Trafalgar finds a home on AIM
16 July 2013
The UK property market has long been in the doldrums, but signs of life are beginning to emerge in the market, with pressure to accommodate growing housing demand driving residential development in the south-east. Kent-based property developer Trafalgar Homes Plc is poised to capitalise on this building appetite, following a successful admission to AIM this morning.
On admission, the company has a market capitalisation of approximately £4.6 million and raised £0.28 million before expenses through a placing of 14,000,000 new ordinary shares at a placing price of 2p per share.
Stephen Bullock and Paul Blythe, from leading national accountancy firm Crowe Clark Whitehill, acted as reporting accountants and auditors to Trafalgar Homes’ admission, working alongside Allenby Capital, who performed both the Nomad and broker roles.
Trafalgar Homes plans to use funds raised on AIM to further its acquisition of land for residential property development. The company’s focus is firmly on the south-east, primarily Kent, Surrey, Sussex and the M25 ring south of London, reflecting market demand for housing within striking distance of London.
Christopher Johnson, chief executive of Trafalgar Homes, said “Our relationship with the capital markets team at Crowe Clark Whitehill has been a long-standing one and we were keen to ensure that our AIM adviser team would be able to work closely together to ensure a smooth, successful admission. We greatly appreciated their practical approach to their financial due diligence work and we would certainly recommend the team to other companies seeking admission to London's capital markets."
Stephen Bullock, from Crowe Clark Whitehill, commented: “2013 may well be the year that UK property finally pulls itself out of its five year slump. We’re very pleased to have played a role in the AIM admission of Trafalgar Homes, which has positioned itself perfectly to meet the huge demand for property around London and the South-East, a trend which seems set to continue if the property market continues on the trajectory it has taken since the start of the year.”
