Residential Secure Income PLC Director/PDMR Shareholding (2761W)

TIDMRESI

RNS Number : 2761W

Residential Secure Income PLC

14 April 2023

14 April 2023

Residential Secure Income plc

PDMR Dealing

Residential Secure Income plc ("ReSI plc") (LSE: RESI), which invests in independent retirement living and shared ownership to deliver secure, inflation-linked returns, is managed by ReSI Capital Management Limited (the "Investment Manager"). The ultimate parent of the Investment Manager is Gresham House plc ("GHE").

On 12 April 2023, GHE awarded Benjamin Fry, a Director of the Investment Manager and a PDMR of ReSI plc, GBP80,000 worth of nil-cost options which can be settled in (a) shares in GHE, (b ) 101,729 ReSI plc ordinary shares, or (c) cash.

The above award will be subject to a three-year vesting period and is subject to the award holder remaining an employee and satisfying the relevant conditions set out in the award documentation.

Following the end of the vesting period and satisfaction of the relevant conditions, the award holder can exercise the options.

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                              Benjamin Fry 
     --------------------------------  --------------------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------------------------- 
 a)   Position/status                   Director of AIFM 
     --------------------------------  --------------------------------------------------- 
 b)   Initial                           Initial notification 
       notification/ 
       Amendment 
     --------------------------------  --------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------------------- 
 a)   Name                              Residential Secure Income plc 
     --------------------------------  --------------------------------------------------- 
 b)   LEI                               213800D24WA531LAR763 
     --------------------------------  --------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for 
       (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------------------------- 
 a)   Description                       Ordinary shares of 1 pence each 
       of the financial 
       instrument, 
       type of 
       instrument 
                                         ISIN GB00BYSX1508 
       Identification 
       code 
     --------------------------------  --------------------------------------------------- 
 b)   Nature of                         Award of nil cost options by an associate of the 
       the transaction                   Investment Manager 
     --------------------------------  --------------------------------------------------- 
 c)   Price(s)                            Price(s)                   Volume(s) 
       and volume(s) 
                                           Nil                        101,729 
     --------------------------------  --------------------------  ----------------------- 
 d)   Aggregated 
       information 
       - Aggregated 
       volume                             N/A 
       - Price 
     --------------------------------  --------------------------------------------------- 
 e)   Date of                           1 2 April 2023 
       the transaction 
     --------------------------------  --------------------------------------------------- 
 f)   Place of                          London Stock Exchange 
       the transaction 
     --------------------------------  --------------------------------------------------- 
 

- ENDS -

For further information, please contact:

 
  ReSI Capital Management Limited / Gresham 
   House Real Estate 
   Ben Fry 
   Brandon Holloway                               [phone] 
  Peel Hunt LLP 
   Luke Simpson 
   Huw Jeremy                                     [phone] 
  KL Communications                             [e-mail] 
   Charles Gorman                                [phone] 
   Charlotte Francis 
   Millie Steyn 
 

About ReSI plc

Residential Secure Income plc ("ReSI plc" LSE: RESI) is a real estate investment trust (REIT) focused on delivering secure, inflation-linked returns with a focus on two resident 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 targets a secure, long-dated, inflation-linked dividend of 5.16 pence per share p.a. [i] (paid quarterly) and a total return in excess of 8.0% per annum. As at 31 December 2022, including committed acquisitions, ReSI plc's portfolio comprises 3,303 properties, with an (unaudited) IFRS fair value of GBP364mn [ii] .

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.

About Gresham House and Gresham House Real Estate

Gresham House is a London Stock Exchange quoted specialist alternative asset manager committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

Gresham House Real Estate has an unparalleled track record in the affordable housing sector over 20 years, with senior members having an average of c.30 years' experience.

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

[i] The dividend target and total return target are targets only and are not profit forecasts. There can be no assurance that either target will be met, and they should not be taken as an indication of the Company's future results.

[ii] Excluding the finance lease gross up and including GBP2mn of committed acquisitions.

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April 14, 2023 05:17 ET (09:17 GMT)