Trafalgar Property Group PLC Further Update: Camberley Development Site (8660E)
09 July 2019 - 6:31PM
UK Regulatory
TIDMTRAF
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 9(th) 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 GBP230,000 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 +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
Yellow Jersey PR Limited +44 (0) 7747 788
Charles Goodwin 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
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contact rns@lseg.com or visit www.rns.com.
END
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