TIDMKCR
RNS Number : 0433L
KCR Residential REIT PLC
20 December 2018
20 December 2018
KCR Residential REIT plc
("KCR" or "the Company")
Conversion of Restricted Preference Shares and Issue of
Equity
KCR Residential REIT plc, the residential REIT group, announces
that, following confirmation that the Company's net asset value per
share ("NAV per Share") as reported in the audited accounts for the
year to 30 June 2018 (GBP0.8817) exceeded the first two of the six
NAV per Share milestones (namely, GBP0.77 and GBP0.85) (as approved
by shareholders in the general meeting held on 30 July 2018), the
directors have approved the conversion of 1,500,000 Restricted
Preference Shares ("RPS") into 1,500,000 Ordinary shares fully paid
of GBP1.00 nominal value ("Ordinary Shares") to the following
directors and employees. 1,500,000 RPS represent two-sixths of the
RPS in issue (4,500,000) at the balance sheet date on which the
audited NAV per Share was calculated.
No. of Restricted
Preference Shares
held at 18 No. of RPS No. of Ordinary
Name December 2018 converted Shares allotted
Dominic White 1,765,357 500,000 500,000
James Cane 40,000 10,000 10,000
Timothy James 1,225,357 320,000 320,000
Christopher James 814,286 200,000 200,000
Benjamin James 514,286 100,000 100,000
Timothy Oakley 565,357 100,000 100,000
Oliver Vaughan 1,075,357 270,000 270,000
=================== =========== =================
Total 6,000,000 1,500,000 1,500,000
=================== =========== =================
Following the conversion of such RPS into Ordinary Shares, the
interests of directors and employees in the shares in the Company
are as follows:
% of enlarged
No. of Ordinary issued voting
Name of Director Shares held share capital No. of RPS held
Dominic White
(1) 557,143 3.53 1,265,357
James Cane 11,318 0.07 30,000
Michael Davies 195,428 1.24 -
Timothy James 824,492 5.22 905,357
Christopher
James 538,180 3.41 614,286
Timothy Oakley 136,590 0.86 465,357
Oliver Vaughan
(2) 343,065 2.17 805,357
================ =============== ================
Total 2,606,216 16.50 4,500,000
================ =============== ================
Notes:
(1) Includes 666,667 RPS held by Mr White's pension fund, White
Amba Pension Scheme and 333,333 Ordinary Shares held by White Amba
Pension Scheme
(2) Includes 66,500 ordinary shares held by Grosmont Investments
Limited, a company controlled by Oliver Vaughan. Mr Vaughan's RPS
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.
Issue of Equity and Total Voting Rights
Application has been made for the admission to AIM ("Admission")
of 1,500,000 new Ordinary Shares, being the total number of shares
issued following the conversion of the Restricted Preference
Shares.
The new Ordinary Shares rank pari passu with the Company's
existing issued Ordinary Shares, and dealing is expected to
commence on 27 December 2018.
Following Admission, the Company's enlarged issued share capital
will be 15,791,777 Ordinary Shares. This figure of 15,791,777
Ordinary Shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
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
Tom Price / 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 Ordinary Shares
instrument, type of instrument
Identification code
-------------------------------- ------------------------------------
b) Nature of the transaction Conversion of Restricted Preference
Shares
-------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP1.00 270,000
----------
-------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
- Aggregated volume
- Price
-------------------------------- ------------------------------------
e) Date of the transaction 19 December 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 Ordinary Shares
instrument, type of instrument
Identification code
-------------------------------- ------------------------------------
b) Nature of the transaction Conversion of Restricted Preference
Shares
-------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP1.00 320,000
----------
-------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
- Aggregated volume
- Price
-------------------------------- ------------------------------------
e) Date of the transaction 19 December 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 Ordinary Shares
instrument, type of instrument
Identification code
-------------------------------- ------------------------------------
b) Nature of the transaction Conversion of Restricted Preference
Shares
-------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP1.00 10,000
----------
-------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
- Aggregated volume
- Price
-------------------------------- ------------------------------------
e) Date of the transaction 19 December 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 Ordinary Shares
instrument, type of instrument
Identification code
-------------------------------- ------------------------------------
b) Nature of the transaction Conversion of Restricted Preference
Shares
-------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP1.00 200,000
----------
-------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
- Aggregated volume
- Price
-------------------------------- ------------------------------------
e) Date of the transaction 19 December 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 Ordinary Shares
instrument, type of instrument
Identification code
-------------------------------- ------------------------------------
b) Nature of the transaction Conversion of Restricted Preference
Shares
-------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP1.00 100,000
----------
-------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
- Aggregated volume
- Price
-------------------------------- ------------------------------------
e) Date of the transaction 19 December 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 Ordinary Shares
instrument, type of instrument
Identification code
-------------------------------- ------------------------------------
b) Nature of the transaction Conversion of Restricted Preference
Shares
-------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP1.00 500,000
----------
-------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
- Aggregated volume
- Price
-------------------------------- ------------------------------------
e) Date of the transaction 19 December 2018
-------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- ------------------------------------
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
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of this information may apply. For further information, please
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END
IOEFKCDNFBDDQBD
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December 20, 2018 02:00 ET (07:00 GMT)
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