Results of Court Hearing

RNS Number : 9821T

Inland Homes PLC

14 December 2011

 



For Immediate release

14 December 2011

Inland Homes plc

('Inland' or the 'Company')

Result of Court Hearing

At a hearing today, the Companies Court of the Chancery Division of the High Courts of Justice approved the reduction of capital of the Company ("Reduction of Capital"), details of which were contained in the circular to shareholders dated 27 October 2011.

The Order of the Court was registered by the Registrar of Companies today and the Reduction of Capital is therefore effective.

Inland Homes plc
Stephen Wicks, Chief Executive	Tel:  [phone]
Nishith Malde, Finance Director	Tel:  [phone]
finnCap Nominated Adviser & Broker
Matthew Robinson (Corporate Finance)	Tel:  [phone]
Rose Herbert (Corporate Finance)	Tel:  [phone]
Buchanan
Jeremy Garcia / Christian Goodbody	Tel:  [phone]

About Inland:

Inland identifies brownfield land in the South East of England with excellent potential for residential and mixed use development including commercial space.  Inland then enhances the land value by applying its expertise to obtain planning permission and subsequently sells the consented land onto house builders.  Inland's current portfolio consists of 10 sites with a total of 1,590 residential plots of which 1,109 are consented and 260,000 sq. ft of commercial space of which 152,000 sq. ft. is consented.  Inland's strategy is to secure large sites as principals or with joint venture partners.  Land disposals are core to fund operations and realise the value of existing sites.  The Company also develops a small part of large sites and constructs the infrastructure so as to provide serviced sites to house builders and create an attractive environment.

 

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