Kcr Residential Regulatory News (KCR)

8 October 2020

KCR Residential REIT plc

("KCR" or the "Company")

Notice of AGM and Board Change

KCR Residential REIT plc announces that it is sending to shareholders notice of its annual general meeting, which will be held at 10:00 a.m. on 3 November 2020 at Scott House, Waterloo, London SE1 7LY. Copies of the meeting documents will be available on the Company's website, www.kcrreit.com.

In light of the ongoing COVID-19 pandemic and the UK Government's current compulsory measures restricting public gatherings, the AGM will be conducted as a closed meeting with the minimum necessary quorum of two shareholders. It is currently envisaged that anyone seeking to attend the meeting will have to be refused entry and therefore shareholders are encouraged to submit their vote by proxy, appointing the Chairman of the meeting as their proxy, in lieu of attending the AGM. The Board will continue to monitor the situation and may, if necessary, need to make further changes to the arrangements for the AGM, including how it is conducted. Shareholders should therefore continue to monitor the Group's website and announcements.

The Company also announces that its Chairman Michael Davies has decided to step down at this AGM and will therefore be resigning from the board at the conclusion of the meeting. We thank Michael for his commitment to the Company over the last five years.

James Thornton, currently an independent non executive director of KCR, will become the Non Executive Chairman of the board. KCR believes that a reduced board of four members is appropriate for a busines of its size and is in line with its efforts to reduce operating costs, assisting with its drive to profitability. As a result of these changes, the Company will only have one Independent Non-Executive Director. The Company acknowledges the recommendations of the QCA Corporate Governance Code, which it has adopted, and it is intended at the appropriate time to seek appointment of a further Independent Non-Executive Director.

Contacts:

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.