Director/PDMR Shareholding

RNS Number : 1065J

Residential Secure Income PLC

08 December 2022

 

08 December 2022

Residential Secure Income plc

Share Sale

Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in independent retirement living and shared ownership to deliver secure, inflation-linked returns, announces that on Friday 2 December 2022 and Monday 5 December 2022, Alex Pilato a Director of ReSI's Investment Manager, ReSI Capital Management Limited, sold a total of 316,902 shares.

This is in connection with Alex's move to retirement.

ReSI's Non-Executive Directors hold 372,165 ordinary shares. The total number of ordinary shares owned by the directors and former directors of the Investment Manager is 2,042,253. The Investment Manager also owns 3,647,399 ordinary shares directly. The Investment Manager and its current and former directors thus hold 6,061,817 ordinary shares, 3.27% of shares in issue (excluding shares held in treasury). 

Notification and public disclosure of transactions by persons discharging managerial responsibility and persons closely associated with them

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Alex Pilato
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification/ Amendment	Initial notification
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 of the financial instrument, type of instrument Identification code	Ordinary shares of 1 pence each ISIN GB00BYSX1508
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Price(s) 1.  81.096 pence per share 2.  85.321 pence per share 3.  85.715 pence per share 4.  85.012 pence per share	Volume(s) 1.  50,000 2.  100,000 3.  50,000 4.  116,902
d)	Aggregated information - Aggregated volume - Aggregated price	316,902 ordinary shares Total Price: £268,107.20
e)	Date of the transaction	1.  2 December 2022 2.  2 December 2022 3.  2 December 2022 4.  5 December 2022
f)	Place of the transaction	London Stock Exchange

- 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 Charles Gorman Charlotte Francis Millie Steyn	[e-mail] [phone]

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. (paid quarterly) in FY23 and a total return in excess of 8.0% per annum [i] . As at 30 September 2022, including committed acquisitions, ReSI plc's portfolio comprises 3,284 properties, with an (unaudited) IFRS fair value of £383mn [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

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[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 £9mn of committed acquisitions.

 

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