11 October 2017
K&C REIT plc ("K&C" or "Company") was informed on 10 October 2017 that the pension fund of Mr Michael Wellesley-Wesley ("the Pension Fund"), an existing significant shareholder in the Company, has made a number of previously undisclosed purchases of ordinary shares of 1p each in the Company ("Ordinary Shares") since late 2015. Certain of these purchases should have been disclosed to K&C at the time of dealing, details of which are set out below.
On 25 February 2016, the Pension Fund acquired 250,000 Ordinary Shares, giving Mr Wellesley-Wesley an aggregate holding of 2,750,000 Ordinary Shares, representing 6.28 per cent. of the Company.
On 28 April 2017, the Pension Fund acquired 250,000 Ordinary Shares, giving Mr Wellesley-Wesley an aggregate holding of 3,815,000 Ordinary Shares, representing 7.23 per cent. of the Company.
As at 10 October 2017, Mr Wellesley-Wesley's aggregate holding is 4,140,000 Ordinary Shares representing 7.85 per cent. of the Company.
Dominic White, Chief executive
Tim James, Property director
+44 20 3793 5236
+44 7768 833 029
|Arden Partners plc
|+44 20 7614 5917|
|Yellow Jersey PR
|+44 7747 788 221|
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 London and other key residential areas in the UK.