Residential Secure Income PLC Key Information Document (1159A)
December 21 2017 - 8:14AM
UK Regulatory
TIDMRESI
RNS Number : 1159A
Residential Secure Income PLC
21 December 2017
21 December 2017
Residential Secure Income plc
("ReSI" or the "Company")
LEI: 213800D24WA531LAR763
Key Information Document
Residential Secure Income plc has released a Key Information
Document ("KID") in compliance with the Packaged Retail and
Insurance-based Investment Products ("PRIIPs") Regulation that
comes into effect on 2 January 2018.
The KID is available on the Company's website in the Investor
section under Company Documents at
https://www.resi-reit.com/company-documents
-ends-
Notes:
Residential Secure Income plc (LSE: RESI) is listed on the
premium segment of the Official List of the UK Listing Authority
and was admitted to trading on the Main Market of the London Stock
Exchange in July 2017.
ReSI has been established to invest in portfolios of Homes
across residential asset classes that comprise the stock of Housing
Associations and Local Authorities, comprising Shared Ownership
Homes and Rental Homes (being Market Rental Homes, Functional Homes
and Sub-Market Rental Homes) throughout the UK.
ReSI is managed by ReSI Capital Management Limited, a wholly
owned subsidiary of TradeRisks Limited which has a 16 year track
record of executing transactions within the UK social housing
sector and, to date, has arranged funding of over GBP10 billion in
the social housing, care and other specialist residential property
sectors.
ReSI seeks to deliver secure, long-dated, inflation-linked
income returns through investment in UK social housing. It aims to
meet demand from Housing Associations and Local Authorities for
alternative equity-like financing sources that allows them to
recycle capital back into socially and economically beneficial new
housing, making a meaningful contribution to the UK housing
shortage.
Homes acquired by ReSI will predominantly be on a freehold or
long leasehold basis (typically 99 years or more to maturity) and
benefit from long term (typically 20 years plus) inflation-adjusted
cash flows. Acquisitions by ReSI will be limited to Homes with
sufficient cashflows, counterparty credit quality and property
security that allow the Fund Manager to arrange long-term
investment grade equivalent debt.
ReSI is targeting, on a fully invested and geared basis, a
dividend yield of 5% per annum based on the issue price of 100
pence per Ordinary Share, which ReSI expects to increase broadly in
line with inflation, and a total return in excess of 8% per
annum(1) .
1. This is a target only and not a profit forecast and there can
be no assurance that it will be met.
Further information on ReSI is available at
www.resi-reit.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
ReSI Capital Management Limited
Jonathan Slater, Chief Executive
Ken Youngman, Chief Financial
Officer
Ben Fry, Investment Manager +44 (0) 20 7382
Alex Pilato, Director 0900
Jefferies International Limited
Stuart Klein +44 (0) 20 7029
Gary Gould 8000
FTI Consulting +44 (0) 20 3737
Richard Sunderland 1000
Claire Turvey
Methuselah Tanyanyiwa Email: resi@fticonsulting.com
This information is provided by RNS
The company news service from the London Stock Exchange
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