Change in share ownership

RNS Number : 3427T

K&C REIT PLC

11 October 2017

 

11 October 2017

K&C REIT plc


Change in share ownership by a significant shareholder

K&C REIT plc ("K&C" or "Company") was informed on 10 October 2017 that the pension fund of Mr Michael Wellesley-Wesley ("the Pension Fund"), an existing significant shareholder in the Company, has made a number of previously undisclosed purchases of ordinary shares of 1p each in the Company ("Ordinary Shares") since late 2015.  Certain of these purchases should have been disclosed to K&C at the time of dealing, details of which are set out below.

On 25 February 2016, the Pension Fund acquired 250,000 Ordinary Shares, giving Mr Wellesley-Wesley an aggregate holding of 2,750,000 Ordinary Shares, representing 6.28 per cent. of the Company.

On 28 April 2017, the Pension Fund acquired 250,000 Ordinary Shares, giving Mr Wellesley-Wesley an aggregate holding of 3,815,000 Ordinary Shares, representing 7.23 per cent. of the Company.

As at 10 October 2017, Mr Wellesley-Wesley's aggregate holding is 4,140,000 Ordinary Shares representing 7.85 per cent. of the Company.

ENDS

Contacts:

K&C REIT plc Dominic White, Chief executive Tim James, Property director Arden Partners plc William Vandyk Steve Douglas	[e-mail] [phone] [phone] [phone]
Yellow Jersey PR Charles Goodwin	[phone]

Notes to Editors:

K&C'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 London and other key residential areas in the UK. 

 

END

 

 

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