Hamlins advises AIM-quoted Palace Capital plc on £32 million portfolio acquisition and £20 million institutional placing8th August 2014
Hamlins has advised long-standing client, AIM-quoted Palace Capital plc, on its acquisition of Property Investment Holdings and associated institutional placing of new ordinary shares by Allenby and Arden. The portfolio being acquired is valued at £32 million. Completion of the acquisition is conditional on approval by Palace shareholders.
The Hamlins team was led by corporate head Daniel Bellau who explained;
“This is the fourth transaction in four years for our long-standing client Palace and reflects Palace’s continued focus on growth. We are extremely pleased to have supported Palace on this transaction which is representative of the upturn in activity amongst Hamlins corporate, AIM and real estate clients generally.”
Neil Sinclair, CEO of Palace, commented “We are delighted to have exchanged contracts on this significant acquisition which will allow us to unlock further value from our portfolio to the benefit of our shareholders. Hamlins have given Palace their undivided support throughout this transaction, and our previous ones, and impressively pulled together a number of moving parts to bring the deal together to exchange.”