Financing

RNS Number : 6980U

KCR Residential REIT PLC

01 April 2019

 

1 April 2019

KCR Residential REIT plc

("KCR" or "the Company")

Financing

KCR Residential REIT plc, the residential REIT group, announces that Oliver Vaughan, a non-executive director, has advanced £150,000 to the Company to provide additional working capital. The loan is unsecured and repayable on 15 May 2019. There is no right of conversion into equity.

Related Party Transaction

The loan from Oliver Vaughan is considered a related-party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The directors (other than Oliver Vaughan) consider, having consulted with Arden Partners, the Company's nominated adviser, that the terms of the loan are fair and reasonable in so far as KCR's shareholders are concerned.

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	[e-mail]
Dominic White, Chief executive	[phone]
Arden Partners plc
Tom Price / Benjamin Cryer	[phone]

Notes to editors:

KCR's objective is to build a substantial low-to-mid-priced residential property portfolio that generates both secure income flow and increasing net asset value for shareholders. KCR acquires blocks of studio, one-and two-bed apartments that are close to transport links, shopping and leisure. 

 

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