Inland Homes Share Discussion Threads

[cc2014] 05/7/2023 07:37

I get tired with these RNS's

It is difficult to dispute but why do I not believe the new loan is on much more favourable terms than the last one. How can that even be possible given the way interest rates have gone up and the deteriortion in the balance sheet. I guess the increase in interest rate is not part of the calculation if you assess terms based on SONIA + but even so "much more favourable terms". I suspect my definition of "much more" is quite different than the Boards

[cerrito] 30/6/2023 14:38

Went through today 's results from INLZ in which I have a modest holding to see if I should buy more and read the following on the increased debt position of INL
Quote
This led to a reduction of net debt from GBP152.3m as at 30 September 2019 to GBP86.8m as at 30 September 2022. The Inland Group's net debt was GBP103.4m as at 31 March 2023
Unquote

[cerrito] 17/6/2023 18:51

What to me is sub optimal is that we do not have a permanent CEO. I appreciate that Wicks is a consultant and it would be difficult to appoint a permanent CEO given the INL situation.
I trust that the 2 NED's are taking a hands on role and if they get higher fees,so be it.

[spob] 16/6/2023 18:27

Yeah the person doing the audit must be doing about 10 minutes per month

[peter27] 16/6/2023 16:28

I vote for June 2024

[spob] 16/6/2023 15:58

Audit going to take longer

How much longer ?

[arthur_lame_stocks] 08/6/2023 17:45

I wonder if the results will be out soon? As far as I can see the latest guidance was that the audit would be completed in June. It appears that the housing market is finally coming off the boil as interest rates keep going up, it may be that the NAV has further to fall.

I don't own any of the ords, but I did buy some ZDP's after the price collapsed in what I choose to believe is a calculated gamble so I await the results with interest.

[brownie69] 02/5/2023 11:55

Are we looking at this being suspended for a couple of months or so until the audit is completed?

[cielos] 27/4/2023 09:41

The placing money will help to cut the debt burden, but needed plenty of sales ahead to cut the debt further as is still very high.

[skyship] 24/4/2023 06:33

There were two subscriptions. He took stock in the first:

[davidosh] 23/4/2023 19:10

I thought SW had subscribed for lots of shares or was he not able to take them in the placing?

[skyship] 23/4/2023 08:47

bsdjj - that link to REACT is behind a paywall. Could you possibly post the content?

davidosh - the 3 x Holdings RNSs are as a result of the placing; including the %age reduction by Stephen Wicks (No. of shares remaining constant)

[geckotheglorious] 20/4/2023 19:43

From the Rights/Subscription issue I presume Daviddosh.

[davidosh] 20/4/2023 15:53

The shares are suspended so how did they acquire about 5% each whilst they are not traded?

[bsdjj] 20/4/2023 13:24

hxxps://reactnews.com/article/land-promotion-business-and-wife-of-ex-gleeson-ceo-build-stakes-in-inland-homes/

[cayenne45] 12/4/2023 06:40

Re Fixed price contracts, this is not uncommon especially if the client is commercially savvy.
Just read construction news etc and many builder/developer types have seen soaring turnover but losses, in fact one today trebled turnover and posted their first ever loss
The point is that’s commercial reality and despite what some might like to portray it, is totally different than connected party activities where an unfair advantage can be had for one side or the other by reason of position.
Mr Wicks standing up and declaring support for the company is wonderful but sadly in this instance, the company and small shareholders are two different entities because the company may survive but the shareholders get wiped out.
This is truly a shame because if INL could not get traction in an effectively zero interest rate period how at current rates will it grow.
Again it only goes to confirm in AIM that only invest what you can afford to lose because they’re all multibaggers until they’re not.
The investment press pushed this company but I doubt they really understand the mechanics of their business model

[cerrito] 11/4/2023 12:38

What with INL and WAND, FRP Advisory are busy boys and girls.

[cc2014] 11/4/2023 12:19

Ah - so PWC can't do the audit because the extent of the alleged related party transactions isn't known so know INL have to pay an independent party to do it.

Or perhaps if I'm generous the Board won't take the information they have at face value and want an indeependent review so they can be sure it's ok.


what does other relevant matters mean?

Audit could be completed in around 2 months time...

[davidosh] 06/4/2023 15:51

I attended and there were about fifty shareholders there including Steve Wicks who stood up from the floor at the end to explain what he thought had happened and to say he will continue to put money in to support the company.

It does seem that the company have been stuffed by having fixed pricing contracts at the point where costs have been rising out of control and leaving them with huge losses. Not sure why the contracts did no have an element of negotiation built in to cover unforeseen increases but that is for the lawyers to look at.

The new directors have their work cut out and could answer very little.

[johnsoho] 06/4/2023 13:09

Any views of what value, if any, might be left in INL shares

[brownie69] 03/4/2023 14:19

FAO DavidDosh.
Any news from the AGM?
Thanks.

[spob] 03/4/2023 08:20

Perhaps the only person there was the finance director.

[cerrito] 02/4/2023 21:36

I see that voter turnout at the AGM was 25pc, which is actually higher than I would have thought given the shareholder register

Did any of you make the AGM??

[sbb1x] 31/3/2023 14:28

Looks like I've picked up a down Ticker lolIt's very simple last day of guaranteed trading is today until 4.30pm.

[sbb1x] 31/3/2023 13:12

You might do very well here, taken from a recent RNSThe Company intends to request a restoration of trading in its shares on publication of its FY22 audited results.