REG - Residential Secure - Fund Management Fee

Residential Secure IncomeAnnouncement

01/07/2022 17:15

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RNS Number : 0950R  Residential Secure Income PLC  01 July 2022

1 July 2022

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 purchased 123,343 Ordinary Shares in the
secondary market (the "Fund Management Ordinary Shares") at an average price
of 102 pence on 1 July 2022.

 

The Fund Management Ordinary Shares are subject to a minimum lock-in period of
12 months from 1 July 2022, being when the Fund Management Ordinary Shares
became due and deliverable.

 

For further information, please contact:

 

 Gresham House Real Estate

 Ben Fry                    +44 (0) 20 7382 0900

 Brandon Holloway

 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

 Millie Steyn

 

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 plc targets a secure, long-dated, inflation-linked dividend of 5.16 pence
per share p.a. i  (paid quarterly) and a total return in excess of 8.0% per
annum. As at 31 March 2022, including committed acquisitions, ReSI plc's
portfolio comprises 3,233 properties, with an (unaudited) IFRS fair value of
£375m ii .

 

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'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 London Stock Exchange quoted 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, with senior members having an average of c.30
years' experience .

 

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)

 

 

 

 

Further information on ReSI is available at www.resi-reit.com
(http://www.resi-reit.com/)

 

Further information on Gresham House is available at www.greshamhouse.com
(http://www.greshamhouse.com)

 

 

 i  The dividend target and total return target are targets only and are not
profit forecasts. There can be no assurance that either target will be met and
they should not be taken as an indication of the Company's future results.

 

 ii  excluding the finance lease gross up and including £25mn of committed
acquisitions

 

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