Palace Capital (GB:PCA) has released an update.
Palace Capital PLC has announced a Tender Offer aiming to repurchase up to 8,667,760 Ordinary Shares for a maximum of £21.67 million, allowing shareholders to tender shares at a premium of 250 pence each. This initiative is part of the company’s strategy to return capital to shareholders, with the offer opening on June 14, 2024, and contingent on shareholder approval at an upcoming General Meeting. Executive Chairman Steven Owen highlights the flexibility and benefits of the Tender Offer, with further capital returns anticipated later in the year.
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