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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kcr Residential Reit Plc | LSE:KCR | London | Ordinary Share | GB00BYWK1Q82 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.00 | 8.00 | 10.00 | 9.50 | 9.00 | 9.50 | 10 | 08:00:04 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 1.58M | -166k | -0.0040 | -22.50 | 3.75M |
TIDMKCR
RNS Number : 7253X
K&C REIT PLC
24 February 2017
K&C REIT plc
("K&C REIT" or the "Company")
Allotment of Restricted Preference Shares and cancellation of Executive Option Arrangements
K&C REIT plc, the residential REIT group, announces that, following the passing of the resolutions at the Company's general meeting on 20 February 2017, the directors on 22 February 2017 approved the allotment of Restricted Preference Shares, fully paid, to the following directors and entities (which correspond to the amounts as set out in the circular posted to shareholders on 27 January 2017 (the "Circular") for those directors and entities)
Restricted Preference Shares Amount subscribed Name No. allotted GBP ------------------------------- -------------- ------------------ White Amba Limited, a company controlled by Dominic White 5,000,000 50,000 James Cane 300,000 3,000 Timothy Oakley 3,000,000 30,000 Oliver Vaughan 8,100,000 81,000 Total 16,400,000 GBP164,000 -------------- ------------------
Following the allotment of such Restricted Preference Shares, the interests of Dominic White, James Cane, Timothy Oakley and Oliver Vaughan in shares in the Company will be as follows:
Number Number of of Ordinary % of issued Number Restricted Name of Shares voting share of warrants Preference Director held capital held Shares held ---------------- ------------- -------------- ------------- ------------- Dominic White (1) Nil Nil Nil 5,000,000 James Cane 10,000 0.02% 10,000 300,000 Timothy Oakley 350,000 0.75% 50,000 3,000,000 Oliver Vaughan (2) 675,000 1.44% 175,000 8,100,000
Notes:
(1) The Restricted Preference Shares are held by White Amba Limited, a company controlled by Dominic White.
(2) Includes 665,000 ordinary shares and 165,000 warrants held by Grosmont Investments Limited, a company controlled by Oliver Vaughan. Mr Vaughan's Restricted Preference Shares are held in his own name.
Further allotments to other executives, also in the amounts set out in the Circular, are expected to be made after the announcement of the interim results of the Group at the end of March 2017.
The Restricted Preference Shares, their terms and the rights attaching to them are described in the Circular, and the full terms of the Restricted Preference Shares are set out in the new articles of association (the "New Articles") adopted by the Company at the general meeting held on 20 February 2017. Copies of the Circular and of the New Articles can be found on the Company's website www.kandc-reit.co.uk.
Under the terms of the Cancellation Deeds (as defined in the Circular), the issue of the Restricted Preference Shares to James Cane, Timothy Oakley and Oliver Vaughan in the amounts set out above automatically resulted in the cancellation of the Executive Option Arrangements for those directors.
For further information, please contact:
K&C REIT plc info@kandc-reit.co.uk +44 20 3793 Dominic White, Chief executive 5236 +44 7768 833 Tim James, Property director 029 +44 20 7601 Stockdale Securities (nominated adviser and joint broker) 6100 Antonio Bossi / Robert Finlay / El Hanan Lee +44 20 7469 Peterhouse Corporate Finance Limited (joint broker) 0933 Lucy Williams / Heena Karani +44 7747 788 Yellow Jersey PR 221 Charles Goodwin
Notes to editors:
The Group operates in the residential private rented sector (PRS), with an emphasis on Central London. The residential sector has several sub-categories, including PRS, which was K&C's original focus, retirement residential, residential care and social housing. K&C's operations in the market broadened following the acquisition of K&C (Osprey) to include the retirement residential sub-category in London and the southeast of the UK.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 24, 2017 02:00 ET (07:00 GMT)
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