Trafalgar Property Seals Beaufort Homes Deal, Appoints New Director

19th Mar 2018 11:43

LONDON (Alliance News) - Trafalgar Property Group PLC, formerly known as Trafalgar New Homes, said on Monday it has completed the acquisition of Beaufort Homes Ltd, which will be renamed Trafalgar Retirement + Ltd.

The acquisition was satisfied by the issue of 186.8 million shares in Trafalgar to the owners of Beaufort, which would represent a 44% in the enlarged issued share capital.

In addition, Beaufort Homes Director Dan Stocks has been appointed executive director, and will be responsible for Beaufort Homes' property construction and the ongoing maintenance of the completed properties.

"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," said Chief Executive Chris Johnson.

Shares in Trafalgar Property were untraded on Monday, last quoted at 0.840 pence.

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