01 March 2017
K&C REIT Plc is pleased to announce that Ms Qing Xiao has invested £50,000 in the Company by directly subscribing for 476,190 new ordinary shares of £0.01 ("Ordinary Shares") at a price of 10.5 pence per share.
The Board of K&C REIT is pleased to have secured this new investor in the Company and looks forward to working with Ms Xiao in the future.
Ms Xiao commented, "As an investor predominantly focused on acquiring real estate assets in the UK, US and China, I am pleased to have made this initial investment in K&C REIT Plc and look forward to monitoring the company's progress and participating in subsequent equity raising rounds".
Application will be made for admission to trading on AIM ("Admission") of the 476,190 new Ordinary Shares and it is expected that Admission will occur on or around 8 March 2017.
Total voting rights
Following Admission, the Company's enlarged issued share capital will comprise 52,751,813 Ordinary Shares, with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 52,751,813. This figure 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 and Transparency Rules.
For further information, please contact:
|K&C REIT plc||[email protected]|
|Dominic White, Chief executive||+44 20 3793 5236|
|Tim James, Property Director||+44 7768 833 029|
|Stockdale Securities (nominated adviser and joint broker)||+44 20 7601 6100|
|Antonio Bossi / Robert Finlay / El Hanan Lee|
|Peterhouse Corporate Finance Limited (joint broker)||+44 20 7469 0933|
|Lucy Williams / Heena Karani|
|Yellow Jersey PR||+44 7747 788 221|
Notes to editors:
The Group operates in the residential private rented sector (PRS), with an emphasis on Central London. The residential sector has several sub-categories, including PRS, which was K&C's original focus, retirement residential, residential care and social housing. K&C's operations in the market broadened following the acquisition of K&C (Osprey) to include the retirement residential sub-category in London and the southeast of the UK.