12. SHARE CAPITAL

      Issued, allotted and paid share capital

8. DEBTORS

9. TRADE AND OTHER PAYABLES

11.  FINANCIAL INSTRUMENTS

Page 3

Background – ordinary shares, warrants and loan notes

Ordinary Shares:

On 07 November 2024, further to the announcements of 27 March 2024 and 16 October 2024, the Company announces that C C Johnson had issued a conversion notice to the Company in relation to the entirety of the £99,550 unsecured convertible loan notes held by him in the Company (the "2024 CLN"). As a result, and as per the original terms of the 2024 CLN, the Company issued to C C Johnson 226,250,000 New Ordinary Shares (the "2024 Conversion Shares") at £0.00044 per ordinary share ("2024 CLN Exercise Price").

Further to the announcement of 23 June 2025, the Company announced that it had acquired, from a Director of the Company, P R Elliott (the "Vendor"), a 10% equity interest in Hilton House, a commercial property located in central Stockport, Manchester, for a purchase price of £350,000. This acquisition constitutes a substantial transaction under AIM Rule 12. The consideration for the 10% interest in Hilton House is to be satisfied through a combination of equity issuance (the "Equity Issuance") and a convertible loan note (the "Convertible Loan Note" or "CLN"), comprising:

A. An initial Equity Issuance of 366,666,667 new ordinary shares in the Company at £0.0003 per share, amounting to £110,000 ("Consideration Shares").

B. The balance of £240,000 will be satisfied through the issue of an unsecured CLN, convertible at the same £0.0003 strike price. Conversion of the CLN will be subject to shareholder approval, in the event any proposed conversion results in the Vendor increasing its shareholding in Trafalgar above 29.9%.

On 16 July 2025 the Company announced that Wager Holdings Limited ("Wager") had invested £50,000 by way of direct subscription (the "Subscription") of 500,000,000 new ordinary shares of £0.0001 each in the capital of the Company (the "Subscription Shares"), at a price of £0.0001 per share (the "Issue Price").

Deferred Shares:

On 13 July 2020 the Company undertook a sub-division of its ordinary shares, which sub divided the 487,690,380 0.1p ordinary shares of 0.1p each into 487,690,380 ordinary shares of 0.01p each and 487,690,380 0.09p deferred shares of 0.09p each. The 0.09p deferred shares of 0.09p each were consolidated into deferred shares of 0.9p each ranking pari passu as one class with the existing deferred shares of 0.9p each.

On 04 November 2024, the Company undertook a sub-division of ordinary shares which subdivided the 653,102,371 0.1p ordinary shares into 653,102,371 0.01p and a new 653,102,371 deferred shares 0.09p each. The 0.09p deferred shares of 0.09p each were then consolidated into deferred shares of 0.9p each ranking pari passu as one class with the existing deferred shares of 0.9p each.

Deferred shares do not entitle the holder to receive notice of and to attend or vote at any general meeting of the Company or to receive dividends or other distributions. Upon winding up or dissolution of the Company the holders of deferred shares shall be entitled to receive an amount equal to the nominal amount paid up thereon, but only after holders of ordinary shares have received £100,000 per ordinary share. Holders of deferred shares are not entitled to any further rights of participation in the assets of the Company. The Company has the right to purchase the deferred shares in issue at any time for no consideration.

13. INTERCOMPANY TRANSACTIONS

The Company has taken advantage of the exemption conferred by FRS102 Section 33 “Related Party disclosures” not to disclose transactions undertaken with other wholly owned members of the Group. In addition, there were no transactions with Forum Energy Services Ltd, the provider of a shareholders loan, as per note 10 of the Company financial statements.

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10.  BORROWINGS

Other loans are provided by the following:

• Forum Energy Services Ltd at £25,000 (2024: £25,000) a shareholder of the Company. This loan is interest free and repayable on demand but it has been confirmed by the company that the loan will not be called within the next 12 months. A Convertible Loan Note is currently being discussed to formalize the arrangement.
• Loan agreement entered into by the Group on 3 June 2024 with Ecap Esports Ltd ("Ecap Esports"). Ecap Esports has agreed to loan the Company the sum of £250,000. The loan bears no interest. The current amount owed to Ecap Esports as at year end is £23,965. These funds are held in a separate deposit account to cover any late costs that may occur from the aborted reverse takeover.

The loan with its subsidiary is interest free and repayable on demand.