Residential Secure Income PLC Net Asset Value(s) (5980P)
May 30 2018 - 2:01AM
UK Regulatory
TIDMRESI
RNS Number : 5980P
Residential Secure Income PLC
30 May 2018
30 May 2018
Residential Secure Income plc (the "Company")
Net Asset Value
The Company is pleased to announce that its unaudited net asset
value ("Net Asset Value" or "NAV") per ordinary share was 99.4
pence as at 31(st) March 2018, reflecting an independent valuation
of the property portfolio prepared on a IFRS basis.
The movement in NAV since admission of the ordinary shares on
12(th) July 2017 is as follows:
GBPm Pence per
share
------------------------ ------ ----------
Net Asset Value as
at 12(th) July 2017 176.4 98.0
------------------------ ------ ----------
Income for period 3.9 2.2
------------------------ ------ ----------
Expenditure for period (3.5) (1.9)
------------------------ ------ ----------
Valuation change in
property portfolio 3.8 2.1
------------------------ ------ ----------
Dividend paid (1.4) (0.75)
------------------------ ------ ----------
Net Asset Value as
at 31(st) March 2018 179.2 99.4
------------------------ ------ ----------
The NAV total return (movement in NAV plus dividends paid) over
the period was 2.20%.
The NAV has been calculated in accordance with International
Financial Reporting Standards and incorporates the independent
valuation on a "sum of the parts" basis, in accordance with, and
required by, international accounting standards. The NAV does not
include a provision for the second interim dividend, due to be paid
on or around 11 June 2018.
Further detail will be provided in the interim results, which
will be published before the end of June 2018.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ReSI Capital Management Limited
Jonathan Slater
Ben Fry +44 (0) 20 7382
Alex Pilato 0900
Jefferies International Limited
Stuart Klein +44 (0) 20 7029
Gary Gould 8000
FTI Consulting +44 (0) 20 3737 1000
Richard Sunderland Email: resi@fticonsulting.com
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 GBP10 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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