27th Mar 2008 17:54
Inland PLC27 March 2008 Inland PLC Purchase of own shares For immediate release 26 March 2008 Inland PLC ("Inland") announces that it has today purchased 1,000,000 of its ownshares into treasury at an average price of 28 pence. It holds no other sharesin treasury. Following these purchases, Inland has 161,150,059 shares in issue (excludingshares held in treasury). Inland is building up a portfolio of development properties, which are in areaswhere demand for housing exceeds supply, and has been making steady progresswith the planning approval process, in spite of the complexities of the UKplanning system. The board believes that its planning activities haveincreased the value of its development projects, which are expected to be soldto housebuilders over the medium term, even after allowing for currentexpectations for house prices. It is purchasing its own shares because themarket price is at a considerable discount to its net asset value per share. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
INL.L