RNS Number : 1250T

Trafalgar Property Group PLC

22 November 2021

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.


("Trafalgar", the "Company" or "Group")

Working Capital CLN

Trafalgar (AIM:TRAF), the AIM quoted residential and assisted living property developer, announces that Christopher Johnson has agreed to lend the Company up to GBP200,000, by way of a convertible loan note ("CLN"). The CLN, of which GBP80,000 will be drawn immediately, will be used for general working capital purposes. The CLN has a redemption date of 30 November 2022. All drawdowns against the CLN facility are at the full discretion of Christopher Johnson.

In the event that the CLN is drawn in full, it will be convertible into 28,571,427 New Ordinary Shares at 0.7p per ordinary share. The CLN is unsecured, non-transferable with nil coupon and can be converted at any time by Mr Johnson, subject inter alia to his entire holding being less than 29.99 per cent.

Related Party Transaction

As Christopher Johnson is a substantial shareholder in the Company and a director of one of its subsidiaries (Trafalgar New Homes Ltd), the issue of the CLN constitutes a related party transaction under Rule 13 of the AIM Rules for Companies. The Directors of Trafalgar all of whom are independent in respect of the related party transaction, consider, having consulted with SPARK, the Company's Nominated Adviser, that the issuance and terms of the CLN are fair and reasonable insofar as the Company's Shareholders are concerned.


  Trafalgar Property Group plc                      +44 (0) 1732 700 
   James Dubois                                      000 
 SPARK Advisory Partners Limited - AIM Nominated 
  Adviser                                           +44 (0) 203 368 
  Matt Davis                                         3550 
                                                     +44 (0) 20 7409 
 Peterhouse Capital Limited - Broker                  0930 
 Duncan Vasey/Lucy Williams 
   For further information visit   www.trafalgarproperty.group 

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(END) Dow Jones Newswires

November 22, 2021 05:29 ET (10:29 GMT)

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