Residential Secure Income PLC Director/PDMR Shareholding (0293X)
15 Dezember 2023 - 2:50PM
UK Regulatory
TIDMRESI
RNS Number : 0293X
Residential Secure Income PLC
15 December 2023
15 December 2023
Residential Secure Income plc
PDMR Dealing
Residential Secure Income plc ("ReSI plc") (LSE: RESI), which
invests in independent retirement living and shared ownership to
deliver secure, inflation-linked returns, is managed by Gresham
House Asset Management Limited (the "Investment Manager"). The
ultimate parent of the Investment Manager is Gresham House plc
("GHE").
Further to the announcement dated 14 April 2023, on 12 April
2023, GHE awarded Mr Benjamin Fry, Managing Director (Housing) at
the Investment Manager and a PDMR of ReSI plc, a nil cost option to
acquire GBP80,000 worth of GHE shares (the "Award") which could be
settled in: (a) shares in GHE, (b ) 101,729 ReSI plc ordinary
shares (gross), or (c) cash.
Immediately following the sanction of the scheme of arrangement
set out within the circular published on 4 August 2023 to implement
the acquisition of GHE by Seed Bidco Limited pursuant to Part 26 of
the Companies Act 2006 and in accordance with the Award terms, the
Award vested in full and Mr Fry exercised the Award on 13 December
2023. GHE determined that the Award was to be settled in 101,729
ReSI plc ordinary shares plus an additional 4,132 ReSI plc ordinary
shares added to the Award in accordance with its terms to represent
the value of dividends that were paid during the vesting period of
the Award, calculated assuming a reinvestment of dividends. On 14
December 2023, following the withholding of 49,755 ReSI plc
ordinary shares to cover applicable taxes, Gresham House Holdings
Limited instructed the transfer of 56,106 ReSI plc ordinary shares
to Mr Fry in full and final satisfaction of the Award.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Benjamin Fry
---------------------------------- ---------------------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------------------
a) Position/status Managing Director (Housing), Gresham House Asset
Management Limited
---------------------------------- ---------------------------------------------------------
b) Initial Initial Notification
notification/
Amendment
---------------------------------- ---------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------------
a) Name Residential Secure Income plc
---------------------------------- ---------------------------------------------------------
b) LEI 213800D24WA531LAR763
---------------------------------- ---------------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------------------------------
a) Description Ordinary shares of 1 pence each
of the
financial
instrument,
type of ISIN GB00BYSX1508
instrument
Identification
code
---------------------------------- ---------------------------------------------------------
b) Nature Acquisition of shares following exercise of nil
of the cost option granted by an associate of the Investment
transaction Manager
---------------------------------- ---------------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s)
Nil 105,861
---------------------------------- ----------------------------- --------------------------
d) Aggregated Acquisition of 105,861 ReSI plc ordinary shares
information following exercise of nil cost option.
-Aggregated
volume Note that 49,755 ReSI plc ordinary shares were
-Price withheld to meet tax liabilities, resulting in
Benjamin Fry receiving 56,106 ReSI plc ordinary
shares.
---------------------------------- ---------------------------------------------------------
e) Date of 14 December 2023
the transaction
---------------------------------- ---------------------------------------------------------
f) Place of London Stock Exchange
the transaction
---------------------------------- ---------------------------------------------------------
- ENDS -
For further information, please contact:
Gresham House Asset Management Limited /
Gresham House Real Estate
Ben Fry
Sandeep Patel +44 (0) 20 7382 0900
Peel Hunt LLP
Luke Simpson
Huw Jeremy +44 (0) 20 7418 8900
KL Communications gh@kl-communications.com
Charles Gorman +44 (0) 20 3995 6673
Charlotte Francis
About ReSI plc
Residential Secure Income plc ("ReSI plc" LSE: RESI) is a real
estate investment trust (REIT) focused on delivering secure,
inflation-linked returns with a focus on two resident sub-sectors
in UK residential - independent retirement rentals and shared
ownership - underpinned by an ageing demographic and untapped and
strong demand for affordable homeownership.
As at 30 September 2023 ReSI plc's portfolio comprises 3,295
properties, with an audited IFRS fair value of GBP345mn. (1)
ReSI plc's purpose is to deliver affordable, high-quality, safe
homes with great customer service and long-term stability of tenure
for residents. We achieve this through meeting demand from housing
developers, housing associations, local authorities, and private
developers for long-term investment partners to accelerate the
development of socially and economically beneficial affordable
housing.
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.
About Gresham House and Gresham House Real Estate
Gresham House is a specialist alternative asset manager
committed to operating responsibly and sustainably, taking the long
view in delivering sustainable investment solutions.
Gresham House Real Estate has an unparalleled track record in
the affordable housing sector over 20 years. 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
1. Excluding the finance lease gross up
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END
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