TRAFALGAR PROPERTY GROUP PLC

Capital/Financing Update • Jul 9, 2019

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 8660E

Trafalgar Property Group PLC

09 July 2019

Defined terms used but not defined in this announcement have the same meanings as set out in the Update regarding Camberley Development Site announcement released on 25 June 2019.

TRAFALGAR PROPERTY GROUP PLC

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

Further Update regarding Camberley Development Site

Further to the announcement of 25 June 2019, Trafalgar (AIM: TRAF), the AIM quoted residential and assisted living property developer, announces that it has not been possible in the required timeframe to secure the full funding to acquire its assisted living development site Camberley. 

Negotiations with lending institutions had been taking place, however terms could not be definitely agreed before the 9th July 2019 deadline required to complete the acquisition of the site. As such, the Company announces that it has now lost the non-refundable deposit of £230,000 paid on exchange of Contracts.

The Company remains focused on pursuing its retirement home strategy. It's residential subsidiary, Trafalgar New Homes is pleased to announce that planning has been lodged for its Epsom and Ashtead schemes and expects to submit planning for its Send Barns scheme later this week. Should planning be approved, the Company will seek the necessary development funding.

Commenting James Dubois, Chairman of Trafalgar said:

"Whilst it is regrettable that the Company has not been able to secure appropriate funding for the Camberley site, the Board remains absolutely committed to pursuing its strategy in retirement homes and is actively targeting other prospective sites for development".

Enquiries:

Trafalgar Property Group plc James Dubois	+44 (0) 7899 995 421
SPARK Advisory Partners Limited - AIM Nominated Adviser Matt Davis	+44 (0) 203 368 3550
Peterhouse Capital Limited - Broker	+44 (0) 20 7409 0930
Duncan Vasey/Lucy Williams
Yellow Jersey PR Limited Charles Goodwin	+44 (0) 7747 788 221

Prior to publication, the information contained within this announcement was 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, this information is now considered to be in the public domain.

Notes to Editors:

Trafalgar Property Group plc

For further information visit www.trafalgarproperty.group

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

FURCKFDBKBKBFOK