19th Jul 2022 11:21
Palace Capital PLC - London-based property investment company - Bins a proposed strategic change towards becoming an ESG driven regional office market specialist.
Still plans to pursue the sale of its industrial portfolio of eight assets, valued at GBP46.5 million. Proceeds will be returned to shareholders. Palace had initially planned to reposition itself as an environmental, social and governance-driven "regional office market specialist". The strategy has been changed after investor feedback.
As new strategy no longer going ahead, Senior Independent Director Mickola Wilson, Non-Executive Director Kim Taylor-Smith, and Non-Executive Director Paula Dillon will step down from the board with immediate effect.
Current stock price: 279.40 pence, up 5.0% on Tuesday
12-month change: up 4.8%
By Paul McGowan; [email protected]
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