Last checked at 
12 Jul 2017 07:00
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, BY ANY MEANS OR MEDIA TO US PERSONS OR IN OR INTO, THE UNITED STATES, AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
12 July 2017
Residential Secure Income plc
(the "Company" or "ReSI")
First day of dealings
Further to the announcement on 7 July 2017, the Company is pleased to announce that 180 million ordinary shares (the "Ordinary Shares") will today be admitted to trading on the Main Market of the London Stock Exchange and the premium segment of the Official List of the UK Listing Authority ("Admission"). The Ordinary Shares will trade under the ticker: RESI (ISIN: GB00BYSX1508).
The total number of Ordinary Shares in the Company in issue immediately following Admission is 180,000,000 each with equal voting rights. This total voting rights figure can be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ReSI Capital Management Limited Jonathan Slater, Chief Executive Ken Youngman, Chief Financial Officer Ben Fry, Investment Manager Alex Pilato, Director | +44 (0) 20 7382 0900 |
Jefferies International Limited Stuart Klein Gary Gould | +44 (0) 20 7029 8000 |
Newgate Communications James Benjamin Clotilde Gros Lydia Thompson | +44 (0) 20 7680 6550 Email: resi@newgatecomms.com |
NOTES:
The Company intends to invest in portfolios of Homes across residential asset classes that comprise the stock of Housing Associations and Local Authorities, comprising Shared Ownership Homes, Market Rental Homes, Functional Homes and Sub-Market Rental Homes throughout the UK.
Homes acquired by the Company 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 the Company 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.
The Company is targeting, on a fully invested and geared basis, a dividend yield of 5 per cent. per annum based on the issue price of 100 pence per Ordinary Share, which the Company expects to increase broadly in line with inflation, and a total return in excess of 8 per cent. per annum1.
The Company expects to make a meaningful contribution to the UK housing shortage by allowing Housing Associations and Local Authorities to recycle capital into socially and economically beneficial new housing.
Further information on Residential Secure Income plc is available at www.resi-reit.com
1. This is a target only and not a profit forecast and there can be no assurance that it will be met.