Inland Homes Share Discussion Threads

[geckotheglorious] 31/3/2023 13:19

Sbb1x

That it is! :)

This is one of those weekends where I'm glad to be "Out of it"

Have been tempted a few times as it collapsed. But thought better of it.

[sbb1x] 31/3/2023 13:17

So today is last day of trading before suspension on Monday at 7.30

[geckotheglorious] 31/3/2023 13:16

Sbb1x

3rd April suspension, yes.

Quite a risk which is why I'd be selling into the rise IF I had bought.
I didn't. Too much "risk" due to the unknowns

But good luck to all holders.

[sbb1x] 31/3/2023 13:15

Being suspended, you know it might never trade again

[geckotheglorious] 31/3/2023 13:10

Wowsers.
Quite a wonder watching this.
2 days ago around 5 to 5.5p ish, now closing in on 10p Rights issue price.
Who'd a thunk it eh!

[sbb1x] 31/3/2023 09:46

Will buy if it ever reopens up after suspension

[spob] 31/3/2023 09:45

Davidosh

Not me, but would be interested to hear your thoughts afterwards.

[sbb1x] 31/3/2023 09:45

Been watching this like a hawk.Can't bring myself to buy to many companies going /gone to 0Amgo, its, revb, ince, mcl , mcls others too that I've forgotten off top of my head

[davidosh] 31/3/2023 09:27

This additional shareholding also gives more control over the outcomes.

We need more colour on what has happened over the last 18 months or so.

I am on my way to the Agm at 11am this morning. Are any other shareholders attending?

[cayenne45] 31/3/2023 08:59

I wouldn't put too much weight on Stephen Wicks putting money in because if he didn't in all probability the thing would be insolvent so he'd lose his equity. Investments should not be made solely on looking at these kinds of actions and if they are, it should be accepted that at best outsiders have only partial knowledge.

[grahamg8] 31/3/2023 07:40

Report on strategic review due today. The timing of the capital raise seems to have been carefully selected. Do I detect a bit of insider dealing, surely not.

[geckotheglorious] 30/3/2023 16:14

"Result of Direct Subscription"

Announces that it has closed the direct subscription offer announced on 29 March 2023 (the "Subscription"), having raised £2.5 million with the issue of 25 million new Ordinary Shares ("Subscription Shares") at a price per Subscription Share of 10 pence (the "Subscription Price"), being the nominal value of the Company's ordinary shares ("Ordinary Shares"). The net proceeds of the Subscription will be used to fund working capital requirements within the Company.
 
Application has been made to the London Stock Exchange for the admission of the Subscription Shares to be admitted to trading on AIM. Admission is expected to take place at 8.00 a.m. on 31 March 2023. The Subscription is conditional, inter alia, upon Admission becoming effective.
 
The Subscription Shares will, when issued, be credited as fully paid and rank pari passu with the existing Ordinary Shares, including, without limitation, the right to receive all future dividends and distributions declared, made or paid after the date of issue of the Subscription Shares.
 
Related party participation in the Subscription
 
Stephen Wicks, a founder of the Company, former CEO and the Company's major shareholder, has agreed to participate in the Subscription for a total of 25 million shares at the Subscription Price. Due to the fact that Stephen Wicks was a director of the Company in the last 12 months, he is treated as a related party of the Company for the purposes of the AIM Rules. The Directors consider, having consulted with the Company's nominated adviser, that the terms of the subscription by Stephen Wicks are fair and reasonable insofar as the Company's shareholders are concerned. 




So £2.5m of the £4.6m sought

"Inland is pleased to announce that it has today launched a direct subscription offer (the "Subscription") for up to £4.6 million by the issue of up to 46,000,000 new Ordinary Shares ("Subscription Shares") at a price per Subscription Share of 10 pence"

Stephen Wicks subscribes to 25m.

Shares get suspended on 3rd April, yet he joins the subscription.

Clearly once these "third party issues" are out of the way it's back to some kind of normal?

[okosling] 29/3/2023 23:22

Cerrito,
Like you, I wouldn't like to buy more Ordinary shares in the market, even sub-10p, but I suggest that the ZDPs are now a good bargain if they can be obtained not too much above today's price when the market opens in the morning. The Ordinary shares should be worthless if the ZDPs can't be repaid in full, and Mr Wickes obviously thinks they will be repaid in full. The risk-reward on them looks good.

[cerrito] 29/3/2023 22:49

Your logic is impeccable okosling.
I note that INL has 224m shares currently outstanding so that his new 25m shares would give him 12pv of the company.
Mr Wickes is one of the very few people who have the knowledge of what is going on.
If one had the time to unpick this rather complicated company and can buy in the market sub 10p my gut tells me that would be a good deal but not sure if I have the courage of my convictions.
Also we need to brace ourselves for this being suspended for at least 6 weeks??
Rather odd language to say that Lazard had terminated the contract if indeed the mission had been accomplished.
Still surprised and I guess comforted that Panmure, who regard themselves as a class outfit and who exited from Wandisco a day before that was suspended, has not walked given the turmoil at INL.

[okosling] 29/3/2023 21:39

bsdjj wrote this morning in post #5389:
Who is going to pay 10p when it looks like you can buy as many as you like at 6p!

but this is not true. Any attempted big purchase in the market would move the price, probably move it by a lot. So if the founder's knowledge of the company tells him that the shares are absurdly cheap, so that he wants to buy an additional 25 million shares, he has probably figured that he would only get a tiny fraction of that at 6p per share, and in total may well have to pay £3 million to get 25 million shares. It makes sense for him to pay 10p per share, but it wouldn't make sense for you or me to buy at 10p, because you or me could have bought as many as we might want at 6p, because we would be buying (say) 0.1 million shares. It's entirely different.

[poolestudio] 29/3/2023 20:50

A plan so cunning you could strap a tail on it and call it a weasel. The general public will not take up the rights but the major shareholders will, acquiring a very large chunk of the company at a knock-down price. May be with a view to taking the company private. And there will be massive dilution for those who do not buy more. I dont think this company is going bust at all. We shall see. Takes big cahunas to buy more though, the last few months has been like watching a train crash in slow motion.

[arthur_lame_stocks] 29/3/2023 17:34

Maybe if the company doesn't get some more working capital it'll go broke and the assets will be sold dirt cheap in a fire sale and Wickes will lose all of his investment which will be worth quite a substantial sum if something close to NAV can be achieved.

[muffster] 29/3/2023 17:30

Can someone explain this is being offered? Buying shares at double the current price seems mad....any thoughts

[robertspc1] 29/3/2023 17:23

Hmmm founder putting in 2.5m at 10p versus current share price of 5p. The plot thickens

[grahamg8] 29/3/2023 17:14

Assuming no-one else is crazy enough to buy shares at twice their market price Wicks will be lifting his stake from around 8% to around 17%. This doesn't seem to be enough to take control, so what is he up to? I don't see him as a philanthropist parting with £2.5m just to keep his baby afloat. Expect some sort of corporate action to follow.

[farnesbarnes] 29/3/2023 09:20

If ever there is a technical analysis lesson it is simple Dow theory. Once a 12 month low is retested and broken, sell. Generally nothing good comes form retracing 12 month lows.

Based on the 2 year chart in the header, punters would have got out at 43p (ish) circa early March 22. This support broke and was briefly retested end of May 22. Textbook.

Genuinely sorry for those who have held on. Speaks volumes for following news from companies and believing the narrative and numbers, but the charts never lie.

[cc2014] 28/3/2023 08:40

And there's the issue. 3 more days to decide whether to sell and take 5p or wait and see if it ever comes back from suspension with a potential outcome of zero.

Clearly INL can't be in a great position as it's thinking about a fund raise, which is intersting since it was buying back shares only a few months ago.

[sbb1x] 27/3/2023 09:48

Suspension 3rd april

[neo26] 26/3/2023 22:30

Looks like no placing at 10p then. :)