Residential Sec Regulatory News (RESI)

24 June 2026

Residential Secure Income plc

("ReSI" or the "Company") 

Interim Results to 31 March 2026

Residential Secure Income plc (LSE: RESI), a real estate investment trust implementing a managed wind-down of its Retirement and Shared Ownership portfolios, today announces its interim results for the six months ended 31 March 2026. These results follow the Company's announcement on 17 June 2026 of the conditional sale of its Retirement Portfolio and the publication of a shareholder circular on 19 June 2026.

Commenting on ReSI's Interim results, Robert Whiteman CBE, Chairman of ReSI said:

"The Company delivered resilient operational performance through the period, adjusted earnings increased 4% to £5.2 million, dividend cover strengthened to 136%, and like-for-like rental growth of 4.4% was achieved across both portfolios, with the valuation decline slowing to 1.3%.

Since the period end we have reached agreement on the realisation of both portfolios: the conditional sale of the Retirement Portfolio to SOHO, and an exclusivity agreement on the Shared Ownership Portfolio. Together these represent the substantial completion of the strategy Shareholders approved in December 2024. The Board's focus now is on completing both transactions and returning value to Shareholders efficiently and responsibly, while continuing to protect our residents"

Key financial metrics

Operational Highlights

· 2,922 homes valued at £282.2 million at 31 March 2026 (30 September 2025: 2,935 homes; £287.4 million)

· Retirement Portfolio: 2,198 homes; 96.8% average occupancy; 99.8% rent collection; +4.3% like-for-like rent growth

· Shared Ownership Portfolio: 724 income-generating homes; 100% occupied; 100% rent collection; +4.9% like-for-like rent growth

· Both portfolios underpinned by long-dated, inflation-aligned income, with a blended net initial yield of 5.9% (Retirement 6.7%; Shared Ownership 4.8%)

Realisation Highlights

· Retirement Portfolio: conditional sale to Social Housing REIT plc (SOHO) announced 17 June 2026 for aggregate consideration of approximately £108.3 million (£45.0 million cash; approximately £63.3 million in new SOHO shares at SOHO's 31 December 2025 EPRA NTA of 94.23 pence), subject to a completion-accounts adjustment

· Shared Ownership Portfolio: advanced to extended exclusivity; heads of terms agreed for net consideration of approximately £13.5 million, subject to completion accounts adjustment, (approximately £5 million released post-completion on asset-management deliverables); completion targeted late July 2026

· General Meeting to approve the New Investment Policy, New Articles and B Share Scheme convened for 8 July 2026; Retirement Disposal completion expected July 2026, subject to conditions including SOHO shareholder approval

Capital Returns, Dividends and Valuation Frequency

· No interim dividend declared this period, with the context that a dividend would ordinarily accompany each quarterly NAV release, and no further ordinary dividends intended

· In-specie distribution of the SOHO consideration shares, anticipated late-July 2026

· B Share Scheme targeting an initial return in Q3 2026, further return Q4 2026 for the deferred Shared Ownership Portfolio consideration, net of costs, liabilities and REIT-exit retentions

· Valuation frequency moving to semi-annual (31 March / 30 September), with 31 March 2026 expected to be the final independent valuation

Interim Report

A copy of the pdf Interim Report is available on the Company's website at https://greshamhouse.com/real-assets/real-estate-investment/residential-secure-income-plc/ where further information on the Company can also be found. The Interim Report has also been submitted to the National Storage Mechanism and will shortly be available at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

For further information, please contact:

About ReSI plc

ReSI plc (LSE: RESI) is a real estate investment trust (REIT) focused on delivering secure, inflation-linked returns with a focus on two residential sub-sectors in UK residential - independent retirement rentals and shared ownership - underpinned by an ageing demographic and untapped and strong demand for affordable home ownership.

ReSI plc's purpose is to deliver affordable, high-quality, safe homes with great customer service and long-term stability of tenure for residents.

ReSI plc's subsidiary, ReSI Housing Limited, is registered as a for-profit Registered Provider of social housing and so provides a unique proposition to its housing developer partners, being a long-term private sector landlord within the social housing regulatory environment. As a Registered Provider, ReSI Housing can acquire affordable housing subject to s106 planning restrictions and housing funded by government grant.

In December 2024, shareholders voted for and accepted a new investment objective which seeks to realise all the existing assets in the Company's portfolio in an orderly manner. The Company will pursue its investment objective by effecting an orderly realisation of its assets while seeking to balance maximising returns for Shareholders against timing of disposals whilst ensuring the interests of residents are protected. Capital expenditure will be permitted where it is deemed necessary or desirable in connection to the realisation, primarily where such expenditure is necessary to protect or enhance an asset's realisable value, to comply with statutory or regulatory obligations, to protect other stakeholders, to comply with the terms of any funding arrangement or to facilitate orderly disposals.

About Gresham House and Gresham House Real Estate

Gresham House is an alternative asset manager committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions

Gresham House Real Estate offers long-term equity investments into UK housing, through listed and unlisted housing investment vehicles, each focused on addressing different areas of the affordable housing problem. Each fund aims to deliver stable and secure inflation-linked returns whilst providing social and environmental benefits to its residents, the local community, and the wider economy.

Further information on ReSI plc is available at www.resi-reit.com, and further information on Gresham House is available at www.greshamhouse.com

Notes:

1 Alternative performance measures

2 Adjusted earnings is EPRA earnings adjusted for income and costs which are not recurring and is equivalent to IFRS profit after tax before one-offs and valuation adjustments.

3 Dividend cover measured as Adjusted earnings per share divided by dividend per share