Last checked at 5 Sep 2018 16:18
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 SharesNo. 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)
|
| ||||
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)
|
| ||||
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)
|
| ||||
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)
|
| ||||
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)
|
| ||||
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)
|
| ||||
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 | ||||