{"id":14836,"date":"2023-03-29T20:53:37","date_gmt":"2023-03-30T03:53:37","guid":{"rendered":"https:\/\/essential.construction\/news\/former-inland-homes-chief-to-invest-2-5m-in-cash-raise\/"},"modified":"2023-03-29T20:53:41","modified_gmt":"2023-03-30T03:53:41","slug":"former-inland-homes-chief-to-invest-2-5m-in-cash-raise","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/former-inland-homes-chief-to-invest-2-5m-in-cash-raise\/","title":{"rendered":"Former Inland Homes chief to invest \u00a32.5m in cash raise"},"content":{"rendered":"

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Applications to buy shares for 5p, just below the present market value, are now open until Thursday, and admission of the shares is expected on Friday.<\/p>\n

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Inland Homes said it would use proceeds to fund working capital requirements at the business.<\/p>\n

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Last week Inland announced it had delayed publishing results for a second time\u00a0 to allow new auditors PricewaterhouseCoopers LLP more time to go through the books.<\/p>\n

In January Inland increased predictions of pre-tax losses for the year to 30 September 2022 to \u00a391m.<\/p>\n

That was up on the previous estimate last September of \u00a337.1m as Inland launched a strategic review of the business led by financial advisors Lazard & Co which has terminated its engagement.<\/p>\n

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Inland said it was in advanced discussions to commission an independent report from a professional services firm to review certain related party issues, a precondition of the finalising its audit process, which is estimated to take a number of weeks.<\/p>\n

Trading in the house builder\u2019s shares will be suspended from 3 April until 2022 audited results are published.<\/p>\n

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