TIDMRESI

RNS Number : 1448P

Residential Secure Income PLC

14 October 2021

14 October 2021

Residential Secure Income plc

Satisfaction of the Equity Portion of the Fund Management Fee

Residential Secure Income plc ("ReSI") (LSE: RESI) announces that, in accordance with the terms of the Fund Management Agreement with ReSI Capital Management Limited (the "Fund Manager") pursuant to which 25 per cent of the fund management fee is payable in the form of Ordinary Shares (the "Equity Portion") rather than cash, it has purchased 109,221 Ordinary Shares in the secondary market (the "Fund Management Ordinary Shares") at an average price of 104 pence on 1 October 2021.

The Fund Management Ordinary Shares are subject to a minimum lock-in period of 12 months from 1 October 2021, being when the Fund Management Ordinary Shares became due and deliverable.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
  ReSI Capital Management Limited / Gresham 
   House Housing 
   Ben Fry 
   Alex Pilato                                   +44 (0) 20 7382 0900 
  Jefferies International Limited 
   Stuart Klein 
   Tom Yeadon                                    +44 (0) 20 7029 8000 
 
    KL Communications                              gh@kl-communications.com 
    Charles Gorman                                 +44 (0) 20 3995 6673 
    Will Sanderson 
    Millie Steyn 
 

NOTES:

Residential Secure Income plc (LSE: RESI) is a real estate investment trust (REIT) listed on the premium segment of the Main Market of the London Stock Exchange with the objective of delivering secure inflation linked returns by investing in affordable shared ownership, retirement and Local Authority housing throughout the UK.

ReSI targets a secure, long-dated, inflation-linked dividend of 5.0 pence per share p.a. (paid quarterly) and a total return in excess of 8.0% per annum. Including recent committed acquisitions, ReSI's portfolio comprises 3,059 properties, with an (unaudited) IFRS fair value of GBP348m [i] .

ReSI aims to make a meaningful contribution to alleviating the UK housing shortage by meeting demand from housing developers (Housing Associations, Local Authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial new affordable housing.

ReSI's subsidiary, ReSI Housing Limited, is registered as a for-profit Registered Provider of Social Housing, and so provides a unique proposition to its housing developer partners, being a long term private sector landlord within the social housing regulatory environment. As a Registered Provider, ReSI Housing can acquire affordable housing subject to s106 planning restrictions and housing funded by government grant.

Acquisitions by ReSI are limited to homes with sufficient cashflows, counterparty credit quality and property security to be capable of supporting long -- term investment grade equivalent debt. ReSI does not manage or operate stock and uses experienced and credit-worthy managers.

ReSI is managed by ReSI Capital Management Limited, whose immediate parent company, TradeRisks Limited, has been active within the social housing sector for over 20 years as a funding arranger and advisor and, over the last four years, as an investor through ReSI.

ReSI Capital Management and its parent, TradeRisks, were acquired by Gresham House in March 2020, further increasing the investment expertise available to ReSI. The housing investment team at Gresham House has 15 members and growing, with an average of 20 years' relevant experience, covering fund management, housing investment, social housing management and financial and risk expertise.

Gresham House plc is a London Stock Exchange quoted specialist alternative asset manager committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

Further information on ReSI is available at www.resi-reit.com

Further information on Gresham House is available at www.greshamhouse.com

[i] excluding the finance lease gross up and including committed acquisitions

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCGZMMGKDZGMZM

(END) Dow Jones Newswires

October 14, 2021 11:04 ET (15:04 GMT)

Residential Secure Income (LSE:RESI)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Residential Secure Income.
Residential Secure Income (LSE:RESI)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Residential Secure Income.