Residential Secure Income PLC The Rt Hon Baroness Dean of Thornton-le-Fylde (7659H)
March 15 2018 - 2:01AM
UK Regulatory
TIDMRESI
RNS Number : 7659H
Residential Secure Income PLC
15 March 2018
15 March 2018
Residential Secure Income plc (the "Company")
The Rt Hon Baroness Dean of Thornton-le-Fylde
It is with profound sadness that the Board of Residential Secure
Income plc announces that its Non-Executive Chairman, The Rt Hon
Baroness Dean of Thornton-le-Fylde, died suddenly on 13 March
2018.
Robert Whiteman, a non-executive director of the Company, has
agreed to assume the role of acting Non-Executive Chairman with
immediate effect.
Mr Whiteman said: "We are all shocked by this tragic news and
our thoughts are with Brenda's family. It was a great privilege to
know her personally and to work alongside her and she will be very
much missed."
Mr Whiteman will step down as Chairman of the Audit Committee
and the role will be assumed by Robert Gray, a non-executive
director of the Company.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ReSI Capital Management Limited
Jonathan Slater
Ben Fry +44 (0) 20 7382
Alex Pilato 0900
Jefferies International Limited
Stuart Klein +44 (0) 20 7029
Gary Gould 8000
FTI Consulting +44 (0) 20 3737 1000
Richard Sunderland Email: resi@fticonsulting.com
Claire Turvey
Richard Gotla
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 17 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.
Further information on ReSI is available at
www.resi-reit.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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