Completion of Acquisition and board appointment

RNS Number : 0653I

Trafalgar Property Group PLC

19 March 2018

 

19 March 2018

TRAFALGAR PROPERTY GROUP PLC

("Trafalgar", the "Company" or "Group")

Completion of Acquisition of Beaufort Homes Limited and board appointment

Trafalgar (AIM:TRAF), the AIM quoted residential and assisted living property developer, is pleased to announce the completion of its acquisition of Beaufort Homes Limited ("Beaufort Homes") (the "Acquisition"). Beaufort Homes, which is to be renamed Trafalgar Retirement + Limited, was established in October 2016 and has signed a number of option agreements for the acquisition of sites in southeast England which, subject to securing planning permission and funding, would be developed into extra care and assisted living schemes. 

The UK population is aging, leading to a growing demand for specialised housing for the elderly and an increasingly favourable planning environment for such property. Currently, the supply of specialised housing for the elderly is limited and predominantly arranged on a rental model. Beaufort intends to develop units for purchase by owners, who would then receive extra care in their own homes.

Further details of the Acquisition can be found in the Company's announcement of 27 February 2018.

Chris Johnson CEO, commented: "We are delighted to have completed this acquisition which we believe will be transformational for the business, given the UK's growing retirement demographic and the increasing demand for assisted living properties. We look forward to updating the market as to our progress with this new strategy."

Board appointment

In conjunction with the Acquisition, the Company is pleased to announce the appointment of Dan Stocks as an Executive Director with immediate effect. He will be responsible for Beaufort Homes' property construction and the ongoing maintenance of the completed properties.   

Dan has a diploma in Urban Property Surveying and a degree in Building Surveying from Kingston University.  From 1997, Dan spent four years with a large southwest London estate agency where he managed a portfolio of up to £20 million of properties.  In 2001, Dan joined a large multi-disciplinary firm of surveyors in the West End, where his responsibilities included procuring and awarding large "JCT Design and Build" contracts for new build and refurbishment developments.  Dan became a professional member of the Royal Institution of Chartered Surveyors in 2002. Dan co-founded Beaufort Homes with Paul Treadaway. Additional information on Dan is set out further below.

AIM rules disclosures

Daniel "Dan" Charles Stocks, aged 44, has a beneficial interest in 80,330,532 Ordinary Shares, equivalent to 18.89% of the total voting rights of the Company.

Dan is, or has during the last five years been, a director or partner of the following companies and partnerships:

Current directorships/partnerships	Past directorships/partnerships within the last five years
Beaufort Homes Limited Next Generation Homes Limited Next Generation Bespoke Homes Limited Next Generation Construction Limited Back Land Developments Limited Lucien Limited Holtwood Limited Woodside Southern Limited Trafalgar Retirement + Limited Trafalgar Property Group Limited	Spinney Oxshott Limited SSA Investments Limited Garway Limited

Enquiries:

Trafalgar Property Group Plc Christopher Johnson	[phone]
Allenby Capital Ltd - Nominated Adviser and Broker Jeremy Porter/James Reeve	[phone]
Yellow Jersey PR Limited Charles Goodwin / Abena Affum	[phone]

 

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