Business
Issue of Equity
Issue of Equity.
About this update from Trafalgar Property Group Plc
[{"type":"text","content":"\n \n\n17 August 2011\n\n Trafalgar New Homes PLC\n\n (The \"Company\")\n\n Issue of Equity\n\nFurther to the announcements made on 16 November 2010 and 30 November 2010, and the proposal by the\nAdministrators for a Company Voluntary Arrangement of the Company for consideration by Creditors and\nShareholders (the \"Proposal\"), the Company announces that 12,000,000 ordinary shares of 1p each (\"Ordinary\nShares\") were issued on 8 August 2011 at an issue price of 1p each, in connection with the Proposals (the \"CVA\nShares\").\n\nOf the aforementioned 12,000,000 CVA Shares, 10,000,000 Ordinary Shares have been allotted to creditors in\nsatisfaction of outstanding debts, and 2,000,000 Ordinary Shares have been allotted to Central Corporate\nFinance LLP at an issue price of 1p each, in relation to work performed on the Company Voluntary Arrangement.\nCentral Corporate Finance LLP has also been allotted 935,395 Ordinary Shares at an issue price of 1p each, in\nsatisfaction of outstanding debts, which are included in the aforementioned 10,000,000 Ordinary Shares above.\nCentral Corporate Finance LLP is controlled by Andrew Moore, who is a Director of the Company, and as such the\nallotment of 2,935,395 Ordinary Shares to Central Corporate Finance LLP constitutes a related party\ntransaction.\n\nFollowing the issue of the CVA Shares, Andrew Moore, through Central Corporate Finance LLP is now interested in\n2,935,395 Ordinary Shares, representing 14.14% of the voting rights in the issued ordinary share capital of the\nCompany.\n\n3,578,467 of the CVA Shares have been issued to Robert McKendrick at an issue price of 1p each, who is a\nDirector of the Company, in satisfaction of outstanding debts. As such the allotment of 3,578,467 CVA Shares\nto Robert McKendrick constitutes a related party transaction. Following the issue of the CVA Shares, Robert\nMcKendrick is now interested in 5,592,467 Ordinary Shares, representing 26.94% of the voting rights in the\nissued ordinary share capital of the Company.\n\n986,293 of the CVA Shares have been issued to SVS Securities plc, in satisfaction of outstanding debts.\nFollowing the issue of the CVA Shares, SVS Securities plc is now legally and beneficially interested in\n1,335,087 Ordinary Shares, representing 6.43% of the voting rights in the issued ordinary share capital of the\nCompany.\n\nThe...