The residential REIT group faces a shareholder revolt, with a requisitioned general meeting called to remove the current CEO, Chairman, and other directors, and appoint new board members.
The residential REIT group has refinanced its debt facilities, securing new Sharia-compliant financing from Al Rayan Bank to replace its previous Hodge Bank facilities.
The property investment firm reported a profit turnaround and improved operating cash flow, but faces ongoing challenges with minimal revenue growth, increased finance costs, and a difficult operating environment.
Routine website access restoration for small-cap property investment firm
KCR Residential REIT plc is sending notice of its annual general meeting (AGM) to shareholders.
The Company acknowledges the need for funding and believes it can access further funding. Risks associated with financial instruments and property valuations are mitigated. Directors prioritize promoting the success of the Company and considering stakeholders.