Retail Offer

RNS Number : 3937A

Residential Secure Income PLC

02 February 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF RESIDENTIAL SECURE INCOME PLC.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION (EACH A "RESTRICTED JURISDICTION").

THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)

2 February 2022

RESIDENTIAL SECURE INCOME PLC

(" RESI " or the " Company ") (LON: RESI)

Retail Offer

The Board of Directors (the "Board") of Residential Secure Income plc (LON: RESI), which invests in independent retirement living and shared ownership to deliver secure, inflation-linked returns, is pleased to announce, an offer for subscription via PrimaryBid (the "Retail Offer") of new ordinary shares of £0.01 each in the capital of the Company ("New Ordinary Shares") at an issue price of 108.5 pence per New Ordinary Share (the "Issue Price"). The Company is also conducting a placing of New Ordinary Shares at the Issue Price (the "Placing") as announced earlier today.   It is intended that the Placing and the Retail Offer (together, the " Issue ") will result in the Company raising gross proceeds of up to a maximum of £20 million.

The Retail Offer and the Placing are conditional on the New Ordinary Shares to be issued pursuant to the Retail Offer and the Placing being admitted to trading on the Main Market of the London Stock Exchange ("Admission"). Admission is expected to be take place at 8.00 a.m. on 7 February 2022. The Retail Offer will not be completed without the Placing also being completed.

The net proceeds, together with associated leverage, will be used to finance up to £39 million of shared ownership transactions which are currently in legals.

Retail Offer

The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the Retail Offer by applying exclusively through the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.

The Retail Offer, via the PrimaryBid mobile app, is open to individual and institutional investors and will close at the same time as the Placing.  The Retail Offer may close early if it is oversubscribed.

The Company reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the Retail Offer without giving any reason for such rejection.

No commission is charged to investors on applications to participate in the Retail Offer made through PrimaryBid.  It is vital to note that once an application for New Ordinary Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.

For further information on PrimaryBid or the procedure for applications under the Retail Offer, visit  www.PrimaryBid.com  or email PrimaryBid at [e-mail]. 

The New Ordinary Shares will be entitled to the next quarterly dividend declared by the Company for the quarter ending 31 March 2022.  However, they will not be entitled to the dividend declared on 27 January 2022 in relation to the quarter ended 31 December 2021.

The New Ordinary Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company's existing ordinary shares.

ReSI Capital Management Limited / Gresham House Housing Ben Fry / Alex Pilato	[phone]
PrimaryBid Limited Fahim Chowdhury / James Deal	[e-mail]
KL Communications Charles Gorman / Will Sanderson / Millie Steyn	[e-mail] [phone]

Details of the Retail Offer

The Company highly values its retail investor base which has supported the Company alongside institutional investors over several years. Given the longstanding support of retail shareholders, the Company believes that it is appropriate to provide retail and other interested investors the opportunity to participate in the Retail Offer. The Company is therefore making the Retail Offer available exclusively through the PrimaryBid mobile app.

The Retail Offer is offered under the exemptions against the need for a prospectus allowed under the Financial Conduct Authority's prospectus rules. As such, there is no need for publication of a prospectus pursuant to the prospectus rules, or for approval of the same by the Financial Conduct Authority in its capacity as the UK Listing Authority. The Retail Offer is only being made in the UK and not being made into any Restricted Jurisdiction or any other jurisdiction where it would be unlawful to do so.

There is a minimum subscription of £250 per investor under the terms of the Retail Offer which is open to existing shareholders and other investors subscribing via the PrimaryBid mobile app.

For further details please refer to the PrimaryBid website at  www.PrimaryBid.com . The terms and conditions on which the Retail Offer is made, including the procedure for application and payment for New Ordinary Shares, is available to all persons who register with PrimaryBid.

Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.

It should be noted that a subscription for New Ordinary Shares and investment in the Company carries a number of risks. Investors should consider the risk factors set out on www.PrimaryBid.com before making a decision to subscribe for New Ordinary Shares. Investors should take independent advice from a person experienced in advising on investment in securities such as the New Ordinary Shares if they are in any doubt.   

END

 

END

 

 

IOETBMJTMTBMTRT