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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 £46.5 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%
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