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Do the published statements name the buyer of those plots as it might then require just a quick check on Companies House to ID the related party?
Very messy. Wonder if the related party transactions relate to the sale of 2,822 plots for the giveaway of £9.5m. Even with claims of those being less desirable that worked out at less than £3.5k per plot and obliterated their land holdings.
Well make sure you use Lurpak on your bread HearsHopin :-)
£5m raise at plc level at 10p, sell up wind down company, at around 30p NAV, 25p / share fire sale.
If they went down that route.
Someone just bought 50k shares.
I don't think there is anything to panic about, it's aim rules that it has to be suspended until they get audited. Look at the company's assets plus the go ahead to build a whole new village.
Well no point if they don’t let you buy
I hope you're right. Today's news not as bad as it might be.
NT to buy… raise at 10p and suspension only due to delay in accounts, looks a good bet here IMO
People need to look at there assets, this could be sold and taken private.
Rather than just do one asset sale?
Company hoping to raise money at a SP 50% ABOVE the current price when investors are already bailing out. Those who might wish to buy at 10p are probably those already heavily invested so thinking this top up might be there only hope of salvaging their existing pot. Why take such an enormous risk, the future here is very bleak.
Plus, those related party matters are still unclear. Surely they are pretty fact based so can be disclosed now to reduce the worry a bit that some insiders have been doing some naughty things.
All these figures look great on a balance sheet but without cash they will struggle to keep going, hopefully some of the sites are sold as soon as possible to give a cash injection and allow projects to recommence which are currently seemingly on hold
Nearly 30% of shares are held by financial Institutions.
Inland Homes #INL 3.bn estimated value.
3,689 plots with planning consent.
10,055 plots inland portfolio.+
2,934 planning applications submitted.
RNS 9th March planning consent granted, creating a new Urban village of 1,776 homes, 19,000 sqm of commercial space, new primary school. +
Assets 90m Borrowing 48m.
Shares in issue 226m Market cap 18m Current SP 8p 1 year high 60p.
buy back scheme.
It's absolutely staggering that given the property market growth of recent years, Inland homes finds itself in such a perilous position on the first signs of a downturn.
Or like many COs with such strong downtrend will simply go bust and PIs will have their pants down again!?
Anyone care to speculate what a break up value might be. Clearly in current circumstances this is not straightforward.
I suppose at 74 you don't have to be too worried about how this might look on the old CV afterwards if it goes pear shaped. For his sake hopefully compos mentis enough to to have gone into this with eyes wide open.
Interested to see how they play this government red card. Gove has threatened to remove the right to build from non-signers, so perhaps they intend to stop construction and instead move instead to managing the portfolio. Either scenario needs an RNS you'd think.
chart link, for anyone who wants to see it.
Massive bullish ABCD on Monthly TF over 2 years
Huge bullish Crab harmonic Daily TF over 2 years.
500% gains from the ABCD, wont go up in a straight line!
https://www.tradingview.com/x/o3sRDejp/
Last buy at 1 was my top up, says unknown. So the one before was a bit aswell.
Chart, massive ABCD and harmonic on chart.
Off to the vets so will post link later.
Aged 74. Hopefully he'll be aware of the related party relationship laws. No news yet on that front.
Lots more news to come....
Second new director ex Barratt
Inland Homes plc (AIM: INL), the housebuilder, partnership housing developer and regeneration specialist focused on the South and South East of England, is pleased to announce the appointment of Trevor Sawyer as an independent non-executive director of the Company with immediate effect.
Trevor Sawyer has had an extensive career working in the housing development industry, previously as a Managing Director of Barratt Homes Southern Counties and a non-executive director of Orbit Homes.
Bit conflicting
25 January 2023
“ Cladding and fire safety position
**The Group is a signatory ** to the Department for Levelling Up, Housing and Communities Developer Pledge and is committed to removing cladding and remediating fire safety issues in buildings over 11 metres where it has minimal exposure. There was no financial impact of, or material provisioning for, remedial works in the financial year ended 30 September 2022.”
Made it to the government's naughty list
https://www.gov.uk/government/publications/developer-remediation-contract
Appointment of new Chairman
Inland Homes plc (AIM: INL), the housebuilder, partnership housing developer and regeneration specialist focused on the South and South East of England, is pleased to announce the appointment of Matthew Robinson as an independent non-executive director and Chairman of the Company with immediate effect.
No, it would be temporarily suspended while they sort out the new directors if they are not approved by end of play Tuesday, it wouldn’t be delisted.
News on
New directors
Strategic review
Results
All to come.