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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Trafalgar Property Group Plc | LSE:TRAF | London | Ordinary Share | GB00BMGS6031 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0425 | 0.04 | 0.045 | 0.0425 | 0.0425 | 0.0425 | 0.00 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Agents & Mgrs | 18k | -844k | -0.0021 | -0.19 | 160.34k |
From Apr 2019 to Apr 2024
TIDMTRAF
RNS Number : 4197Z
Trafalgar Property Group PLC
31 August 2018
31 August 2018
Trafalgar Property Group plc
(the "Company")
Director loan
Trafalgar Property Group plc (AIM: TRAF), the AIM quoted residential and assisted living property developer, today provides an update on its director loan from Chris Johnson, Chief Executive, to the Company's subsidiary, Trafalgar New Homes Limited (the "TNH Loan").
The TNH Loan was entered into on 27 June 2013 for working capital purposes. Under the terms of the TNH Loan, Mr Johnson is entitled to receive interest of 5% per annum, payable annually in arrears and Mr Johnson has agreed the interest charge would only apply on amounts drawn up to GBP2 million. The outstanding balance on the TNH Loan currently stands at GBP2,170,657 and was repayable by 31 August 2018.
Mr Johnson has today agreed to extend the repayment date of the TNH Loan to 30 September 2019 and waive the interest payments due for the financial years ended 31 March 2018 and 31 March 2019, which would have totalled GBP200,000.
TNH will make repayments or drawings on the TNH Loan periodically, depending on its working capital requirements and Mr Johnson has confirmed he will continue to support the Company's working capital requirements as needed.
These amendments to the TNH Loan are a related party transaction under the AIM Rules for Companies. Accordingly, the independent directors of the Company consider, having consulted with Allenby Capital Limited, the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
Enquiries:
Trafalgar Property Group plc Christopher Johnson +44 (0)1732 700 000 Allenby Capital Ltd - Nominated Adviser and Broker Jeremy Porter/James Reeve +44 (0)20 3328 5656 Yellow Jersey PR Limited Charles Goodwin / Abena Affum +44 (0)7825 916 715
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
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(END) Dow Jones Newswires
August 31, 2018 05:52 ET (09:52 GMT)
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