Appointment of Non-Executive Director

RNS Number : 4337F

K&C REIT PLC

12 November 2015

 

12 November 2015

K&C REIT plc

("K&C REIT" or the "Company")

Appointment of Non-Executive Director

K&C REIT plc, the residential REIT group, is pleased to announce that Michael Davies has been appointed as a Non-Executive Director of the Company with immediate effect.

Mr Davies brings to K&C REIT almost thirty years' experience as a finance professional, working in a range of markets, including real estate in the UK and abroad.  Mr Davies has been providing strategic advice on London capital markets and restructurings for over twenty years, having joined Morgan Grenfell in 1983 before spending seventeen years at UBS Group AG, latterly as head of Group Mergers and Acquisitions.

Since leaving UBS in 2006, Mr Davies has focused on providing independent advice, assistance and investment to start-ups and small businesses. He is a founding partner of Q Street Capital, a London-based corporate adviser. Mr Davies trained and qualified as a chartered accountant with KPMG in London and is a graduate of Cambridge University.

Mr Davies will be appointed chairman of the Company's audit committee and will be a member of the remuneration committee.

Commenting on the appointment, Nigel Payne, Non-Executive Chairman of K&C REIT, said:

"We are delighted to welcome Michael to the Board. Michael brings with him a wide range of relevant experience which I'm sure will prove to be a great asset to the Company and the Board looks forward to working with him as we seek to scale the business over the coming months."

Regulatory disclosures

Michael Dudley Moran Davies (age 58) is or has been a director or partner of the following companies or partnerships during the previous five years:

Current directorships:

·     Q Street Capital Ltd

·     Q Street Capital Partners LLP

·     Riverstone Living Ltd

·     The Invicta Film Partnership No. 13 LLP

Past directorships:

·     Since 9/11 Foundation

·     Marsh Lane Plot Owners LLP

Mr Davies currently owns 1,250,000 ordinary shares in K&C REIT, equivalent to 2.85% of the Company's total issued share capital.

Contacts:

K&C REIT plc George Rolls, Chief Executive Tim James, Property Director	[e-mail] [phone]  www.kandc-reit.co.uk
Allenby Capital Limited Jeremy Porter/James Reeve	[phone]
Yellow Jersey PR Philip Ranger/Dominic Barretto	[phone]

Notes to editors:

K&C REIT's objective is to build a substantial residential property portfolio that generates secure income flow for shareholders through the acquisition of property-owning SPVs (Special Purpose Vehicles). The Directors intend that the group will acquire, develop and manage residential property assets in Central London and other key residential areas in the UK.

 

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