03 November 2016
Mr Tim James, managing director of K&C, has on 2 November 2016 acquired 1,100,000 ordinary shares of 10p per share. Following this transaction, Tim James is interested in 3,275,000 ordinary shares representing 7.0 per cent of the current issued share capital of the Company.
The acquisition of these shares arises from the put option agreement with Mr Vandyk announced on 8 September 2016.
As a result of the acquisition by Tim James, the first legal mortgage charge in favour of Mr Vandyk over an additional 1,087,500 ordinary shares belonging to Tim James has been released.
Separately, Tim James has also arranged for 1,462,000 shares to be transferred to his wife, Mrs. Serena James. This transfer does not affect Tim James' beneficial interest.
|K&C REIT||[email protected]|
|Tim James, Managing Director||+44 (0) 7768 833 029|
|Stockdale Securities||+44 (0) 20 7601 6115|
|Robert Finlay/Rose Ramsden|
|Yellow Jersey PR||+44 (0) 7768 534 641|
|Philip Ranger/Harriet Jackson|
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 Central London and other key residential areas in the UK.