REG - Trafalgar PropertyGp - Working Capital CLN

Trafalgar PropertyAnnouncement

22/11/2021 10:30

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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 £200,000, by way of a convertible loan note ("CLN"). The CLN, of which
£80,000 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 700 000

 James Dubois

 SPARK Advisory Partners Limited - AIM Nominated Adviser  +44 (0) 203 368 3550

 Matt Davis

 Peterhouse Capital Limited - Broker                       +44 (0) 20 7409 0930
 Duncan Vasey/Lucy Williams

For further information visit  www.trafalgarproperty.group
(http://www.trafalgarproperty.group/)

 

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