Allotment of Restricted Preference Shares

RNS Number : 9030Z
KCR Residential REIT PLC
05 September 2018
 

5 September 2018

KCR Residential REIT plc

("KCR" or "the Company")

Allotment of Restricted Preference Shares

KCR Residential REIT plc, the residential REIT group, announces that, following the passing of the resolutions at the Company's general meeting on 30 July 2018, the directors have approved the allotment of 1,500,000 Restricted Preference Shares, fully paid, to the following directors and employees (which correspond to the total authorised but unissued amount as set out in the circular posted to shareholders on 13 July 2018 (the "Circular"))

Name

Restricted Preference Shares
No. allotted

Amount subscribed
£

Dominic White

265,357

26,536

James Cane

10,000

1,000

Timothy James

265,357

26,536

Christopher James

214,286

21,428

Benjamin James

214,286

21,428

Timothy Oakley

265,357

26,536

Oliver Vaughan

265,357

26,536

Total

1,500,000

£150,000

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:

Name of Director

No. of Ordinary Shares held

% of issued voting share capital

No. of Restricted Preference Shares held

Dominic White (1)

57,143

0.40%

1,765,357

James Cane

1,318

0.01%

40,000

Timothy James

504,492

3.53%

1,225,357

Oliver Vaughan (2)

73,065

0.51%

1,075,357

Notes:

(1)        Includes 1,000,000 Restricted Preference Shares held by Mr White's pension fund, White Amba Pension Scheme

(2)        Includes 66,500 ordinary shares held by Grosmont Investments Limited, a company controlled by Oliver Vaughan.  Mr Vaughan's Restricted Preference Shares are held in his own name.

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 30 July 2018.  Copies of the Circular and of the New Articles can be found on the Company's website www.kcrreit.com.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information, please contact:

KCR Residential REIT plc

info@kcrreit.com

Dominic White, Chief executive

+44 20 3793 5236

Arden Partners plc


Steve Douglas / Benjamin Cryer

+44 20 7614 5917

 

Notes to editors:

KCR's objective is to build a substantial residential property portfolio that generates secure income flow for shareholders through the acquisition of SPVs (Special Purpose Vehicles) with inherent historical capital gains. The Directors intend that the group will acquire, develop and manage residential property assets in residential areas in the UK. 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Oliver Vaughan

2

 

Reason for the notification

 

a)

 

Position/status

 

Director

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

KCR Residential REIT plc

b)

 

LEI

 

213800NTHWVFLSB9CX32

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Restricted Preference Shares

b)

 

Nature of the transaction

 

Allotment of Restricted Preference Shares

c)

 

Price(s) and volume(s)

 

 

Price(s)

 

Volume(s)

£0.10

265,357

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (Single transaction)

 

 

 

 

e)

 

Date of the transaction

 

5 September 2018

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Timothy James

2

 

Reason for the notification

 

a)

 

Position/status

 

Director

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

KCR Residential REIT plc

b)

 

LEI

 

 

213800NTHWVFLSB9CX32

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Restricted Preference Shares

b)

 

Nature of the transaction

 

Allotment of Restricted Preference Shares

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

£0.10

265,357

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (Single transaction)

 

 

 

 

e)

 

Date of the transaction

 

5 September 2018

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

James Cane

2

 

Reason for the notification

 

a)

 

Position/status

 

Director

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

KCR Residential REIT plc

b)

 

LEI

 

213800NTHWVFLSB9CX32

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Restricted Preference Shares

b)

 

Nature of the transaction

 

Allotment of Restricted Preference Shares

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

£0.10

10,000

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (Single transaction)

 

 

 

 

e)

 

Date of the transaction

 

5 September 2018

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Christopher James

2

 

Reason for the notification

 

a)

 

Position/status

 

PDMR

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

KCR Residential REIT plc

b)

 

LEI

 

213800NTHWVFLSB9CX32

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Restricted Preference Shares

b)

 

Nature of the transaction

 

Allotment of Restricted Preference Shares

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

£0.10

214,286

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (Single transaction)

 

 

 

e)

 

Date of the transaction

 

5 September 2018

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Timothy Oakley

2

 

Reason for the notification

 

a)

 

Position/status

 

PDMR

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

KCR Residential REIT plc

b)

 

LEI

 

213800NTHWVFLSB9CX32

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Restricted Preference Shares

b)

 

Nature of the transaction

 

Allotment of Restricted Preference Shares

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

£0.10

265,357

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (Single transaction)

 

e)

 

Date of the transaction

 

5 September 2018

f)

 

Place of the transaction

 

Outside a trading venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Dominic White

2

 

Reason for the notification

 

a)

 

Position/status

 

Director

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

KCR Residential plc

b)

 

LEI

 

213800NTHWVFLSB9CX32

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

 

Identification code

 

Restricted Preference Shares

b)

 

Nature of the transaction

 

Allotment of Restricted Preference Shares

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

£0.10

265,357

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (Single transaction)

 

 

 

e)

 

Date of the transaction

 

5 September 2018

f)

Place of the transaction

Outside a trading venue

 


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