REG - Residential Secure - Retail Offer

Residential Secure IncomeAnnouncement

02/02/2022 08:05

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RNS Number : 3937A  Residential Secure Income PLC  02 February 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE
OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION
OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF RESIDENTIAL SECURE
INCOME PLC.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, TO US PERSONS, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA,
HONG KONG, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, ANY MEMBER STATE
OF THE EUROPEAN ECONOMIC AREA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO
MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION
(EACH A "RESTRICTED JURISDICTION").

THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION
21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN
APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE
FINANCIAL CONDUCT AUTHORITY (FRN 779021)

2 February 2022

RESIDENTIAL SECURE INCOME PLC

("RESI" or the "Company") (LON: RESI)

Retail Offer

The Board of Directors (the "Board") of Residential Secure Income plc (LON:
RESI), which invests in independent retirement living and shared ownership to
deliver secure, inflation-linked returns, is pleased to announce, an offer
for subscription via PrimaryBid (the "Retail Offer") of new ordinary shares of
£0.01 each in the capital of the Company ("New Ordinary Shares") at an issue
price of 108.5 pence per New Ordinary Share (the "Issue Price"). The Company
is also conducting a placing of New Ordinary Shares at the Issue Price (the
"Placing") as announced earlier today. It is intended that the Placing and
the Retail Offer (together, the "Issue") will result in the Company raising
gross proceeds of up to a maximum of £20 million.

The Retail Offer and the Placing are conditional on the New Ordinary Shares to
be issued pursuant to the Retail Offer and the Placing being admitted to
trading on the Main Market of the London Stock Exchange
("Admission"). Admission is expected to be take place at 8.00 a.m. on 7
February 2022. The Retail Offer will not be completed without the Placing also
being completed.

The net proceeds, together with associated leverage, will be used to finance
up to £39 million of shared ownership transactions which are currently in
legals.

Retail Offer

The Company values its retail investor base and is therefore pleased to
provide private and other investors the opportunity to participate in the
Retail Offer by applying exclusively through the PrimaryBid mobile app
available on the Apple App Store and Google Play. PrimaryBid does not charge
investors any commission for this service.

The Retail Offer, via the PrimaryBid mobile app, is open to individual and
institutional investors and will close at the same time as the Placing.  The
Retail Offer may close early if it is oversubscribed.

The Company reserves the right to scale back any order at its discretion. The
Company and PrimaryBid reserve the right to reject any application for
subscription under the Retail Offer without giving any reason for such
rejection.

No commission is charged to investors on applications to participate in the
Retail Offer made through PrimaryBid.  It is vital to note that once an
application for New Ordinary Shares has been made and accepted via PrimaryBid,
an application cannot be withdrawn.

For further information on PrimaryBid or the procedure for applications under
the Retail Offer, visit www.PrimaryBid.com (http://www.primarybid.com/)  or
email PrimaryBid at enquiries@primarybid.com.

The New Ordinary Shares will be entitled to the next quarterly dividend
declared by the Company for the quarter ending 31 March 2022.  However, they
will not be entitled to the dividend declared on 27 January 2022 in relation
to the quarter ended 31 December 2021.

The New Ordinary Shares will be issued free of all liens, charges and
encumbrances and will, when issued and fully paid, rank pari passu in all
respects with the Company's existing ordinary shares.

 ReSI Capital Management Limited / Gresham House Housing  +44 (0) 20 7382 0900

 Ben Fry / Alex Pilato

 PrimaryBid Limited                                       enquiries@primarybid.com

 Fahim Chowdhury / James Deal

 KL Communications                                        gh@kl-communications.com

 Charles Gorman / Will Sanderson / Millie Steyn           +44 (0) 20 3995 6673

Details of the Retail Offer

The Company highly values its retail investor base which has supported the
Company alongside institutional investors over several years. Given the
longstanding support of retail shareholders, the Company believes that it is
appropriate to provide retail and other interested investors the opportunity
to participate in the Retail Offer. The Company is therefore making the Retail
Offer available exclusively through the PrimaryBid mobile app.

The Retail Offer is offered under the exemptions against the need for a
prospectus allowed under the Financial Conduct Authority's prospectus rules.
As such, there is no need for publication of a prospectus pursuant to the
prospectus rules, or for approval of the same by the Financial Conduct
Authority in its capacity as the UK Listing Authority. The Retail Offer is
only being made in the UK and not being made into any Restricted Jurisdiction
or any other jurisdiction where it would be unlawful to do so.

There is a minimum subscription of £250 per investor under the terms of the
Retail Offer which is open to existing shareholders and other investors
subscribing via the PrimaryBid mobile app.

For further details please refer to the PrimaryBid website
at www.PrimaryBid.com (http://www.primarybid.com/) . The terms and conditions
on which the Retail Offer is made, including the procedure for application and
payment for New Ordinary Shares, is available to all persons who register with
PrimaryBid.

Investors should make their own investigations into the merits of an
investment in the Company. Nothing in this announcement amounts to a
recommendation to invest in the Company or amounts to investment, taxation or
legal advice.

It should be noted that a subscription for New Ordinary Shares and investment
in the Company carries a number of risks. Investors should consider the risk
factors set out on www.PrimaryBid.com before making a decision to subscribe
for New Ordinary Shares. Investors should take independent advice from a
person experienced in advising on investment in securities such as the New
Ordinary Shares if they are in any doubt.

END

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