3rd Jun 2014 09:42
LONDON (Alliance News) - Palace Capital PLC Tuesday said it no longer has any outstanding loan notes that can be converted into shares, after repaying GBP300,000 of the instruments.
In a statement, the AIM-quoted property investment company, which focuses on investing in the UK's secondary property market outside London, said the convertible loan notes were issued on September 8, 2011.
The loan notes were repaid at par value. They carried interest at 4% a year and were repaid in cash.
Palace Capital shares were Tuesday quoted at 257.00 pence, down 1.5%.
By Samuel Agini; [email protected]; @samuelagini
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