Appointment of ReSI Housing Non-Executive Director

RNS Number : 3837U

Residential Secure Income PLC

29 March 2019

 

29 March 2019

Appointment of ReSI Housing Independent Non-Executive Director

Residential Secure Income plc ("ReSI"), which invests in affordable shared ownership, retirement and local authority housing, is pleased to announce that it has appointed Gillian Rowley as an independent non-executive director of ReSI's Registered Provider of Social Housing, ReSI Housing Limited.

Gillian Rowley brings over 30 years of housing and housing finance expertise, with a focus on policy development within the framework of regulatory standards.

Gillian was Head of Private Finance at the former social housing regulator, the Homes & Communities Agency, where for 13 years she was responsible for relationships with lenders, investors, advisers and credit rating agencies operating in the social housing sector.  This overlapped with Gillian serving as the non-executive director for The Housing Finance Corporation from 2006 - 2012 where she was heavily involved in business strategy, financial policy and governance. Gillian has also been an authority on all aspects of social housing finance policy, including advising government departments, leading on areas of regulatory standards and being responsible for social housing sector guidance on treasury management.

Gillian joins existing board members including independent chairman David Orr CBE, until recently the chief executive of the National Housing Federation, as well as Mark Rogers and Pete Redman who together have 85 years of experience in leading social housing organisations.

Alex Pilato, Chief Executive of TradeRisks Group, the parent of ReSI's fund manager, said:  

"Gillian has had an impressive career and is an excellent fit with the current skillset of our Board at ReSI Housing. She will no doubt have a significant contribution to make as we look to continue to take advantage of our position as the first listed investment fund to achieve Registered Provider status in order to bring much needed new affordable homes to market whilst delivering stable and secure income returns for our shareholders. We look forward to working with her."

ENDS

FOR FURTHER INFORMATION, PLEASE CONTACT: 

ReSI Capital Management Limited / TradeRisks Limited Ben Fry Jonathan Slater Mark Rogers Alex Pilato Richard Stubbs	[phone]
Jefferies International Limited Stuart Klein Gary Gould	[phone]
FTI Consulting Richard Sunderland Claire Turvey Richard Gotla	[phone] Email: [e-mail]

NOTES:

About Residential Secure Income plc

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 invests in shared ownership and rental portfolios of homes across residential asset classes that comprise the stock of Housing Associations and Local Authorities throughout the UK. To date it has deployed c. £240 million, comprising a portfolio of 2,509 properties, across a mixture of shared ownership, local authority and retirement housing.

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 £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 accelerate development of 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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