The buyback is subject to shareholder approval at the upcoming annual general meeting, with shares intended to be held in treasury and subsequently cancelled. Due to the limited liquidity of its shares, the buyback may represent a significant proportion of daily trading volume, exceeding 25% of the average daily volume. Disclaimer*
About this update from Palace Capital Plc
LEI:2138009JDFQOXJFCJQ05 23 April 2026 Palace Capital PLC ("Palace Capital" or the "Company") Further Share Buyback Programme The Board of Directors (the "Board") of Palace Capital announces it has approved a share buyback programme of up to 300,000 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") (the "Buyback Programme") as a further step of a wider capital return programme it is progressing with its advisers. The Company has instructed Cavendish to conduct the Buyback Programme on its behalf on a broker-managed basis, with trading decisions taken independently of the Company based parameters set by the Board. The Buyback Programme commences today and will end no later than six months from today, on 23 October 2026, or earlier if the maximum number of Ordinary Shares has been reached or the Company's buyback authority is not renewed at or before its next annual general meeting. The Buyback Programme will be conducted in accordance with the terms of the Company's authority to make market purchases of its own Ordinary Shares granted to it by shareholders on 9 July 2025 (the "Authority"), including that the price paid per Ordinary Share will not be less than the nominal value of the Ordinary Shares, and the maximum price paid per Ordinary Share (excluding expenses) will be no more than the higher of either 105 per cent. of the average middle market closing price of an Ordinary Share as shown on the Daily Official List for the five business days preceding the date of any buyback; and an amount equal to the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share on the trading venue where the purchase is carried out. The Authority will expire on 9 October 2025 or, if earlier, at the conclusion of the Company's next annual general meeting ("AGM"), at which a proposal (amongst others) will be put to shareholders to renew the Company's ability to make market purchases of its Ordinary Shares. Accordingly, the Buyback Programme will continue after that date pursuant to such renewed authority and will be conditional on the approval of the same by shareholders. The Company intends to hold all Ordinary Shares so purchased in treasury during the course of the Buyback Programme and, following completion of the Buyback Programme, will see...
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