INLAND ZDP PLC

Capital/Financing Update • Jun 2, 2017

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RNS Number : 0632H

Inland ZDP PLC

02 June 2017

Inland ZDP PLC

ZDP Share Accrued Value and Asset Cover

2 June 2017

The Board of Inland ZDP PLC is pleased to announce that as at 31 March 2017, Inland Homes plc had complied with all its covenants under the Loan Note, Contribution Agreement and related security documentation.

As at 31 March 2017, each ZDP Share had an accrued Capital Entitlement of 135.15 pence.

The Cover Ratio and Gearing Ratio as at 31 March 2017 have been calculated as follows:

Cover Ratio (Assets / Financial Indebtedness)                                11.8 times

Gearing Ratio                                                                                       7.4 per cent.

Capital Entitlement, Assets, Financial Indebtedness, Cover Ratio and Gearing Ratio have been determined as set out in the Prospectus published by Inland ZDP PLC on 14 December 2012, which is available at: http://www.inlandhomes.co.uk/inland-zdp-plc/.

The definition of Financial Indebtedness and the calculation of the Gearing Ratio are stated net of cash balances and exclude liabilities falling due after 10 October 2019, being six months after the redemption date of the ZDP Shares.  As at 31 March 2017, the Inland Group had cash balances of c£1.2 million and, apart from the liability to holders of ZDP Shares, had only c£0.9 million of indebtedness repayable before 10 October 2019.  Accordingly the above Cover Ratio and Gearing Ratio show substantial cover and very low gearing respectively.

Enquiries:

Inland ZDP PLC

Nishith Malde FCA                                                                   Tel: 01494 762450

This information is provided by RNS

The company news service from the London Stock Exchange

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