Retirement Distrib & Shared Ownership Sale Update

Residential Secure Income PLC

31 July 2026

 

For immediate release

31 July 2026

Residential Secure Income plc
("RESI" or the "Company")

Retirement Disposal Distribution and Shared Ownership Update

Following completion of the Company's Retirement Disposal on 16 July 2026 and distribution in specie of the 66,103,233 newly issued ordinary shares of £0.01 each in the capital of Living REIT plc to the Company's shareholders ("Shareholders") on 23 July 2026, the Company today provides an update regarding future distributions and the disposal of its Shared Ownership Portfolio (the "Shared Ownership Disposal").

In accordance with the agreed terms of the Retirement Disposal, up to £1.0 million of the purchase price for the Retirement Portfolio is payable in LIVE Ordinary Shares following the completion accounts process (the "Deferred Amount"). The Deferred Amount is payable 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. The completion accounts process has now concluded and a total of 888,896 LIVE Ordinary Shares (the "Additional Consideration Shares") in respect of the Deferred Amount, representing £837,607 of consideration at the Issue Price, will be allotted and issued to ReSI Portfolio Holdings Limited ("RPHL"). It is expected that the Additional Consideration Shares will be distributed in-specie to Shareholders in the coming weeks and the Company will publish a timetable shortly.

With regards to the cash consideration in respect of the Retirement Disposal, the Company expects to announce the expected timetable and amount of its initial B share distribution, together with details of its FY25 property income distribution, by mid-August 2026.

As set out in the Company's announcement of 17 June 2026, the Company and its bidder had been targeting completion of the Shared Ownership Disposal in late-July 2026. As announced on 17 June 2026, under the heads of terms agreed with the bidder, the net consideration for the Shared Ownership Portfolio is expected to be approximately £13.5 million, subject to adjustment under a completion accounts mechanism, of which £5 million will be retained, and is expected to be released post completion, upon satisfaction of asset management deliverables. The Company and its bidder, and their respective legal and technical advisers, have been working constructively but certain sale and purchase workstreams remain outstanding. Completion of the Shared Ownership Disposal remains subject to final legal agreement of terms and the satisfaction of certain conditions, and the parties are working towards completion as soon as possible, expecting this to occur on or before 30 September 2026.

Further details will be provided to Shareholders at the appropriate time, in accordance with the Company's disclosure obligations.

For further information please contact:

Gresham House Real Estate Mike Adams Sandeep Patel	[phone]
Peel Hunt LLP (Broker) Luke Simpson Huw Jeremy	[phone]
KL Communications Charles Gorman Henry Taylor	[e-mail] [phone]

 

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