Business
Key Information Document
Key Information Document.
About this update from Residential Secure Income Plc
[{"type":"text","content":"\n \nRNS Number : 1159A Residential Secure Income PLC 21 December 2017 \n\n21 December 2017 \n \nResidential Secure Income plc\n(\"ReSI\" or the \"Company\")\nLEI: 213800D24WA531LAR763\nKey Information Document\n \nResidential Secure Income plc has released a Key Information Document (\"KID\") in compliance with the Packaged Retail and Insurance-based Investment Products (\"PRIIPs\") Regulation that comes into effect on 2 January 2018.\nThe KID is available on the Company's website in the Investor section under Company Documents at https://www.resi-reit.com/company-documents\n-ends-\n \nNotes:\nResidential 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.\nReSI 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.\nReSI is managed by ReSI Capital Management Limited, a wholly owned subsidiary of TradeRisks Limited which has a 16 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.\nReSI 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.\nHomes 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.\nReSI is targeting, on a fully invested and geared basis, a dividend yield of 5% per annum...