- Proposed wind-down and portfolio realisation
- 31 per cent discount to IFRS NAV of £155mn
- 50 per cent pro-forma loan-to-value ratio
- £81mn (44p) reversionary surplus not embedded in NAV
- 7.1 per cent dividend yield
The board of Residential Secure Income (RESI:57.7p), a real estate investment trust with secure inflation-linked returns, has proposed a managed wind-down of the company to return capital to shareholders.
The directors highlighted the liquidity of the shares, increasing investor demand for larger listed funds and a persistent, material share price discount to net asset value (NAV) as reasons for pursuing a portfolio realisation to maximise shareholder value.