Palace Capital PLC Directorate Change (4568T)
15 Novembro 2023 - 4:01AM
UK Regulatory
TIDMPCA
RNS Number : 4568T
Palace Capital PLC
15 November 2023
15 November 2023
Palace Capital plc
("Palace Capital" or the "Company")
Directorate Change
Today, the Company has announced further progress in the
delivery of its strategy to focus on maximising cash returns to
shareholders. In light of this, Matthew Simpson, CFO and the Board
have agreed that now is the right time for Matthew to step down as
a Director and from the Board. The Company's financial
circumstances (including cancellation of bank facilities and
reduced portfolio size) mean that the CFO role is significantly
reduced and therefore no longer requires the level of expertise and
skillset that Matthew contributes.
Going forward, the financial operations of the Company will be
managed by the Financial Controller and Financial Planning Analyst
with operational oversight by Steven Owen, as Executive Chairman
and by the Audit and Risk Committee on behalf of the Board. After a
short handover, Matthew will leave the Company at the end of this
month.
Matt's CFO report for the Half Year is contained within the Half
Year Report.
Matthew leaves with the Board's best wishes and gratitude for
his eight years with the Company, latterly as CFO and prior to that
as Financial Controller. He has supported the Board in reshaping
the Company over the last sixteen months including returning cash
to shareholders and reducing bank debt.
Commenting, Matthew said: "After eight years, the last two years
of which were as CFO, the timing is now right for me to explore new
opportunities and pursue a fresh challenge. I leave Palace Capital
in a robust financial position, having deleveraged the balance
sheet with debt and LTV significantly reduced and the Company is
well placed to deliver on its strategy of maximising cash returns
to shareholders.
"I have enjoyed working with the current board and the wider
team over the last two years and wish them all the best for the
future."
Palace Capital plc
Steven Owen, Executive Chairman
info@palacecapitalplc.com
Financial PR
FTI Consulting
Dido Laurimore / Giles Barrie
Tel: +44 (0)20 3727 1000
palacecapital@fticonsulting.com
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END
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(END) Dow Jones Newswires
November 15, 2023 02:01 ET (07:01 GMT)
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