Inland Homes plc
Proposed Share Buyback Programme
Inland Homes plc (AIM: INL) (the "Company") today announces that it intends to commence a share repurchase programme up to a maximum of one million ordinary shares of 10 pence each ("Ordinary Shares") which amounts to 0.5% of the Ordinary Shares in issue at the date of this announcement (excluding treasury shares) (the "Programme").
Any purchase of Ordinary Shares made following this announcement will be carried out on the open market during the period commencing on 11 October 2018 and ending not later than 31 December 2018 and executed in accordance with the Company's general authority to make market purchases of Ordinary Shares.
The Proposed Share Buyback is expected to exceed the 25% limit of the average daily trading volume laid down in Article 3 of Commission Delegated Regulation (EU) No 2016/1052. The Company will operate within the remaining safe harbour provisions set out in the Market Abuse Regulation 596/2014.
The purpose of the share repurchase programme is to reduce the Company's share capital. The shares purchased by the Company will be held in treasury pending cancellation or re-issue.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.
Inland Homes plc:
Tel: 44 (0) 1494 762450
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Gary Skinner, Managing Director
Panmure Gordon (UK) Limited
Tel: 44 (0) 20 7886 2500
Tel: 44 (0) 20 3727 1000
Notes to Editors:
Incorporated in the UK in 2005, Inland Homes plc is an AIM listed specialist housebuilder and brownfield developer, dedicated to achieving excellence in sustainability and design.
Inland Homes acquires brownfield land in the South and South-East of England principally for residentially led development schemes. The business then enhances the land value by obtaining planning permission, before building open market and affordable homes or selling surplus consented land to other developers to generate cash.
The Company is committed to extensive public and community consultation in order to ensure that, where possible, local community needs and objectives are met.
Inland's aim is to create sustainable communities and homes which set a benchmark for all future developments in the South of England. The Company is always looking for brownfield sites without planning permission for future development.
For further information, please visit the Inland Homes website at www.inlandhomes.co.uk.