Inland PLC
27 March 2008
Inland PLC
Purchase of own shares
For immediate release
26 March 2008
Inland PLC ('Inland') announces that it has today purchased 1,000,000 of its own
shares into treasury at an average price of 28 pence. It holds no other shares
in treasury.
Following these purchases, Inland has 161,150,059 shares in issue (excluding
shares held in treasury).
Inland is building up a portfolio of development properties, which are in areas
where demand for housing exceeds supply, and has been making steady progress
with the planning approval process, in spite of the complexities of the UK
planning system. The board believes that its planning activities have
increased the value of its development projects, which are expected to be sold
to housebuilders over the medium term, even after allowing for current
expectations for house prices. It is purchasing its own shares because the
market price is at a considerable discount to its net asset value per share.
This information is provided by RNS
The company news service from the London Stock Exchange
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