REGISTRATION AS A PROVIDER OF SOCIAL HOUSING

9 July 2018

REGISTRATION AS A PROVIDER OF SOCIAL HOUSING

Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in residential asset classes that comprise the stock of UK social housing providers, is pleased to announce that ReSI, through its wholly owned subsidiary ReSI Housing Limited ('ReSI Housing'), has become the first publicly listed investment fund to become a Registered Provider with the Regulator of Social Housing.

ReSI Housing provides a unique proposition to Housing Associations, being a long term private-sector partner social housing landlord who will keep their assets within the social housing regulatory environment.  Thus Housing Associations can free capital to fund new developments whilst maintaining responsibility for management, maintenance and letting.

The regulatory environment for social housing emphasises good governance and financial viability, which is embraced by ReSI's existing strategy, and provides further assurance to ReSI Housing's Local Authority and Housing Association partners. 

Becoming a Registered Provider also allows ReSI Housing to acquire properties that are designated as affordable accommodation and those that are funded by government grant, thus expanding the range of opportunities available to ReSI.

FOR FURTHER INFORMATION, PLEASE CONTACT: 

FTI Consulting                                                                                        +44 (0) 20 3727 1000

Richard Sunderland                                                                                   Email: [email protected]

Claire Turvey

Richard Gotla

NOTES:

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 has been established to invest in portfolios of Homes across residential asset classes that comprise the stock of Housing Associations and Local Authorities, comprising Shared Ownership Homes and Rental Homes (being Market Rental Homes, Functional Homes and Sub-Market Rental Homes) throughout the UK. 

ReSI is managed by ReSI Capital Management Limited, a wholly owned subsidiary of TradeRisks Limited which has a 17 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 recycle capital back into 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