INL.L Regulatory News (INL)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, CANADA, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF INLAND HOMES PLC.

THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021).

30 April 2020

Inland Homes plc

PrimaryBid.com Offer

Inland Homes plc (AIM: INL) ("Inland", the "Company" and, together with its subsidiary undertakings, the "Group"), a leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south-east of England, is pleased to announce, following today's earlier announcement (the "Placing Announcement"), a conditional offer for subscription via PrimaryBid (the "PrimaryBid Offer") of new ordinary shares of 10 pence each in the capital of the Company (the "PrimaryBid Subscription Shares") at an issue price of 47.5 pence per share (the "Issue Price").

Capitalised terms used in the Placing Announcement have the same meanings in this announcement.

As set out in the Placing Announcement, the Company is also today conducting a Placing of new Ordinary Shares at the Issue Price by way of an accelerated bookbuild process managed by Panmure Gordon, as agent for and on behalf of the Company. The Capital Raising will raise up to £9.9 million (before expenses).

The Issue Price represents a discount of 11.2 per cent. to the closing middle market price of an Ordinary Share on 29 April 2020 (being the latest practicable date prior to the publication of this announcement).

The PrimaryBid Offer and the Placing are conditional upon the New Ordinary Shares being admitted to trading on AIM ("Admission"). Admission is expected to be take place at or around 8.00 a.m. on 6 May 2020. Completion of the PrimaryBid Offer is conditional upon the Placing becoming unconditional in all respects.

The Company will use the net proceeds of the PrimaryBid Offer as described more fully in the Placing Announcement.

The PrimaryBid Offer

The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the PrimaryBid Offer by applying exclusively through the www.PrimaryBid.com platform and the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.

The PrimaryBid Offer, via the PrimaryBid.com platform, will be open to individual and institutional investors from 7.00.a.m. on 30 April 2020 to 5.00 p.m. on 30 April 2020. The PrimaryBid Offer may close early.

Subscriptions under the PrimaryBid Offer will be considered by the Company on a "first come, first served" basis, subject to certain conditions which are available to view on PrimaryBid.com.

No commission will be charged to investors on applications to participate in the PrimaryBid Offer made through PrimaryBid. It is important to note that once an application for PrimaryBid Subscription Shares has been made and accepted via PrimaryBid, that application is irrevocable and cannot be withdrawn.

For further information on PrimaryBid.com or the procedure for applications under the PrimaryBid Offer, visit www.PrimaryBid.com or call PrimaryBid.com on +44 20 3026 4750. Additional information on the PrimaryBid Offer are set out below.

The PrimaryBid Subscription Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company's existing Ordinary Shares in issue, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Further details of the PrimaryBid Offer

The Company highly values its retail investor base which has supported the Company over several years. Given this longstanding support, the Company believes that it is appropriate to provide retail and other interested investors with the opportunity to participate in the Capital Raising through the PrimaryBid Offer. The Company is therefore making the PrimaryBid Offer available exclusively through PrimaryBid.com.

It is a term of the PrimaryBid Offer that the total value of PrimaryBid Subscription Shares available for subscription at the Issue Price does not exceed €8 million equivalent. Accordingly, the Company is not required to publish (and has not published) a prospectus in connection with the PrimaryBid Offer as it falls within the exemption set out in section 86(1)(e) and 86(4) of the Financial Services and Markets Act 2000. The PrimaryBid Offer is not being made into any jurisdiction where it would be unlawful to do so.

The PrimaryBid Offer is open to existing shareholders and other individual investors subscribing via PrimaryBid.com. There is a minimum subscription of £100 per investor under the terms of the PrimaryBid Offer and allocations will be filled on a "first come first served" basis.

The Company, in consultation with PrimaryBid, reserves the right to scale back any order at its discretion.

For further details please refer to www.PrimaryBid.com. The terms and conditions on which the Offer is made, including the procedure for application and payment for PrimaryBid Subscription Shares, is available to all persons who register with PrimaryBid.com.

It should be noted that a subscription for the PrimaryBid Subscription Shares and any investment in the Company carry a number of risks. Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice. Investors should take independent advice from a person experienced in advising on investment in securities such as the Ordinary Shares if they are in any doubt. 

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