REG - Residential Secure - Statement regarding Investment Manager

Residential Secure IncomeAnnouncement

20/12/2023 08:30

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RNS Number : 3539X  Residential Secure Income PLC  20 December 2023

20 December 2023

 

Residential Secure Income plc

("ReSI plc" or the "Company")

 

Statement regarding Investment Manager

 

The Board of Residential Secure Income plc notes the announcement from Gresham
House plc ("Gresham House") that the scheme of arrangement, published on 4
August 2023, to implement the acquisition of Gresham House by Seed Bidco
Limited pursuant to Part 26 of the Companies Act 2006 ("Scheme") has become
effective on 19 December 2023.

 

The Scheme implements the terms of the recommended cash offer of Seed Bidco
Limited, a newly incorporated entity formed by funds advised by Searchlight
Capital Partners, L.P. and its affiliates, for the entire issued share capital
of Gresham House (the "Acquisition").

 

The Company's Investment Manager and AIFM is Gresham House Asset Management
Limited (the "Investment Manager"), which is wholly owned by Gresham House.

 

The Board of the Company is not currently expecting any change to the
relationship between the Company and the Investment Manager and has been
informed that the Gresham House leadership team and all key individuals that
currently manage ReSI plc will remain in place.

 

ENDS

 

 

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

Charles
Gorman
gh@kl-communications.com

Henry
Taylor
+44 (0) 20 3995 6699

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 September 2023, ReSI plc's portfolio comprises 3,295 properties, with
an audited IFRS fair value of £345mn1.

 

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)

 

 

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