Residential Secure Income PLC Appointment of non-executive director (8602A)
14 September 2018 - 11:08PM
UK Regulatory
TIDMRESI
RNS Number : 8602A
Residential Secure Income PLC
14 September 2018
14 September 2018
Residential Secure Income plc
Appointment of non-executive director
Residential Secure Income plc ("ReSI" or the "Company") (LSE:
RESI), which invests in residential asset classes that comprise the
stock of UK social housing providers, is pleased to announce the
appointment of Mike Emmerich as a non-executive director of the
Company, with effect from 13 September 2018.
Mike brings considerable experience in urban development to the
Board, with over 20 years of experience in delivering strategies
for planning, housing, environment and innovation. As the Founding
Director of Metro Dynamics, a specialized consultancy for city
authorities, Mike plays a central role on many major city projects
including the devolution deals in the West Midlands and North East
which give more local responsibility for housing and
infrastructure. He also provides support for the Metro Mayor in
Liverpool and advises the Cambridge and Peterborough Independent
Economic Review.
Prior to setting up Metro Dynamics in 2015, Mike was the Chief
Executive of New Economy Manchester which delivers policy, strategy
and research for Greater Manchester. Working with local authorities
and private and public sector partners, Mike led New Economy in
aiming to understand, influence, and innovate, creating a better
economy for the conurbation. In his nine years in this role, Mike
played a pivotal role in the Manchester devolution deals.
Mike's other previous roles include Senior Policy Adviser on
social and economic development in the Prime Minister's Policy Unit
and Policy Adviser to HM Treasury.
Rob Whiteman, Non-executive Chairman of ReSI, commented: "Mike
joins ReSI at an exciting time for the Company as we have now
invested GBP215 million of capital on assembling a high quality
portfolio which comprises 2,414 residential units, delivering value
and income return for our shareholders. Mike's experience and
skills are highly relevant to developing new investment routes for
our business and we look forward to the contribution that he will
make as a member of the Board, as we continue to drive our
strategy."
There are no other matters to disclose in respect of Mike
Emmerich pursuant to paragraph 9.6.13R of the UKLA's Listing
Rules.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ReSI Capital Management Limited / TradeRisks
Limited
Ben Fry
Jonathan Slater
Mark Rogers
Alex Pilato
Richard Stubbs +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 listed on the
premium segment of the Official List of the UK Listing Authority
and was admitted to trading on the Main Market of the London Stock
Exchange in July 2017.
ReSI has been established to invest in portfolios of Homes
across residential asset classes that comprise the stock of Housing
Associations and Local Authorities, comprising Shared Ownership
Homes and Rental Homes (being Market Rental Homes, Functional Homes
and Sub-Market Rental Homes) throughout the UK. To date it has
deployed c. GBP168 million, acquiring a portfolio of 1,928
properties, comprising a mixture of local authority and retirement
housing.
ReSI is managed by ReSI Capital Management Limited, a wholly
owned subsidiary of TradeRisks Limited which has a 17 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.
ReSI seeks to deliver secure, long-dated, inflation-linked
income returns through investment in UK social housing. It aims to
meet demand from Housing Associations and Local Authorities for
alternative equity-like financing sources that allows them to
recycle capital back into socially and economically beneficial new
housing, making a meaningful contribution to the UK housing
shortage.
Homes acquired by ReSI will predominantly be on a freehold or
long leasehold basis (typically 99 years or more to maturity) and
benefit from long term (typically 20 years plus) inflation-adjusted
cash flows. Acquisitions by ReSI will be limited to Homes with
sufficient cashflows, counterparty credit quality and property
security that allow the Fund Manager to arrange long-term
investment grade equivalent debt.
Further information on ReSI is available at
www.resi-reit.com
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END
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