Retirement Disposal Distribution Update
Summary by AI BETAClose X
For immediate release
12 August 2026
Residential Secure Income plc
("RESI" or the "Company", and together with its subsidiaries, the "Group")
Retirement Disposal Distribution Update
On 31 July 2026, the Company announced the result of the completion accounts process in respect of the deferred consideration payable under the terms of the Retirement Disposal (the "Deferred Amount"). The Deferred Amount is payable in newly issued ordinary shares of £0.01 each in the capital of Living REIT plc ("LIVE Ordinary Shares") at an issue price equal to the EPRA NTA per LIVE Ordinary Share (the "Issue Price") as at 31 December 2025 of 94.23 pence per LIVE Ordinary Share. An aggregate of 888,896 LIVE Ordinary Shares (the "Additional Consideration Shares"), representing approximately £837,607 of consideration at the Issue Price, were allotted and issued to ReSI Portfolio Holdings Limited ("RPHL") and were admitted to the closed-ended funds segment of the Official List and to trading on the London Stock Exchange's Main Market for listed securities at 8.00 a.m. on 7 August 2026.
Accordingly, it is expected that the Additional Consideration Shares will be distributed in-specie to the Company's shareholders ("Shareholders") on the register at 6.00 p.m. on 14 August 2026 (the "Record Date") in accordance with the expected timetable set out in this announcement. The exchange ratio of the Additional Consideration Shares is approximately 0.0048 LIVE Ordinary Shares to every 1 ordinary share of £0.01 each in the Company held at the Record Date. Shareholders will be entitled to a whole number of LIVE Ordinary Shares, with any entitlement to a fraction of a LIVE Ordinary Share being rounded down to the nearest whole share.
The expected timetable in respect of the distribution in specie of the Additional Consideration Shares, is as follows(1)(2):
Event
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Admission of, and commencement of dealings in, the Additional Consideration Shares on the London Stock Exchange
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8.00 a.m. on 7 August 2026 |
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Ex date for the distribution in specie of the Additional Consideration Shares
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13 August 2026 |
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Record date for the distribution in specie of the Additional Consideration Shares
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6.00 p.m. on 14 August 2026 |
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Expected date of the distribution in specie of the Additional Consideration Shares to Shareholders
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17 August 2026 |
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Notes:
1) All references to time in this announcement are to London time, unless otherwise stated.
2) Each of the times and dates in the above timetable is indicative only and may be subject to change. If any dates and/or times change, the new dates and/or times will be notified to the Financial Conduct Authority and, where appropriate, to the Company's shareholders through a Regulatory Information Service.
For further information please contact:
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Gresham House Real Estate Mike Adams Sandeep Patel
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+44 (0) 20 7382 0900
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Peel Hunt LLP (Broker) Luke Simpson Huw Jeremy
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+44 (0) 20 7418 8900 |
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KL Communications Charles Gorman Henry Taylor |
+44 (0) 20 3882 6644 |
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