Inactive Instrument

Inland Homes plc

Equities

INL

GB00B1TR0310

Real Estate Development & Operations

Inland Homes subsidiary in breach of debt covenants

September 11, 2023 at 04:18 pm EDT

Inland Homes PLC - Southern England-focused brownfield developer, housebuilder and partnership housing company - Says it has advised HSBC Holdings PLC that it considers that its subsidiary, Inland Homes Developments Ltd, is in breach of certain historic and forward looking covenants in relation to a debt facility of GBP13.6 million provided to that company. The facility is guaranteed by Inland Homes.

The total amount drawn under this facility from HSBC to date is GBP11 million. Inland Homes says it is in active discussions with HSBC regarding waivers for the breaches and a further announcement will be made in due course.

Current stock price: 8.50 pence

12-month change: down 99%

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Inland Homes plc

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Inland Homes Seeks Modular Housing Arm Sale	23-09-17	CI
Inland Homes Informs HSBC About Subsidiary's Potential Breach of Loan Covenant	23-09-12	MT
Inland Homes subsidiary in breach of debt covenants	23-09-11	AN
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Inland Homes notes possible breach in loan with Inland ZDP	23-08-30	AN
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Inland Homes, Tesco Sign Lease for Cheshunt Lakeside Development in UK	23-07-20	MT
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Inland ZDP with no profit or loss, unchanged from a year ago	23-06-30	AN
Inland Homes says audit process to take longer than expected	23-06-19	AN
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Company Profile

Inland Homes plc is a United Kingdom-based specialist housebuilder and brownfield developer. The Company's principal activities is to acquire brownfield, mixed-use or residential land and to then seek achievement of planning consent for development. It acquires brownfield land in the South and South East of England principally for residentially led development schemes. Its segments include Land sales, Asset management fees, Contract income, House building, Rental income, Investment properties and Central support. The Land sales segment sells its own land assets, which have the benefit of planning permission to third parties. The Asset management fees segment operates as an asset manager for third-party landowners to provide land management and planning services. The Contract income segment constructs private or housing projects for a third-party landowner. The House building segment constructs private or affordable housing units for sale to individuals or private investors.

Sector

Real Estate Development & Operations

Calendar

2024-06-26 - Q2 2024 Earnings Release (Projected)

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