6th Nov 2018 14:30
LONDON (Alliance News) - Trafalgar Property Group PLC said Tuesday it entered into a new five-year loan of GBP1.1 million secured against the Speldhurst Property located in Kent.
The property, which was acquired to build a substantial new build detached house, was held in a trust by Alex Johnson, a director of the company.
The company had accepted to repay Johnson's loan and associated interest payments on the Speldhurst property, which stood at GBP783,430 and were due for repayment.
The new loan will provide funds to repay Johnson's loan and to provide working capital to the company, Trafalgar said.
Trafalgar Property shares were untraded at 0.69 pence each.
Related Shares:
Trafalgar Prop