Directorate Changes

RNS Number : 0352T

K&C REIT PLC

14 July 2015

 

14 July 2015

K&C REIT plc

("K&C REIT" or the "Company")

Directorate Changes

K&C REIT plc, the Central London-focused residential real estate group, announces the following changes to the roles of certain members of its Board of Directors.

In light of the strong pipeline of acquisition opportunities presented to the Company prior to and following its admission to AIM, the Board has decided to increase the dedicated resource allocated to its growth opportunities.  Accordingly, the Board is pleased to announce that Tim James, presently the Chief Executive, will assume, with immediate effect, the role of Property Director, a Board position dedicated to overseeing the sourcing, assessment and negotiation of acquisition opportunities.  The Board believes that the Company will derive considerable benefit from focusing Tim's significant experience and contacts in the Central London residential property market on overseeing the development of the Company's acquisition pipeline.  

George Rolls, who has extensive public company experience and is currently the senior Non-Executive Director of the Company, will take up the position of Chief Executive of the Company with immediate effect.

Commenting on the changes, Nigel Payne, Chairman said:

"We have been shown an increasing number of attractive acquisition opportunities and the Board is convinced that the growth prospects of the business are strong. I am delighted that George is joining the Company on a full-time basis as Chief Executive and I look forward to working with him and Tim in growing our portfolio of properties. Following these changes, we will be considering the appointment of a further non-executive director in the near future."

Contacts:

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

 

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