K&C REIT PLC First Issue of Restricted Preference Shares (7253X)
February 24 2017 - 2:00AM
UK Regulatory
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
MSCQXLFLDLFLBBK
(END) Dow Jones Newswires
February 24, 2017 02:00 ET (07:00 GMT)
Kcr Residential Reit (LSE:KCR)
Historical Stock Chart
From Apr 2024 to May 2024
Kcr Residential Reit (LSE:KCR)
Historical Stock Chart
From May 2023 to May 2024