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Inland Homes plc announced on 30 August 2023 that it is considering possible provisions against certain asset values in its accounts with its auditors. The company stated that the amounts of any such provisions, which have not yet been determined, appear likely to trigger a breach of the asset cover covenant applicable to the loan between Inland ZDP PLC and Inland Homes PLC.
| Date | 30 Aug 2023 |
| Time | 09:59:18 |
| Category | Miscellaneous |
| ID | 8089K |
Inland Homes plc
('Inland Homes' or the 'Group')
Possible breach of loan covenant
Inland Homes plc (AIM: INL), the brownfield developer, housebuilder and partnership housing company with a focus on the South and South East of England, is considering possible provisions to be made against certain asset values in its accounts with its auditors. The amounts of any such provisions, which have not yet been determined, appear likely to trigger a breach of the asset cover covenant applicable to the loan between Inland ZDP PLC and Inland Homes PLC.
Enquiries
Inland Homes plc: Tel: 44 (0)1494 762450
Jolyon Harrison, Chief Executive Officer
Panmure Gordon (UK) Limited Tel: 44 (0)20 7886 2500
Dominic Morley / James Sinclair-Ford (Corporate Advisory)
Tom Scrivens (Corporate Broking)
The information contained in this Announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (Regulation 596/2014), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). The person responsible for arranging for the release of this announcement on behalf of Inland Homes plc is Jolyon Harrison, Chief Executive Officer.