12th Apr 2023 18:17
(Alliance News) - Inland Homes PLC on Wednesday said it has launched a second direct subscription offer for up to GBP2.5 million by the issue of up to 25.0 million new shares at a price per subscription share of 10 pence.
Inland Homes is a Buckinghamshire, England-based brownfield site developer, housebuilder and regeneration specialist.
Trading in the company's shares were suspended on April 3 due to Inland not publishing its annual accounts in accordance with AIM Rule 19.
The price represents a premium of 18% to the closing price of the shares on March 31 of 8.5 pence per share. On March 30, the company said it had raised GBP2.5 million through a subscription of 25.0 million shares.
The net proceeds of the subscription will also be used to fund working capital requirements within the company.
The subscription is now open for applications until Thursday.
Earlier in April, Inland said it expects to complete audit of its annual report and accounts for the financial year that ended September 30, 2022 in June 2023.
By Sophie Rose, Alliance News reporter
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