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Palace Capital Defends Chairman's Pay Amid Top Shareholder's Calls for Ouster

MT Newswires·01/08/2026 05:35:08
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05:35 AM EST, 01/08/2026 (MT Newswires) -- Palace Capital (PCA.L) said comments by Lakestreet Capital Partners regarding the UK-based property investment company's executive chairman were "inaccurate and misleading," amid concerns over remuneration and board costs. In a detailed Thursday statement, Palace Capital defended Chairman Steven Owen's pay, saying his compensation has been supported by the majority of its shareholders at the company's annual general meetings over the last three years and that the costs of its board were also significantly cut. Palace Capital added that a general meeting will be convened to consider the proposals put forward by Lakestreet, which is calling for the removal of Owens and the appointment of the private equity firm's own founders as board directors. Lakestreet is Palace Capital's top shareholder, holding a total stake of 22.53%.