Business
Adviser Appointments, Fundraise & Board Changes
Adviser Appointments, Fundraise & Board Changes.
About this update from Trafalgar Property Group Plc
[{"type":"text","content":"\n \nRNS Number : 2198A Trafalgar Property Group PLC 28 May 2019 \n\nPrior 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.\n \n28 May 2019\n \nTRAFALGAR PROPERTY GROUP PLC\n(\"Trafalgar\", the \"Company\" or \"Group\")\n \nAdviser Appointments, Equity Fundraise & Board Changes\n \nAppointment of Advisers\n \nTrafalgar (AIM: TRAF), the AIM quoted residential and assisted living property developer, announces the appointment of SPARK Advisory Partners Limited (\"SPARK\") as its Nominated Adviser.\n \nTrafalgar is also pleased to announce the appointment of Peterhouse Capital Limited (\"Peterhouse\") as its Sole Broker.\n \nEquity Fundraise\n \nThe Company announces that it has raised, in aggregate, £250,000 (before expenses), through a placing of, in aggregate, 62,500,000 new ordinary shares of 0.1 pence value each in the capital of the Company (\"Ordinary Shares\") at an issue price of 0.4 pence per share (the \"Issue Price\") (the \"Fundraising\") via the Company's broker, Peterhouse.\n \nThe Fundraising is conditional on admission of the new Ordinary Shares to trading on AIM (\"Admission\") and, following Admission, the new Ordinary Shares will represent, in aggregate, approximately 12.8 per cent. of the Company's enlarged issued share capital.\n \nThe new Ordinary Shares will be fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares. The Issue Price represents a discount of approximately 33.3 per cent. to the closing mid-market price on AIM of 0.6 pence per Ordinary Share on 24 May 2019.\n \nBroker Warrants\nIn addition, in connection with the Placing, the Company has agreed to award Peterhouse warrants over 6,250,000 Ordinary Shares valid for one year from the date of issue, which shall give Peterhouse the right to acquire 6,250,000 Ordinary Shares of the Company at the Placing Price.\n \nUse of Proceeds\nThe net proceeds from the Fundraising will be utilised for funding new and existing development projects and will also provide additional ...