IN BRIEF: KCR Residential calls meeting requisitioned to oust board

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KCR Residential REIT PLC - Surrey, England-based real estate investment trust focused on rented residential property - Calls general meeting for July 14 in response to a requestion received earlier this month. The requisition is from a consortium of KCR Residential shareholders who between them hold more than 20% of company shares. The consortium proposes to remove the entire board of directors, including Chair James Thornton and Chief Executive Officer Russell Naylor, replace them with new directors, and have the new board to carry out a strategic review. KCR Residential urges shareholders to vote against the proposals and notes that 55% shareholder Torchlight Fund LP also is opposed.

Current stock price: 12.00 pence, up 4.4% in London on Thursday

12-month change: up 41%; up 58% in past month

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