For immediate release 31 December 2008 In House Group Plc Total Voting Rights For the purposes of the Disclosure and Transparency Rules of the Financial
Services Authority, the Board of In House Group Plc (the "Company") is required
to notify the market of the following: As at the date of this announcement, the Company's issued share capital
consists of 2,860,324,066 ordinary shares with a nominal value of 0.001p each,
with voting rights ("Ordinary Shares") and 645,589,628 deferred shares of
0.249p each ("Deferred Shares"). The Deferred Shares have no voting rights, are
not admitted to trading on AIM and are only entitled to negligible
participation in the dividends and return of capital in the Company. The
Company does not hold any Ordinary Shares in Treasury.
Therefore the total number of Ordinary Shares in the Company with voting rights
is 2,860,324,066.
The above figure of 2,860,324,066 Ordinary Shares may be used by shareholders
in the Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the Financial Service
Authority's Disclosure and Transparency Rules.
NOTES TO EDITORS In House Group plc operates its business in three main areas: Portfolios - which are ideally acquired on a self financing basis in that
funding has been arranged to cover the full cost of each acquisition with
anticipated rental income covering a substantial part of the interest costs of
the prospective debt financing for each Portfolio. The group's expertise is in
turning around distressed property and obtaining secure tenancies to elevate
property values and income streams. In some cases, the Company is able to agree
five year letting contracts with government appointed agencies, thus providing
security of income. As Portfolios are only being acquired where rents largely
cover ongoing costs (including interest), this enables the properties to be
held until the target price for each of the properties in the Portfolios is
obtained.
Property Broking - The Group has over £450 million of property for sale on the
Property Broking pages of its website. Instructions are either taken directly
from vendors, for which the Company receives between 0.25% and 2% commission on
completion of a sale, or through joint agency agreements with a number of other
agents where commission is split when a sale is agreed. The Group aims to have
a comprehensive and diverse investment property brokerage covering both
residential and commercial sales stock. Where portfolios are acquired by the
Group they will be immediately placed for sale through the Property Broking arm
on a break-up basis in order to generate income and cash flow for the Group.
Property Lettings Management - The group continues to manage properties for a
number of landlords and is actively looking for new instructions from property
owners and landlords. The Company is also looking to increase properties under
management with referrals from professional connections (for which a fee will
be paid) and from the acquisition of other lettings businesses. In House group
canvasses debt agencies for repossessed properties and is offering a turn key
service to these companies to let and manage properties whilst disposal is
sought. It is also intended that the lettings management arm of the Group will
take over the lettings management of the Portfolios. Whilst portfolios are
prepared for sale on a break-up basis, it aims is to retain the management of
these properties in the interim period.
For further information please contact: Marcus Cassidy, CEO, In House Group Plc on 0845 061 9999 Contact Email
mcassidy@ihgroup.co.uk Sergio Pani, Ulysses - on 0845 3452 705 sergio@ulyssesmarketing.com Roland Cornish, Beaumont Cornish Limited, 0207 628 3396 END
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