8 January 2025
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 Gresham House Asset 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 purchased 136,008 Ordinary Shares in the
secondary market (the "Fund
Management Ordinary Shares") at an average price of 59.75
pence on 7 January 2025.
The Fund Management Ordinary Shares
are subject to a minimum lock-in period of 12 months from 1 January
2025, being when the Fund Management
Ordinary Shares became due and deliverable.
For
further information, please contact:
|
Gresham House Real Estate
Ben Fry
Sandeep Patel
|
+44 (0) 20 7382 0900
|
|
Peel Hunt LLP
(Broker & Financial
Advisor)
Luke Simpson
Huw Jeremy
|
+44 (0) 20 7418 8900
|
|
KL Communications
Charles Gorman
Charlotte Francis
|
gh@kl-communications.com
+44 (0) 20 3882 6644
|
About ReSI plc
ReSI plc (LSE: RESI) is a real
estate investment trust (REIT) focused on delivering secure,
inflation-linked returns with a focus on two residential
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.
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.
In December 2024, shareholders voted
for and accepted a new investment objective which seeks to realise
all the existing assets in the Company's portfolio in an orderly
manner. The Company will pursue its investment objective by
effecting an orderly realisation of its assets while seeking to
balance maximising returns for Shareholders against timing of
disposals whilst ensuring the interests of
residents are protected. Capital expenditure will
be permitted where it is deemed necessary or desirable in
connection to the realisation, primarily where such expenditure is
necessary to protect or enhance an asset's realisable value,
to comply with statutory or regulatory obligations, to protect
other stakeholders, to comply with the terms of any funding
arrangement or to facilitate orderly disposals.
About Gresham House and Gresham House Real
Estate
Gresham House is an alternative
asset manager committed to operating responsibly and sustainably,
taking the long view in delivering sustainable investment
solutions.
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,
and further information on Gresham House is available
at www.greshamhouse.com
