Net Asset Value • May 30, 2018
Net Asset Value
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National Storage Mechanism | Additional information
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 31st 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 12th July 2017 is as follows:
| £m | Pence per share | |
| Net Asset Value as at 12th 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 31st 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 Alex Pilato |
+44 (0) 20 7382 0900 |
| Jefferies International Limited Stuart Klein Gary Gould |
+44 (0) 20 7029 8000 |
FTI Consulting +44 (0) 20 3737 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
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 [email protected] or visit www.rns.com.
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