Trafalgar Property Group PLC Working Capital CLN (1250T)
22 Novembro 2021 - 07:29AM
UK Regulatory
TIDMTRAF
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 PROPERTY GROUP PLC
("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.
Enquiries:
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
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November 22, 2021 05:29 ET (10:29 GMT)
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