Residential Secure Income PLC Fund Management Fee (8641A)
October 01 2020 - 9:57AM
UK Regulatory
TIDMRESI
RNS Number : 8641A
Residential Secure Income PLC
01 October 2020
01 October 2020
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 today purchased 125,989 Ordinary Shares in the secondary market
(the "Fund Management Ordinary Shares") at an average price of 90.8
pence.
The Fund Management Ordinary Shares are subject to a minimum
lock-in period of 12 months from 1 October 2020, being when the
Fund Management Ordinary Shares became due and deliverable.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ReSI Capital Management Limited / TradeRisks
Limited
Ben Fry
Alex Pilato +44 (0) 20 7382 0900
Jefferies International Limited
Stuart Klein
Gary Gould +44 (0) 20 7029 8000
KL Communications gh@kl-communications.com
Charles Gorman +44 (0) 20 3995 6673
Camilla Esmund
Alex Hogan
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% p.a. and has to date deployed GBP306 million,
assembling a portfolio of 2,724 properties.
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 third-party managers.
ReSI is managed by ReSI Capital Management Limited, a wholly
owned subsidiary of TradeRisks Limited which has a 19-year track
record of executing transactions within the UK social housing
sector and, to date, has arranged funding of over GBP11 billion in
the social housing, care and other specialist residential property
sectors.
TradeRisks Limited and ReSI Capital Management Limited were
acquired on 4 March 2020 by Gresham House plc.
About Gresham House plc
Gresham House is a specialist alternative asset management
group, dedicated to sustainable investments across a range of
strategies, with expertise across forestry, housing,
infrastructure, renewable energy and battery storage, public and
private equity.
Our origins stretch back to 1857, while our focus is on the
future and the long term. Quoted on the London Stock Exchange
(GHE:LN) we actively manage c.GBP3.3bn of assets on behalf of
institutions, family offices, charities and endowments, private
individuals and their advisers. We act responsibly within a culture
of empowerment that encourages individual flair and entrepreneurial
thinking.
As a signatory to the UN-supported Principles for Responsible
Investment (PRI), our vision is to always make a positive social or
environmental impact, while delivering on our commitments to
shareholders, employees and investors.
Further information on ReSI is available at
www.resi-reit.com
Further information on Gresham House is available at
www.greshamhouse.com
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