TRAF Trafalgar Property Group Plc

TIDMTRAF

RNS Number : 7865K

Trafalgar Property Group PLC

30 August 2019

TRAFALGAR PROPERTY GROUP PLC

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

Further Refinancing of Debt

Trafalgar (AIM: TRAF), the AIM quoted residential and assisted living property developer, is pleased to announce that it has secured financing from Susan Johnson, the wife of Chris Johnson, a 38.31% shareholder and former director of the Company (the "Facility").

The Company has been seeking the necessary funding from third parties but was unable to do so in the necessary timeframe, the Facility is therefore the only source of current funding available to it.

Under the Facility, Susan Johnson has provided a loan of GBP380,000 at an interest rate of 5 per cent per annum repayable on 28 February 2020. The proceeds of the Facility will be used to repay the Company's current loans on flats 3 and 5 Burnside Close, upon which the Facility will be secured on.

Related Party Transaction

As Susan Johnson is the wife of Chris Johnson, the Refinancing is regarded as a related party transaction under the AIM Rules. The directors of the Company, having consulted with SPARK Advisory Partners Limited, the Company's nominated adviser, consider that the terms of the Refinancing are fair and reasonable insofar as Trafalgar's shareholders are concerned.

Enquiries:

 
 Trafalgar Property Group plc                       +44 (0) 7899 995 
  James Dubois                                       421 
 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 
 

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

MSCBLGDICBXBGCG

(END) Dow Jones Newswires

August 30, 2019 12:22 ET (16:22 GMT)

Trafalgar Property (LSE:TRAF)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024

Trafalgar Property (LSE:TRAF)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024