15 January 2010
Trafalgar New Homes PLC
(The "Company" or "Trafalgar")
Trading Statement
The Company announces a trading statement relating to the quarter ended 31
December 2009. During the quarter the Company's only trade was to continue
'building out' the development contract it has with Wandle Housing Association
("Wandle") following the sale of the development land and part built houses at
Mitcham, Surrey which is anticipated to complete in the second quarter of 2010.
The financial position of the Company remains broadly as stated in the
Chairman's statement in the Company's interim results for the six months ended
30 September 2009, announced on 21 December 2009. There is no surplus cash
available and the Company's only sales related to the above mentioned Wandle
contract. The scheme will show a loss and there is a cash shortfall. The
Company's Chairman, Robert Mckendrick, is continuing to provide funding to help
the Company. The Board is in negotiations with various creditors to persuade
the parties to accept shares in lieu of cash.
The Directors of the issuer accept responsibility for this announcement.
For further information please contact:
Trafalgar New Homes plc 07836 722840
Andy Moore
SVS Securities plc 020 7638 5600
Ian Callaway/Alex Mattey
Trafalgar New Homes PLC