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Should I be (we be?) worried - having pointed out the share buying bonanza last month.......it now appears that Plus has significantly slowed the share buybacks.............we're back to the 25,000 a day. Which, bearing in mind the 'low' share price at the moment (or is it high......but we just don't know the facts at the moment and thus think it's low......when in fact it shouldn't be at all) doesn't make sense...........or does it?

Do they know something we don't?

Am i missing something? There are currently 224,000,000 shares in circulation right? And they're 5.5p a share. So that's £12-13mill give or take. To buy £2billion+ in land potential. (plus the small matter of £100mill in debt and a main contracting business that needs massive amounts of cash (and risk) of course)........but to take control of the business needs £13mill right? Let's add a 40% premium to the share price.....so that makes for a total of 8p a share.......so that's it £18mill (or just under). Is it at this point everyone realises I'm an idiot ........or is that right? And if so.......why hasn't anyone done it - you're effectively buying land at a 85% discount to it's NAV right (40p vs 5.5p or 8p if you have to entice the shareholders).

Will help with working capital requirements that's all. Gets them out from under in the short term.

I don't think they are cancelled. In fact - haven't a load of the bought-back shares just been given to the Directors (13mill of them?) - have I read that RNS (from 3 or 4 weeks back) right?

I'd just prefer the buybacks to stop and they hand back the money in dividends in all honesty.

132,000 bought yesterday - that's quite a buying spree...............and yet the share price continues to fall................is that because of a misunderstanding of when Plus typically makes money (when the global economy is in tumult) or is there a seller continually dropping shares into the market keeping the price depressed?

Either way - we're under 92,000,000 shares in circulation now. Can only be a good thing for future dividend announcements/yield.

52,000 bought on 13th March, 104,000 bought yesterday. The average (not that I've been looking each day but sporadically over the last month or so and previously) has been 15,000-30,000 generally. 30k a day in the previous window but recently (with the share price rise close to £20) they'd slowed things down to 15k or so. Now we're at £17 they're really going for it.....which should tell us something.

Perhaps they should put an RNS out saying they had no money in SVB to give extra confidence. If I was in their shoes, I would....

Following this avidly (because I've got Drumz shares and they have a significant investment in KCR).

BUT keep on thinking - do I invest directly in this too?

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.

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'

I honestly thought this was really going to kick on................but it really isn't happening is it?

So INL have effectively given themselves 7 months to sell some sites and make a material dent in the debt. Which, from my perspective seeing the demand for sites at the moment, is a good possibility. And importantly, wont be firesale prices either imo. Sentiment/confidence has grown sharply over the last 2 weeks even, never mind since the doom-mongering over xmas. Let's see how things go.

I've seen on Linkedin that INL are looking for a partner on their Hillingdon Gardens site (the controversial site, that was called in by the secretary of state that caused massive planning delays). Which says to me they are going to try and build it but with an end-user on board to share the cost and risk. Search for stephen wicks (he posts on linkedin regularly) and all will be revealed. Not sure how i feel about that.........i'd much rather they sold it........but the market is definitely calming (for new property) and there's demand definitely coming back. Confidence in the market again.......We'll see.

Reading between the lines......the first US deal they signed (last year? year before that?) hasn't really done a great deal so effectively they've had to find alternative routes to market. Hopefully these will bear fruit.

No debt. $930mill in the bank. Proper Firepower. Average customer holding up from $5k to £8k. More buybacks (I'm a bit 'meh' about buybacks now - perhaps the thoughts are to get the shares in circulation down to just under 90m?) and two dividends announced. Part of me wishes they'd put the next buyback amount into a dividend but hey - not complaining too much. Japan looks interesting and we've not seen the US really hit hard yet - hopefully that'll start to come through for us in 2023 and beyond. Feels positive. Now all they have to do is join FTSE or NYSE. That would supercharge the shareprice imo. Break the £20 issue once and for all.

Completely agree on your synopsis MrBB - we're in a totally different place, now to then. The saudi thing is interesting - just one customer there (an oil sheikh) could be than some countries!

The US is interesting (and again, we've not even scratched the surface of what that market will do). Not even scratched the scratch that scratches the actual scratch imo.

Long term hold for me. There's only 92mill shares in circulation now too.

Just looked it up. It hit £20 on the 9th Aug 2018 (a thursday as it happens) and someone said they'd sold - general consensus was that that was the wrong decision. RNS comes out Monday and there's an immediate £1 off the price and by 23rd Aug it was at £15......and falling!

The last time it got to £20 (2018?) i distinctly remember another poster on here saying 'I'm selling' because it had hit the £20 and there was a results announcement due the next day. He sold (because he was worried it had hit it's top value) .......whilst i bought into the 'it's going to hit £25 in 6 months time brigade'..............and lo.........the next day Plus put out one of their classic 'it's been a disaster and we didn't give you guys any idea and moreover we've decided to write this disastrous news in an RNS announcement that is particularly hard to read and in fact raises more questions than it actually answers, coupled with the fact that it's extremely hard to work out what is or has happened to the business since the last RNS announcement' .....and that was that........the share price tanked like an anvil attached to a hippo chucked out of a helicopter. Thankfully those sorts of announcements are a thing of the past.....but £20 is a big deal for me although the fundamentals (with nearly £11 a share in cash helps) are totally different now (on every level, inc far better written announcements, which, trust me, compared to what we used to have to decipher/read between the lines, is very welcome. Let's see what happens for the rest of the year.

I think they've got enough sites with a consent to keep the lights on (by selling them) Flying Higher but I'm not sure what the future holds.

Tbh - wicks might be best coming back -he's a deal-doer (knows everyone).

Not great is it ; everywhere you look, there are issues, loads of issues. But......they are right on one thing. Consented land is in massive demand. It doesn't matter whom owns it or how much grief they've had in capturing the consent.....all they are interested in is the consent. That's the one ray of light in all of this.

Might look at the Z shares and have a think about them.....can't see much value in the actual shares.....unless a buyer comes in and pays near the 40p valuation......

Non kosher saveloy! Please don't blaspheme Worst! :) INL need to put something positive out pronto to allay investors fears imo.