KCR Residential REIT PLC Financing (6980U)
01 April 2019 - 10:40PM
UK Regulatory
TIDMKCR
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
GBP150,000 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 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 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.
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
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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