Business
Diversification into Hydroponics
Diversification into Hydroponics.
About this update from Trafalgar Property Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 6935F\n Trafalgar Property Group PLC\n 11 March 2020\n \n \n \n \n 11 March 2020\n \n \n \n \n \n For immediate release\n \n \n \n \n \n THE INFORMATION COMMUNICATED IN THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU NO. 596/2014 (\"MAR\").\n \n \n \n \n \n TRAFALGAR PROPERTY GROUP PLC\n \n \n \n (\"Trafalgar\", the \"Company\" or \"Group\")\n \n \n \n \n Diversification into hydroponic vertical farming investment\n \n \n \n and\n \n \n Notice of General Meeting to increase authorities to allot shares\n \n \n \n \n Introduction\n \n Trafalgar (AIM: TRAF) announces that it is posting a circular to Shareholders today, outlining that it intends to add an additional business unit to operate alongside the Company's existing property development operations. The Company intends to invest in the hydroponic vertical farming sector. Hydroponics maximises yield per acre on a reduced physical footprint without soil. This form of food production has the potential to address:\n \n \n · \n increasing global population\n \n \n · \n insufficient available agricultural land\n \n \n · \n degraded soil quality\n \n \n · \n excessive forest clearance\n \n \n Trafalgar's existing property divisions' activities will continue. Trafalgar's group parent will be a holding company with hydroponic investments in a new division.\n \n \n In order to enable the raising of funds to implement this diversification, it is proposed to seek Shareholders' approval in a General Meeting to increase the current authorities to allot shares and to disapply statutory pre-emption rights as described.\n \n \n The General Meeting of the Company is to be held at 11.00 a.m. on 27 March 2020 at the offices of Peterhouse at 80 Cheapside, London EC2V 6EE. \n \n \n Information on the Company and its diversification\n \n \n The Company was incorporated in December 2001 and its Ordinary Shares have been traded on AIM since July 2013. The Company is the holding company for two property development divisions\n \n \n ·\n Trafalgar New Homes Limited which was acquired in 2011 and is a regional residential property developer focused on Kent, Surrey Sussex and M25 ring south of London. This division designs and builds its own site...