UK PM Theresa May: Will continue to serve as Prime Minister until new leader is elected

The UK PM Theresa May is on the wires now, via Reuters, making a statement following her meeting with the head of the Conservative Party's 1922 Committee, Sir Graham Brady.

Key Headlines:

I've done my best to implement Brexit vote.

I've done everything I can to convince MPs to back my deal.

It is a matter of deep regret that I have not delivered Brexit.

Will step down on June, 7^th.

Will continue to serve as Prime Minister until new leader is elected.

Leadership contest will begin in the following week after her resignation.

Consensus on Brexit can only be reached if all sides are willing to compromise.