REG - KCR Residential REIT - Requisition of General Meeting

KCR Residential ReitAnnouncement

18/06/2025 10:45

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RNS Number : 3906N  KCR Residential REIT PLC  18 June 2025

18 June 2025

KCR Residential REIT plc

("KCR" or the "Company")

Requisition of General Meeting

KCR Residential REIT plc, the residential REIT group, announces that on 13
June 2025, the board of KCR ("Board") received a letter dated 12 June 2025
from a consortium of KCR shareholders requisitioning a general meeting ("GM")
of the Company's shareholders (the "Requisition"). The letter states that the
consortium of shareholders requisitioning the GM hold, between them, in excess
of 20 per cent. of the issued share capital of KCR.

The letter requests that the Company convenes a general meeting of the
Company's shareholders pursuant to section 303 of the Companies Act 2006 (the
"Act") to consider resolutions to reconstitute the Board by removing the
current directors from office (including the 'Representative Directors' as
defined in the Company's articles of association appointed by Torchlight Fund
LP, the Company's majority shareholder), the appointment of replacement
directors (executive and non-executive) and that the newly constituted board
of the Company initiates a strategic review for further shareholder approval.

The Board is satisfied that the Requisition has been duly made and,
accordingly, will, by no later than 4 July 2025, post a circular to
shareholders including a notice convening the GM in accordance with section
304 of the Act.

Shareholders should be aware that Torchlight Fund LP, which holds 23,100,000
Ordinary Shares in KCR, representing approximately 55.44 per cent of the
issued share capital of KCR, has notified the Company that it intends to
exercise its rights to vote against all of the resolutions to be proposed at
the GM.  As such, all such resolutions will fail.

Further announcements will be made in due course.

The information contained within this announcement is deemed by the company to
constitute Inside Information as stipulated under the Market Abuse Regulation
(E.U.) No. 596/2014, as it forms part of U.K. domestic law under the European
Union (Withdrawal) Act 2018, as amended. Upon the publication of this
announcement via a regulatory information service, this information is
considered to be in the public domain.

The Directors of the Company are responsible for the content of this
announcement.

 

For further information please contact:

              KCR Residential REIT plc                          info@kcrreit.com (mailto:info@kcrreit.com)

              Russell Naylor, Executive Director                Tel: +44 (0)7749 963 033

              Cairn Financial Advisers LLP (Nomad)              Tel: +44 (0)20 7213 0880

 Emily Staples / Louise O'Driscoll

               Zeus Capital Limited (Broker)                    Tel: +44 (0)20 7614 5000

               Louisa Waddell

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

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