REG - Residential Secure - Director/PDMR Shareholding

Residential Secure IncomeAnnouncement

15/12/2023 14:00

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RNS Number : 0293X  Residential Secure Income PLC  15 December 2023

15 December 2023

 

Residential Secure Income plc

 

PDMR Dealing

 

Residential Secure Income plc ("ReSI plc") (LSE: RESI), which invests in
independent retirement living and shared ownership to deliver secure,
inflation-linked returns, is managed by Gresham House Asset Management Limited
(the "Investment Manager"). The ultimate parent of the Investment Manager is
Gresham House plc ("GHE").

 

Further to the announcement dated 14 April 2023, on 12 April 2023, GHE awarded
Mr Benjamin Fry, Managing Director (Housing) at the Investment Manager and a
PDMR of ReSI plc, a nil cost option to acquire £80,000 worth of GHE shares
(the "Award") which could be settled in: (a) shares in GHE, (b) 101,729 ReSI
plc ordinary shares (gross), or (c) cash.

 

Immediately following the sanction of the scheme of arrangement set out within
the circular published on 4 August 2023 to implement the acquisition of GHE by
Seed Bidco Limited pursuant to Part 26 of the Companies Act 2006 and in
accordance with the Award terms, the Award vested in full and Mr Fry exercised
the Award on 13 December 2023. GHE determined that the Award was to be settled
in 101,729 ReSI plc ordinary shares plus an additional 4,132 ReSI plc ordinary
shares added to the Award in accordance with its terms to represent the value
of dividends that were paid during the vesting period of the Award, calculated
assuming a reinvestment of dividends. On 14 December 2023, following the
withholding of 49,755 ReSI plc ordinary shares to cover applicable taxes,
Gresham House Holdings Limited instructed the transfer of 56,106 ReSI plc
ordinary shares to Mr Fry in full and final satisfaction of the Award.

 

 

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

 a)  Name                                                         Benjamin Fry

 2   Reason for the notification

 a)  Position/status                                              Managing Director (Housing), Gresham House Asset Management Limited

 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 1 pence each

     Identification code

                                                                  ISIN GB00BYSX1508
 b)  Nature of the transaction                                    Acquisition of shares following exercise of nil cost option granted by an

                                                            associate of the Investment Manager

 c)  Price(s) and volume(s)                                       Price(s)                                  Volume(s)

                                                                  Nil                                        105,861
 d)  Aggregated information                                       Acquisition of 105,861 ReSI plc ordinary shares following exercise of nil cost

                                                            option.
     -Aggregated volume

     -Price

                                                            Note that 49,755 ReSI plc ordinary shares were withheld to meet tax
                                                                  liabilities, resulting in Benjamin Fry receiving 56,106 ReSI plc ordinary
                                                                  shares.

 e)  Date of the transaction                                      14 December 2023

 f)  Place of the transaction                                     London Stock Exchange

 

- ENDS -

 

 

For further information, please contact:

 

 Gresham House Asset Management Limited / Gresham House Real Estate

 Ben Fry                                                             +44 (0) 20 7382 0900

 Sandeep Patel

 Peel Hunt LLP

 Luke Simpson                                                        +44 (0) 20 7418 8900

 Huw Jeremy

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

 Charles Gorman                                                      +44 (0) 20 3995 6673

 Charlotte Francis

 

About ReSI plc

 

Residential Secure Income plc ("ReSI 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 homeownership.

 

As at 30 September 2023 ReSI plc's portfolio comprises 3,295 properties, with
an audited IFRS fair value of £345mn.(1)

 

ReSI plc'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 plc'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.

 

About Gresham House and Gresham House Real Estate

 

Gresham House is a specialist alternative asset manager committed to operating
responsibly and sustainably, taking the long view in delivering sustainable
investment solutions.

 

Gresham House Real Estate has an unparalleled track record in the affordable
housing sector over 20 years. Gresham House Real Estate offers long-term
equity investments into UK housing, through listed and unlisted housing
investment vehicles, each focused on addressing different areas of the
affordable housing problem. Each fund aims to deliver stable and secure
inflation-linked returns whilst providing social and environmental benefits to
its residents, the local community, and the wider economy.

 

Further information on ReSI plc 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/)

 

1. Excluding the finance lease gross up

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