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Trafalgar Property to Acquire Hydroponics R&D Facility
Wednesday 23 November 2022

UK-based residential and assisted living property developer Trafalgar (AIM: TRAF) has entered a conditional agreement with May Barn Horticultural Consultancy Ltd. for the acquisition of assets and leasehold premises comprising a hydroponic research and development facility, for a cash consideration of GBP 30,000, the company said.

No profits (or losses) are attributable to these assets.

As May Barn is controlled by Dr Paul Challinor, a director of the company, the acquisition, and the grant of a lease over the premises are related party transactions under AIM Rule 13, and the acquisition is also conditional upon the approval of shareholders in general meeting as required under section 190 of the Companies Act 2006.

Trafalgar said its residential property activities have continued to progress during 2022.

In particular, it has received outline planning permission for a private residential scheme in Leatherhead Surrey, where it has an option to purchase the land.

The acquisition is conditional on the passing by shareholders of the resolution at a General Meeting of the company, which is to be held at 10:00am. on 8 December 2022 at Chequers Hill, Bough Beech, Edenbridge, Kent TN8 7PD.

The notice convening the General Meeting is set out in the Circular which has been posted to shareholders together with a form of proxy for the General Meeting.
Date Published: 23/11/2022