REG - Inland Homes PLC - Results of Direct Subscription

Inland HomesAnnouncement

13/04/2023 18:30

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RNS Number : 1856W  Inland Homes PLC  13 April 2023

 

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IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT

 

Inland Homes plc ("Inland Homes" or the "Company")

 

Result of Direct Subscription

 

Inland Homes plc (AIM: INL), the leading brownfield developer, housebuilder
and partnership housing company with a focus on the South and South East of
England, announces that it has closed the direct subscription offer announced
on 12 April 2023 (the "Subscription"), having raised £2.5 million with the
issue of 25 million new Ordinary Shares ("Subscription Shares") at a price per
Subscription Share of 10 pence (the "Subscription Price"), being the nominal
value of the Company's ordinary shares ("Ordinary Shares"). The net proceeds
of the Subscription will be used to fund working capital requirements within
the Company.

 

The Subscription Shares will, when issued, be credited as fully paid and rank
pari passu with the existing Ordinary Shares, including, without limitation,
the right to receive all future dividends and distributions declared, made or
paid after the date of issue of the Subscription Shares.

 

Application has been made to the London Stock Exchange for the Subscription
Shares to be admitted to AIM. Such application will be considered by the
London Stock Exchange in due course around the time of any restoration of the
Company's shares to trading on AIM. The Subscription Shares will be issued
under the authorities granted to the Company at its Annual General Meeting
held on 31 March 2023.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Nishith Malde, Finance Director of the Company.

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which forms part of UK law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR").

 

For further information, please contact:

Inland Homes plc Tel: 44 (0)1494 762450

Nishith Malde, Chief Financial Officer

 

Panmure Gordon (UK) Limited (NOMAD and broker to the Group) Tel: 44 (0)20 7886
2500

Dominic Morley / James Sinclair-Ford (Corporate Advisory)

 

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