Change of Adviser

RNS Number : 5991J
KCR Residential REIT PLC
28 April 2022
 

28 April 2022

 

KCR Residential REIT plc

 

("KCR" or the "Company")

 

Change of adviser

 

Further to the announcements by Arden Partners Plc on 11 and 14 April 2022 regarding the loss of its nominated adviser status upon the completion of its recommended takeover, the Company has appointed Cairn Financial Advisers LLP ("Cairn") as its nominated adviser ("Nomad"). Given the timing of the completion of the recommended takeover of Arden Partners Plc, the London Stock Exchange has agreed that subject to initial due diligence being undertaken, Cairn has until 5pm on 27 July 2022 to complete its full due diligence.

 

There can be no guarantee on the outcome of the full due diligence and its impact on Cairn's decision to continue to act as nominated adviser. Accordingly, in such circumstances there is a risk that if Cairn does not continue to act as nominated adviser following completion of its full due diligence and the Company has not found an alternative nominated adviser, the Company's AIM securities may be suspended pursuant to AIM Rule 1. If within one month of that suspension, the Company has failed to appoint a replacement nominated adviser, the admission of its AIM securities will be cancelled.

 

Notwithstanding the extension of time provided in respect of completing full due diligence obligations at engagement, Cairn will continue to be subject to all the ongoing nominated adviser responsibilities under the AIM Rules for Nominated Advisers.

 

 

For further information please contact:

KCR Residential REIT plc

Russell Naylor, Executive Director

info@kcrreit.com

Tel: +44 (0)20 7628 5582



Cairn Financial Advisers LLP (Nomad)

James Caithie / James Lewis / Louise O'Driscoll

 

Tel: +44 (0)20 7213 0880

 

Arden Partners Plc (Broker)

Richard Johnson

 

Tel: +44 (0)20 7614 5900

 

Notes to Editors:

KCR's objective is to build a substantial residential property portfolio that generates secure income flow for shareholders. The Directors intend that the group will acquire, develop and manage residential property assets in a number of jurisdictions including the UK.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
APPFZGZDVNGGZZM
UK 100

Latest directors dealings