Results of General Meeting

Palace Capital PLC

29 June 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

29 June 2026

PALACE CAPITAL PLC
Approval of Waiver under Rule 9 of the Takeover Code
Results of General Meeting

On 11 June 2026, Palace Capital plc (the "Company") published a circular (the "Circular") convening a General Meeting in connection with the proposed waiver (the "Waiver") under Rule 9 of the City Code on Takeovers and Mergers (the "Takeover Code") of the obligation that would otherwise arise on Lakestreet Capital Partners AG and its concert parties (together, the "Concert Party") to make a mandatory cash offer for the ordinary shares in the capital of the Company not already owned by the Concert Party, as a result of any purchases of Shares by the Company pursuant to its existing share buy-back authority.

The Company announces that the General Meeting to consider the Resolution relating to the Waiver was held today and the Resolution was approved by the requisite majority of shareholders (other than members of the Concert Party ("Independent Shareholders")) on a poll.

The results of the poll were as follows:

Ordinary Resolution: Approval of the Waiver under Rule 9 of the Takeover Code

	Number of Shares voted	% of votes cast
FOR	5,516,850	62.67%
AGAINST	3,285,514	37.33%
WITHHELD	540	-

Votes withheld are not counted in the calculation of the proportion of votes for or against the Resolution.

As a result of the passing of the Resolution, the Waiver has now taken effect. The Panel has waived the obligation of the Concert Party to make a mandatory cash offer for Shares not already owned by the Concert Party that would otherwise arise under Rule 9 of the Takeover Code as a result of a share buy-back.

Christian Kappelhoff-Wulff, Non-Executive Chairman of the Company commented, "I would like to thank shareholders for the support they have shown the Company at this meeting. The board looks forward to delivering a positive outcome for all investors."

Enquiries:

Palace Capital plc
Christian Kappelhoff-Wulff, Non-Executive Chairman
[e-mail]

Broker
Cavendish
Matt Lewis, Head of Corporate Broking
Tel: [phone]
[e-mail]

Important Notices

Cavendish Capital Markets Limited ("Cavendish") is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Cavendish is acting exclusively for the Company and for no one else in connection with the Waiver and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Cavendish, nor for providing advice in relation to this announcement or any other matters referred to herein. Neither Cavendish nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Cavendish in connection with this announcement, any statement contained herein or otherwise.

 

END