REG - Inland Homes PLC - Breach of loan covenant

Inland HomesAnnouncement

11/09/2023 17:00

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RNS Number : 0659M  Inland Homes PLC  11 September 2023

 

Inland Homes plc

 

('Inland Homes' or the 'Group')

 

Breach of loan covenant

Inland Homes plc (AIM: INL), the housebuilder, partnership housing developer
and regeneration specialist focused on the South and South East of England,
announces that it has advised HSBC that  it considers that its subsidiary
Inland Homes Developments Ltd is in breach of certain historic and forward
looking covenants in relation to a debt facility of £13.6m provided to that
company.  The facility is guaranteed by Inland Homes plc.

The total amount drawn under this facility from HSBC to date is approximately
£11m. Inland Homes plc is in active discussions with HSBC regarding waivers
for the breaches and a further announcement will be made in due course.

 

Enquiries

Inland Homes plc:
 
Tel: 44 (0)1494 762450

Jolyon Harrison, Chief Executive Officer

 

Panmure Gordon (UK)
Limited
Tel: 44 (0)20 7886 2500

Dominic Morley / James Sinclair-Ford (Corporate Advisory)

Tom Scrivens (Corporate Broking)

 

The information contained in this Announcement is deemed by the Group to
constitute inside information as stipulated under the Market Abuse Regulations
(Regulation 596/2014), as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR"). The person responsible for
arranging for the release of this announcement on behalf of Inland Homes plc
is Jolyon Harrison, Chief Executive Officer.

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