13 Apr 2023 18:18
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR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. PLEASE SEE THE 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)