Shares in Trafalgar Property Group have been suspended while the company explores a tie-up with a tech company.
The AIM-listed residential developer’s shares had lost a third of their value so far this year as of the start of this week, but then rose by 25% to 0.05p on Tuesday.
In response, the company said it is in preliminary discussions over a possible acquisition of Ecap Esport. A deal would constitute a reverse takeover, essentially listing Ecap Esport on AIM.
Shares in Trafalgar will remain suspended until a deal is agreed or the two parties end discussions. Trafalgar said the talks are subject to “a significant number of preconditions, including diligence”.
In its most recent results, covering the six months to 30 September 2023, Trafalgar posted a £214,270 loss. The company sold its last remaining investment property during the period but said development continued at its Speldhurst site in Kent.
Photo by energepic.com from Pexels
Send feedback to Tim Burke
Follow Estates Gazette
