Palace Capital (GB:PCA) has released an update.
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Palace Capital PLC has made significant progress in returning capital to shareholders, selling £28.8 million in assets and returning £21.7 million via a tender offer, contributing to an EPRA NTA increase. Despite a 5.1% decline in portfolio valuation, the company maintained a strong cash position with net cash of £16.1 million and plans to further dispose of properties to continue rewarding shareholders. The firm’s strategic wind-down has already returned over £43 million to shareholders since July 2022.
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