The Rt Hon Baroness Dean of Thornton-le-Fylde

RNS Number : 7659H

Residential Secure Income PLC

15 March 2018

 

15 March 2018

Residential Secure Income plc (the "Company")

The Rt Hon Baroness Dean of Thornton-le-Fylde

It is with profound sadness that the Board of Residential Secure Income plc announces that its Non-Executive Chairman, The Rt Hon Baroness Dean of Thornton-le-Fylde, died suddenly on 13 March 2018.

Robert Whiteman, a non-executive director of the Company, has agreed to assume the role of acting Non-Executive Chairman with immediate effect.

Mr Whiteman said: "We are all shocked by this tragic news and our thoughts are with Brenda's family. It was a great privilege to know her personally and to work alongside her and she will be very much missed."

Mr Whiteman will step down as Chairman of the Audit Committee and the role will be assumed by Robert Gray, a non-executive director of the Company. 

FOR FURTHER INFORMATION, PLEASE CONTACT: 

ReSI Capital Management Limited Jonathan Slater Ben Fry Alex Pilato	[phone]
Jefferies International Limited Stuart Klein Gary Gould	[phone]

FTI Consulting                                                                                                    [phone]

Richard Sunderland                                                                                             Email: [e-mail]

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. 

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 £10 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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