REG - Residential Secure - Director/PDMR Shareholding

Kenedix Residential Next InvestmentAnnouncement

18/03/2022 18:15

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RNS Number : 3427F  Residential Secure Income PLC  18 March 2022

18 March 2022

Residential Secure Income plc

Grant of share awards to a PDMR by Gresham House plc

Residential Secure Income plc ("ReSI plc") (LSE: RESI) is managed by ReSI
Capital Management Limited (the "Investment Manager") and the ultimate parent
of the Investment Manager is Gresham House plc (AIM: GHE). Gresham House
Holdings Limited, a wholly owned subsidiary of GHE, has granted an award under
its Housing Long Term Incentive Plan (the "Plan") to Alejandro Pilato, a PDMR
of ReSI plc.  Mr Pilato has been allocated 79.5% of the Plan pool with the
remaining 20.5% of the Plan pool granted to two selected employees of the
Investment Manager.

 

The awards are made further to the acquisition of TradeRisks Limited by the
Company, subject to the achievement of certain performance criteria, as
announced on 5 March 2020.

 

The Plan pool is calculated based on growth and performance targets of GHE's
Housing Division over a three-year performance period commencing 5 March 2020.
In the event the targets are achieved, subject to the terms of the Plan, the
awards shall vest which the Company can either satisfy in cash, or with an
equivalent value of ReSI plc shares already held by GHE and its subsidiaries.

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated

 a)  Name                                                         Alejandro Pilato

 2   Reason for the notification

 a)  Position/status                                              PDMR

 b)  Initial notification/ Amendment                              Initial Notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor

 a)  Name                                                         Residential Secure Income plc

 b)  LEI                                                          213800D24WA531LAR763

 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted

 a)  Description of the financial instrument, type of instrument  Ordinary Shares of 0.01p in Residential Secure Income plc held by Gresham

                                                            House Holdings Limited

     Identification code

                                                                  ISIN: GB00BYSX1508

 b)  Nature of the transaction                                    Award pursuant to the Gresham House plc Housing Long Term Incentive Plan

 c)  Price(s) and volume(s)

Price(s)  Volume(s)
                                                                  Nil       N/A

 

 d)  Aggregated information

     -        Aggregated volume

                                                                  N/A

     -      Price

 e)  Date of the transaction                                      15 March 2022

 f)  Place of the transaction                                     Outside trading venue

 

 

 

d)

Aggregated information

 

-        Aggregated volume

 

-      Price

 

 

 

 

N/A

e)

Date of the transaction

 

15 March 2022

f)

Place of the transaction

 

Outside trading venue

 

 

For further information, please contact:

 

 ReSI Capital Management Limited / TradeRisks Limited  +44 (0) 20 7382 0900

 Ben Fry

 Alex Pilato
 Jefferies International Limited                       +44 (0) 20 7029 8000

 Stuart Klein

 Tom Yeadon

 KL Communications                                     gh@kl-communications.com (mailto:gh@kl-communications.com)

 Charles Gorman                                        +44 (0) 20 3995 6673

 

About Residential Secure Income plc

 

Residential Secure Income plc (LSE: RESI) is a real estate investment trust
(REIT) focused on delivering secure, inflation-linked returns with a focus on
two resident sub-sectors in UK residential - independent retirement rentals
and shared ownership - underpinned by an ageing demographic and untapped and
strong demand for affordable home ownership.

 

ReSI targets a secure, long-dated, inflation-linked dividend of 5.16 pence per
share p.a. (paid quarterly) and a total return in excess of 8.0% per annum.
Including recently committed acquisitions, ReSI's portfolio comprises 3,050
properties, with an (unaudited) IFRS fair value as at 31 December 2021 of
£351m i .

 

ReSI's purpose is to deliver affordable, high quality, safe homes with great
customer service and long-term stability of tenure for residents. We achieve
this through 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 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 19 members and growing,
with an average of 18 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
(http://www.resi-reit.com/) , and further information on Gresham House is
available at www.greshamhouse.com (http://www.greshamhouse.com)

 

 

 i  excluding the finance lease gross up and including £7m of committed
acquisitions

 

 

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