INL.L Regulatory News (INL)

19 April 2022

Inland Homes plc

("Inland Homes", "Group" or "Company")

Share Buyback Programme

Inland Homes today announces that it will undertake a share buyback programme of up to £1 million (the "Share Buyback Programme"). The Board considers that a £1 million share buyback programme is prudent, reflects the cash generative ability of the Company and maintains a sound balance sheet consistent with its capital allocation policy.

The Company has appointed its corporate broker Panmure Gordon (UK) Limited ("Panmure Gordon") to manage the Share Buyback Programme, to repurchase Ordinary shares of £0.10 each ("Ordinary Shares") on its behalf from 19 April 2022, up to a maximum aggregate consideration of £1 million (the "Share Buyback Programme"). It is the intention that this £1 million Share Buyback Programme will be completed by the time of the Company's 2023 Annual General Meeting which is to be held no later than 31 March 2023.

The Company has entered into an irrevocable commitment with Panmure Gordon to continue the Share Buyback Programme through a non-discretionary programme, repurchasing the Company's Ordinary Shares on its behalf, and within certain defined parameters. Panmure Gordon will make trading decisions in relation to the buyback of Ordinary Shares independently of the Company within the programme terms.

Share repurchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. The amount paid for each Ordinary Share (exclusive of expenses) shall not be more than the higher of the price of the last independent trade and current independent bid as derived from the trading venue where the purchase was carried out, or less than 10 pence per share. Under the Share Buyback Programme, the repurchased shares will either be held in treasury at the Company's discretion for later reissue or cancellation. Shares held in treasury are not entitled to dividends and have no voting rights at the Company's general meetings.

The Share Buyback Programme is in accordance with the Company's general authority to purchase a maximum of 23,009,105 Ordinary Shares, granted by its shareholders at the Annual General Meeting held on 21 March 2022 and the purpose of the Share Buyback Programme is to increase net asset value per share by reducing the Company's share capital. The Share Buyback Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU ("UK MAR") and the Commission Delegated Regulation 2016/1052/EU (each as in force in the UK from time to time, including where relevant pursuant to the Market Abuse (Amendment)(EU Exit) Regulations 2019).

The Company will make further regulatory announcements in respect of repurchases of Ordinary Shares as required by UK MAR and the AIM Rules, including as to whether those shares will be cancelled or are to be held in treasury.

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