Business
First Issue of Restricted Preference Shares
First Issue of Restricted Preference Shares.
About this update from Kcr Residential Reit Plc
[{"type":"text","content":"\n \nRNS Number : 7253X K&C REIT PLC 24 February 2017 \n\nK&C REIT plc\n(\"K&C REIT\" or the \"Company\")\nAllotment of Restricted Preference Shares and cancellation of Executive Option Arrangements\nK&C REIT plc, the residential REIT group, announces that, following the passing of the resolutions at the Company's general meeting on 20 February 2017, the directors on 22 February 2017 approved the allotment of Restricted Preference Shares, fully paid, to the following directors and entities (which correspond to the amounts as set out in the circular posted to shareholders on 27 January 2017 (the \"Circular\") for those directors and entities) \n\n\n\n\nName\n\n\nRestricted Preference Shares\nNo. allotted\n\n\nAmount subscribed\n£\n\n\n\n\nWhite Amba Limited, a company controlled by Dominic White\n\n\n5,000,000\n\n\n50,000\n\n\n\n\nJames Cane\n\n\n300,000\n\n\n3,000\n\n\n\n\nTimothy Oakley\n\n\n3,000,000\n\n\n30,000\n\n\n\n\nOliver Vaughan\n\n\n8,100,000\n\n\n81,000\n\n\n\n\nTotal\n\n\n16,400,000\n\n\n£164,000\n\n\n\n\nFollowing the allotment of such Restricted Preference Shares, the interests of Dominic White, James Cane, Timothy Oakley and Oliver Vaughan in shares in the Company will be as follows:\n\n\n\n\nName of Director\n\n\nNumber of Ordinary Shares held\n\n\n% of issued voting share capital\n\n\nNumber of warrants held\n\n\nNumber of Restricted Preference Shares held\n\n\n\n\nDominic White (1)\n\n\nNil\n\n\nNil\n\n\nNil\n\n\n5,000,000\n\n\n\n\nJames Cane\n\n\n10,000\n\n\n0.02%\n\n\n10,000\n\n\n300,000\n\n\n\n\nTimothy Oakley\n\n\n350,000 \n\n\n0.75%\n\n\n50,000\n\n\n3,000,000\n\n\n\n\nOliver Vaughan (2)\n\n\n675,000\n\n\n1.44%\n\n\n175,000\n\n\n8,100,000\n\n\n\n\nNotes:\n(1) The Restricted Preference Shares are held by White Amba Limited, a company controlled by Dominic White.\n(2) Includes 665,000 ordinary shares and 165,000 warrants held by Grosmont Investments Limited, a company controlled by Oliver Vaughan. Mr Vaughan's Restricted Preference Shares are held in his own name.\nFurther allotments to other executives, also in the amounts set out in the Circular, are expected to be made after the announcement of the interim results of the Group at the end of March 2017.\nThe Restricted Preference Shares, their terms and the rights attaching to...