Residential Secure Income PLC Appointment of Finance Director (8286C)
13 Febbraio 2020 - 08:00AM
UK Regulatory
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
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END
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