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by lunchtime, the trade sizes will be bigger and more will be tempted by the NAV and v recent spike to 15p+. once wikes returns suspect we'll see revision of the sp upwards.. was at 20p when wicks retired so would seem fairly easy to see 15p again... assuming nothing else goes wrong in next couple of weeks.
This seems cheap particularly as the bank waivers were sorted last month
I am assuming auditors have brought the related issue up as part of finalising the accounts
As I've always claimed here, the company operates as if a private vehicle and now with the unreported related party transactions issue, it is a proof of the pudding. This has probably been going on here for a number of years so a LSE investigation would be correctly due to look at each transaction to determine for whose benefit they were as if not primarily for the company then the directors would be culpable. The company is now Un-investable until the answers are known and all people brought to account.
"in such circumstances, lead to a suspension of the Company's shares. The Company considers this to be an unlikely scenario. The Board is pleased to confirm its intention to re-appoint one of the original founders and former CEO, Stephen Wicks to the Board as soon as possible"
The share price will tank on the back of this rns..............but I think it's simply that Bennett had share-holdings in other companies that either sold land to INL or bought sites from INL..............Wicks coming back to the fold will help long-term - he's a deal doer and right now INL needs a deal doer.
I think there's an opportunity to make a few quid here - buy on the (significant) dip! (but it might not come back up quickly so bear that in mind. It'll take deals to make the share price come back. BUT it'll be oversold, imo, on the back of this news.
Expect it will suggest needing to complete a few large asset sales or need to refinance the projects that they want to hold with longer term debt to clean up the debt structure.
It’s the Nav they keep saying they had in September, it would have changed as land values change weekly realistically they haven’t dropped 50%
Disclaimer : I may have just blinded myself to the downside as it seems cheap to me and I can envisage a path to get the sp closer to what the nav is - ie potentially : asset sales, clear debts(refinance some. Projects) resume buybacks, more asset sales, return cash to shareholders, while preparing facilities for new investments in the event of deals in the coming downturn.
Itisagame... what do you think they can realistically achieve via the strategic review?.
Also, has the company really got £90m of assets post paying off all debt and liabilities?. If so this looks like a good company.
expect that they will need to complete / release the Accounts and strategic review around same time as one cannot contain information that conflicts with the other.
"The Board expects to report full year results and IFRS net asset value in line with the trading update provided on 25 January 2023."
Reminder 25th Jan : "As a result of the items referred to above, the expected loss before tax for the year ending 30 September 2022 is now approximately £91.0m and the net assets at the balance sheet date approximately £90.0m, which represents an IFRS net asset value of approximately 40p per ordinary share, which excludes any EPRA uplift. "
Chaps - saw this written by the Planning Director at INL last week and thought I'd quote it here;
'In amongst the interesting headlines #inlandhomes #planning #residentialdevelopment #goodnews whilst the last two years may have been challenging for all of us, the Planning and Land teams at Inland have continued to deliver #success that sometimes goes unnoticed. Big wins in 2021 - Master Brewer and The Patchworks Walthamstow amongst many, were followed up in 2022 with some exceptional #planningapprovals #Planningappeal. Staines Town Centre (two tallest buildings to be built), Maitland Lodge (green belt site), Coles Lane, Ockley (Countryside site in Mole Valley) and Framfield (edge of settlement). Yet again nearly 2000 units in the bag. This year is looking just as promising and possibly even better with #Hounslowcavalrybarracks looking good for the near future and other significant schemes well advanced and in the pipeline. Personal note I appreciate, but again wanted to thank all of the team of loyal consultants who we value, and my team of Ben Johnson Stephanie Walker Patrick Thomas and Matt Jackson'
Strategic sale - strategic review*
I expect the strategic sale to indicate that they should aim to sell ~£50m worth of assets, repurchase some INLZ on market and eventually clear the ZDP shares, the loan, renew the RCF, this would leave them in a very healthy position
news drops out of the blue and you're either in or you're not. doesn't have the following for the sp to rise significantly psot-news (though the last news proves that statement wrong!).
there is obviously going to be a sale of some their assets and, with a recovery in house prices and forward prospects, it'll be good news. but when... could be monday or in a month's time. so the only question is how long would you be willing to park your money doing nothing while the rest of the world turns,,.
Maybe this and maybe that………
Ceo of a PLC is a much different job to being ceo of a private company.
Maybe it was to do with the strategic sale and the ideas on how to proceed with it from the major shareholders.
The last ceo must have seen a ghost !
just waiting to see if a few more will get scared into selling sub 11...
Wouldn't be surprised if those selling in the 11's bought in the 13's and 14's
I mentioned INL was too cheap at 8p a week ago
Also believe PURP will get takeover from their 26% major holder Axel
especially if you sold into the spike on friday. all the talk of 18p/25p targets in the short term and higher for later in the year, on a couple of asset sales and the sp could be a good one to hold for that 40p target.
Was 30p when they extended the share buy backs in sept, which were “paused” pending result of strategic review.
https://twitter.com/share_talk/status/1627414141303508999?s=46&t=-08F2X_C8peJJVX8TggoZA
https://www.stockopedia.com/share-prices/inland-homes-LON:INL/
Do u have link thx
Sp at 15p for 40p nav of real assets even after the harsh provisions.
Inlz looks pretty cheap too as basically a bond, at 1.35-1.50 for the £2 redemption in 14 months.
Zak talks technical targets.