REG - Residential Secure - Fund Management Fee

Residential Secure IncomeAnnouncement

03/10/2023 14:30

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RNS Number : 5620O  Residential Secure Income PLC  03 October 2023

3 October 2023

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 Gresham House
Asset 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 157,271 Ordinary Shares in the
secondary market (the "Fund Management Ordinary Shares") at an average price
of 60 pence on 2 October 2023.

 

The Fund Management Ordinary Shares are subject to a minimum lock-in period of
12 months from 1 October 2023, 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

 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 home ownership.

 

As at 30 June 2023 ReSI plc's portfolio comprises 3,298 properties, with an
(unaudited) IFRS fair value of £357mn i  (#_edn1) .

 

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 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 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)

 

 i  (#_ednref1) Excluding the finance lease gross up.

 

 

 

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