Business
Update on Financing
Update on Financing.
About this update from Kcr Residential Reit Plc
[{"type":"text","content":"\n \nRNS Number : 4579B KCR Residential REIT PLC 07 June 2019 \n\n7 June 2019\n\nKCR Residential REIT plc\n\n(\"KCR\" or \"the Company\")\n\nFinancing\n\nFurther to the announcement of 1 April 2019, KCR Residential REIT plc, the residential REIT group, announces that Oliver Vaughan, a non-executive director, has extended the term of his unsecured interest-free working capital loan of £150,000 to the Company. The loan is now repayable on 30 June 2019. There is no right of conversion into equity. A fee of £10,000 is payable in relation to the extension.\n\nRelated Party Transaction\n\nThe loan from Oliver Vaughan is considered a related-party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The directors (other than Oliver Vaughan) consider, having consulted with Arden Partners, the Company's nominated adviser, that the terms of the loan extension and fee are fair and reasonable in so far as KCR's shareholders are concerned.\n\nMarket Abuse Regulation (MAR) Disclosure\n\nThe information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n\nFor further information, please contact:\n\nKCR Residential REIT plc\[email protected]\n\nDominic White, Chief executive\n+44 20 3793 5236\n\nArden Partners plc (Nominated adviser and broker)\nTom Price / Benjamin Cryer (Corporate Finance)\nAimee Kerslake (Sales)\n+44 20 7614 5900\n\n\nNotes to editors:\n\nKCR's objective is to build a substantial low-to-mid-priced residential property portfolio that generates both secure income flow and increasing net asset value for shareholders. KCR acquires blocks of studio, one-and two-bed apartments that are close to transport links, shopping and leisure.\n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END MSCEAAKKEEPNEAF\n ","length":3107,"tagN...