KCR Residential REIT PLC Exercise of options (9606X)
07 May 2021 - 10:04PM
UK Regulatory
TIDMKCR
RNS Number : 9606X
KCR Residential REIT PLC
07 May 2021
7 May 2021
KCR Residential REIT plc
("KCR" or the "Company")
Exercise of Torchlight options and Total voting rights
KCR Residential REIT plc announces that it has received a notice
of exercise from Torchlight Fund LP ("Torchlight") in respect of
600,000 options over KCR ordinary shares of 10p each ("Shares") at
a price of 19.8079p per Share, calculated by reference to 95% of
KCR's average 30-day VWAP prior to the notice.
Following this exercise, Torchlight's interest in the Company
shall increase to 9,600,000 Shares, representing 34.08% of the
Company's enlarged issued share capital, and 49,400,000 options. As
detailed in the Company's announcements on 12 July 2019 and 29 July
2019, shareholders have approved a waiver of the obligations under
Rule 9 of the Takeover Code in relation to Torchlight's
shareholding increase.
Application has been made to the London Stock Exchange for
600,000 new Shares to be admitted to trading on AIM ("Admission")
and Admission is expected to occur on or around 13 May 2021. The
new Shares will, upon issue, rank pari passu with the existing
Ordinary Shares in the Company.
Following Admission, the Company's enlarged issued share capital
will be 28,169,631 Ordinary Shares. The Company holds no Ordinary
Shares in Treasury. This figure of 28,169,631 Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure Guidance and Transparency
Rules.
Contacts:
KCR Residential REIT plc info@kcrreit.com
Dominic White, Chief Executive +44 20 3793 5236
Arden Partners plc
Richard Johnson
Benjamin Cryer +44 20 7614 5900
Notes to Editors:
KCR's objective is to build a substantial residential property
portfolio that generates secure income flow for shareholders. The
Directors intend that the group will acquire, develop and manage
residential property assets in a number of jurisdictions including
the UK.
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END
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