TIDMRESI

RNS Number : 8286C

Residential Secure Income PLC

13 February 2020

13 February 2020

Residential Secure Income plc

APPOINTMENT OF FINANCE DIRECTOR

Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable shared ownership, retirement and Local Authority housing, is pleased to announce that ReSI Capital Management Limited, ReSI's Fund Manager, has appointed James Sly as Finance Director, with responsibility for financial strategy and operations, including across ReSI.

James' appointment is effective immediately and he will report to Alex Pilato, Group Chief Executive. James will be responsible for all aspects of financial strategy and operations across ReSI, including overseeing ReSI's equity and debt programme, and preparation of ReSI's accounts and reporting.

James was previously Finance Manager at the specialist UK lender United Trust Bank Limited ("UTB"), where he was responsible for all financial reporting processes, alongside managing a number of key external adviser relationships. At UTB he oversaw the financial control team and was responsible for identifying and implementing a number of new firmwide processes and frameworks that delivered significant cost efficiencies.

Prior to joining UTB, James was Group Financial Accountant at Pepkor Europe, the pan European retailer with EUR3bn of annual revenues and a subsidiary of Steinhoff International Holdings. James is a qualified Chartered Accountant, having started his career at PricewaterhouseCoopers after graduating with a BA in Economics and Management from the University of Oxford.

Alex Pilato, Chief Executive of TradeRisks Limited, commented: "James is both highly qualified and ambitious, which makes him an ideal fit to play a key role with ReSI Capital Management. He has a successful track record working alongside senior management and Board members to implement new processes and frameworks that have delivered clear and improved results and has repeatedly demonstrated his ability to lead positive change from inside a business. ReSI Capital Management has a pipeline of significant growth milestones ahead, and we look forward to James being integral in delivering these."

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
  ReSI Capital Management Limited / TradeRisks 
   Limited 
   Jonathan Slater 
   Ben Fry 
   Mark Rogers 
   Alex Pilato 
   James Sly                                      +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 2,680 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 a 19 year track record of executing transactions within the UK social housing sector and, to date, has arranged funding of over GBP11 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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