K&C REIT PLC Correction re Grants to Former Chief Executive (8157D)
July 11 2016 - 6:00AM
UK Regulatory
TIDMKCR
RNS Number : 8157D
K&C REIT PLC
11 July 2016
11 July 2016
K&C REIT plc
("K&C" or the "Company")
Correcting Announcement
The announcement released earlier this morning contained an
error. The exercise price of the options granted to the former
chief executive is 10p per share, not 1p per share as previously
stated. The text of the corrected announcement is set out
below.
Grant of Options and Conditional Payment to former Chief
Executive
K&C REIT plc, the residential real estate investment trust
group, announces that the Board has agreed to grant options over
ordinary shares of 1p each, as detailed below, to George Rolls, the
former non-executive director and then chief executive who left the
Board in December 2015.
The Board has also agreed to make a payment of GBP25,000 to
George Rolls, conditional on a further fundraising being completed
by the Company.
These grants are in recognition of the significant contribution
that George Rolls, whilst unremunerated, made to ensuring that
K&C REIT successfully floated on AIM in July 2015.
Former Director Number of Options Total Number of
Granted Options Held
----------------- ------------------ ----------------
George Rolls 460,000 460,000
----------------- ------------------ ----------------
The options have an exercise price of 10p per share and they can
be exercised at any time within a five-year period commencing from
11 July 2016.
Contacts:
K&C REIT info@kandc-reit.co.uk
Tim James, Managing Director +44 (0) 7768 833
029
www.kandc-reit.co.uk
Stockdale Securities
Robert Finlay/Rose Ramsden +44 (0) 20 7601 6115
Yellow Jersey PR
Philip Ranger/Harriet Jackson +44 (0) 7768 534 641
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGURAMUPQUBG
(END) Dow Jones Newswires
July 11, 2016 06:00 ET (10:00 GMT)
Kcr Residential Reit (LSE:KCR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kcr Residential Reit (LSE:KCR)
Historical Stock Chart
From Apr 2023 to Apr 2024