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Update regarding Camberley Development Site

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By LSE RNS

RNS Number : 3879D
Trafalgar Property Group PLC
25 June 2019
 

 

 

TRAFALGAR PROPERTY GROUP PLC

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

 

Update regarding Camberley Development Site

 

On 24 April 2019, the Company announced that Trafalgar Retirement+ Limited, through its new wholly owned subsidiary, Randell House Limited ("Randell House"), had exchanged contracts to acquire its first site for the development of an assisted living scheme for £2.3 million (the "Acquisition").

 

Negotiations with lending institutions for the loans required for the completion of the Acquisition are taking longer to finalise than expected. Should these negotiations not conclude successfully, the Company is in receipt of an offer of bridging finance from a private finance company, and is sourcing further funding, both internal and external, in order to complete the Acquisition prior to the 9th July 2019, being the extended final date for completion under the terms of the Contract.

 

If the appropriate funding cannot be finalized, the Company would lose the non-refundable deposit of £230,000 paid on exchange of Contracts.

 

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

 


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