REG - KCR Residential REIT - Result of General Meeting

KCR Residential ReitAnnouncement

14/07/2025 13:45

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RNS Number : 9753Q  KCR Residential REIT PLC  14 July 2025

14 July 2025

KCR Residential REIT plc

("KCR" or the "Company")

Result of General Meeting

KCR, the residential REIT group, announces that, at the requisitioned General
Meeting of the Company held today, all resolutions put to the meeting were
defeated in line with the Board's unanimous recommendation for shareholders to
vote AGAINST all of the resolutions being proposed.

As announced on 18 June 2025, 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, had notified the Company that it intended to
exercise its rights to vote against all of the resolutions to be proposed at
the General Meeting. Torchlight Fund LLP exercised its rights in this respect
as intended.

 

The results of the poll vote are set out below.

 

                     Resolutions                                                                     For                     Percent. of votes in Favour  Against        Percent. of votes Against  Withheld  Total of issued share capital voted  Percent. of issued share capital voted

 Resolution number
 1                   THAT Mr. Russell Naylor be removed as Chief Executive Officer and as a                 4,432,171        15.72%                         23,767,521   84.28%                     0           28,199,692                         67.67%
                     Director of the Company
 2                   THAT Mr. James Thornton be removed as Chairman of the Board and as a Director          4,409,535        15.64%                         23,790,157   84.36%                     0           28,199,692                         67.67%
                     of the Company
 3                   THAT Mr Richard Boon be removed as a Non-Executive Director of the Company             4,432,171        15.72%                         23,767,521   84.28%                     0           28,199,692                         67.67%
 4                   THAT Mr. Gordon Robinson be removed as a Non-Executive Director of the Company         4,432,171        15.72%                         23,767,521   84.28%                     0           28,199,692                         67.67%
 5                   THAT Mr Charles Vaughan be appointed as Chairman of the Board of the Company           4,429,999        15.71%                         23,769,693   84.29%                     0           28,199,692                         67.67%
                     and a Director of the Company
 6                   THAT Mr Peter Dykes be appointed as Chief Executive Officer and a Director of          4,407,363        15.63%                         23,792,329   84.37%                     0           28,199,692                         67.67%
                     the Company
 7                   THAT Mr Timothy James be appointed as a Non-Executive Director of the Company          4,429,999        15.71%                         23,769,693   84.29%                     0           28,199,692                         67.67%
 8                   THAT Mr Nishith Malde be appointed as a Non-Executive Director of the Company          4,429,999        15.71%                         23,769,693   84.29%                     0           28,199,692                         67.67%
 9                   THAT the newly constituted Board of the Company initiates a full strategic             4,432,171        15.72%                         23,767,521   84.28%                     0            28,199,692                        67.67%
                     review of its operations, financing, asset base and future direction with a
                     view to setting out a clear and implementable strategy for shareholders to
                     approve

Notes:

A vote "withheld" is not a vote in law and has not been counted as a vote
"for" or "against" a resolution.

All resolutions were proposed as ordinary resolutions.

The number of ordinary shares in issue at the date of this announcement is
41,669,631, of which no ordinary shares are held in treasury.

The directors of the Company take responsibility for 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

 

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