Residential Secure Income PLC Fund Management Fee (7876Z)
14 Gennaio 2020 - 5:05PM
UK Regulatory
TIDMRESI
RNS Number : 7876Z
Residential Secure Income PLC
14 January 2020
14 January 2020
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 today purchased 116,600 Ordinary Shares in the secondary market
(the "Fund Management Ordinary Shares") at an average price of 99.0
pence.
The Fund Management Ordinary Shares are subject to a minimum
lock-in period of 12 months from 1 January 2020, being when the
Fund Management Ordinary Shares became due and deliverable.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ReSI Capital Management Limited / TradeRisks
Limited
Ben Fry
Alex Pilato
Mark Rogers
Jonathan Slater +44 (0) 20 7382 0900
Jefferies International Limited
Stuart Klein
Gary Gould +44 (0) 20 7029 8000
FTI Consulting +44 (0) 20 3727 1000
Richard Sunderland Email: resi@fticonsulting.com
Claire Turvey
Richard Gotla
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 targets a secure, long-dated, inflation-linked dividend of
5.0 pence per share p.a. (paid quarterly) and a total return in
excess of 8.0% p.a. and has to date committed c. GBP300 million,
assembling a portfolio of 2,678 properties.
ReSI aims to make a meaningful contribution to alleviating the
UK housing shortage by 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 new 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.
ReSI is managed by ReSI Capital Management Limited, a
wholly-owned subsidiary of TradeRisks Limited which has an 18 year
track record of executing transactions within the UK social housing
sector and, to date, has arranged funding of over GBP10 billion in
the social housing, care and other specialist residential property
sectors.
Acquisitions by ReSI are limited to homes with sufficient
cashflows, counterparty credit quality and property security to be
capable of supporting long--term investment grade equivalent
debt.
ReSI does not manage or operate stock and uses experienced and
credit-worthy third party managers.
Further information on ReSI is available at
www.resi-reit.com
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END
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