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On 3 June 2024, Trafalgar Property Group PLC announced it has entered into a loan agreement with Ecap Esports Ltd. Ecap Esports Ltd has agreed to loan Trafalgar £250,000, which bears no interest. The proceeds will be ringfenced to cover costs associated with the recently announced proposed reverse takeover, should the transaction not occur.
| Date | 3 Jun 2024 |
| Time | 10:56:41 |
| Category | Acquisitions and alliances |
| ID | 8679Q |
Trafalgar Property Group PLC
3 June 2024
TRAFALGAR PROPERTY GROUP PLC
("Trafalgar" or the "Company")
Trafalgar enters into a loan agreement
Trafalgar (AIM:TRAF), the AIM quoted residential and assisted living property developer, announces it has today entered into a loan agreement with Ecap Esports Ltd ("Ecap Esports"). Ecap Esports has agreed to loan the Company the sum of £250,000, the proceeds of which will be ringfenced to cover costs associated with the recently announced proposed reverse takeover, should the transaction not occur. In the event the proposed transaction does not complete, any funds remaining following payment of all accrued transaction fees shall be returned to the lender. The loan bears no interest.
Further to the announcement of 29 May 2024, shareholders should continue to note that the proposed acquisition is still under discussion and subject to a significant number of pre-conditions, including diligence, and there can be no certainty therefore at this time that the proposed acquisition will proceed as envisaged.
Ends
Enquiries:
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Trafalgar Property Group Plc Paul Treadaway |
+44 (0) 1732 700 000 |
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Spark Advisory Partners Ltd - AIM Nominated Adviser Matt Davis / Adam Dawes / Jade Bayat
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+44 (0) 20 3368 3550 |
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Peterhouse Capital Limited - Broker Duncan Vasey/Lucy Williams
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+44 (0) 20 7409 0930 |
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