Distinguished prize-giver moving east (5)

I believe the answer is:

noble

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'distinguished' is the definition.
(I've seen this in another clue)

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for noble that I've seen before include "eg Earl" , "old British coin" , "Having high moral qualities" , "Illustrious, peer" , "Imposing, magnificent" .)

I've seen this clue in The Times.

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