Share Name Share Symbol Market Type Share ISIN Share Description
Residential Secure Income Plc LSE:RESI London Ordinary Share GB00BYSX1508 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 99.80 98.00 99.80 99.80 99.80 99.80 11,263 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 21.6 13.2 7.7 13.0 180

Residential Secure Income PLC Fund Management Fee

14/01/2020 4:05pm

UK Regulatory (RNS & others)


Residential Secure Income (LSE:RESI)
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2 Months : From Dec 2019 to Feb 2020

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TIDMRESI

RNS Number : 7876Z

Residential Secure Income PLC

14 January 2020

14 January 2020

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 ReSI Capital 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 today purchased 116,600 Ordinary Shares in the secondary market (the "Fund Management Ordinary Shares") at an average price of 99.0 pence.

The Fund Management Ordinary Shares are subject to a minimum lock-in period of 12 months from 1 January 2020, being when the Fund Management Ordinary Shares became due and deliverable.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
  ReSI Capital Management Limited / TradeRisks 
   Limited 
   Ben Fry 
   Alex Pilato 
   Mark Rogers 
   Jonathan Slater                                  +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 2,678 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 an 18 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.

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.

END

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January 14, 2020 11:05 ET (16:05 GMT)

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