REG - Residential Secure - Appointment of Finance Director

Jefferies FinancialAnnouncement

13/02/2020 08:05

RNS Number : 8286C
Residential Secure Income PLC
13 February 2020
 


13 February 2020
 
Residential Secure Income plc
 
APPOINTMENT OF FINANCE DIRECTOR
 
Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable shared ownership, retirement and Local Authority housing, is pleased to announce that ReSI Capital Management Limited, ReSI's Fund Manager, has appointed James Sly as Finance Director, with responsibility for financial strategy and operations, including across ReSI.
 
James' appointment is effective immediately and he will report to Alex Pilato, Group Chief Executive. James will be responsible for all aspects of financial strategy and operations across ReSI, including overseeing ReSI's equity and debt programme, and preparation of ReSI's accounts and reporting.
 
James was previously Finance Manager at the specialist UK lender United Trust Bank Limited ("UTB"), where he was responsible for all financial reporting processes, alongside managing a number of key external adviser relationships. At UTB he oversaw the financial control team and was responsible for identifying and implementing a number of new firmwide processes and frameworks that delivered significant cost efficiencies.
 
Prior to joining UTB, James was Group Financial Accountant at Pepkor Europe, the pan European retailer with €3bn of annual revenues and a subsidiary of Steinhoff International Holdings. James is a qualified Chartered Accountant, having started his career at PricewaterhouseCoopers after graduating with a BA in Economics and Management from the University of Oxford.
 
Alex Pilato, Chief Executive of TradeRisks Limited, commented: "James is both highly qualified and ambitious, which makes him an ideal fit to play a key role with ReSI Capital Management. He has a successful track record working alongside senior management and Board members to implement new processes and frameworks that have delivered clear and improved results and has repeatedly demonstrated his ability to lead positive change from inside a business. ReSI Capital Management has a pipeline of significant growth milestones ahead, and we look forward to James being integral in delivering these."
 
FOR FURTHER INFORMATION, PLEASE CONTACT: 



 ReSI Capital Management Limited / TradeRisks Limited
 Jonathan Slater
 Ben Fry
 Mark Rogers
 Alex Pilato
 James Sly


+44 (0) 20 7382 0900
 
 
 




 
 Jefferies International Limited
 Stuart Klein
 Gary Gould


 
+44 (0) 20 7029 8000




 
 FTI Consulting 
 Richard Sunderland
 Claire Turvey
 Richard Gotla


 
+44 (0) 20 3727 1000
Email: resi@fticonsulting.com













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 committed c. £300 million, assembling a portfolio of 2,680 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.
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 £11 billion in the social housing, care and other specialist residential property sectors.
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.
Further information on ReSI is available at www.resi-reit.com 
 
 




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