If Umuthi thought Richard Jennings was kidding....here is the First Gazette! Tough luck fascist bastard lawyers Memery Crystal
Ridgecrest – now it is forced to make a statement but still the morons don’t get it. An RTO explained for morons including Zak Mir.
AIM-listed technically insolvent POS Trafalgar Property (TRAF) today announced a director share purchase: CEO Paul Treadaway has bought a million golden tickets. The stock is up on the news, but I fear that this is just a textbook spoof.
AIM-listed POS Trafalgar Property (TRAF) has this morning announced interims to September this year, claiming a truly commendable performance and looks forward to the immediate future with a degree of optimism and confidence not felt for a number of years. Goodness me – has Chris Akers missed out by selling then?
At least we weren’t told anybody was pleased to announce these results on Wednesday morning, but the numbers offered up by AIM-listed Trafalgar Property (TRAF) were once again horrific. And something simply does not ring true.
Things appear to be hotting up at the latest Chris Akers/Peterhouse ramp, AIM-listed Trafalgar Property (TRAF), with Chris Akers having upped his stake for a second time, now to 9.12%. Of course, at first glance Trafalgar is an utterly worthless POS but recently announced that the holding company was clean of debt – the expectation being that the subsidiaries will either be packed off to the administrator’s office or sold off for a traditional £1.
It is ouzo time once again at Tom Winnifrith Towers: just 15 days ago he suggested that all was perhaps not at it might immediately seem at AIM-listed Trafalgar Property (TRAF) in that its disaster of a balance sheet with piles upon piles of debt – and thus, ordinarily, a slam-dunk sell –was tempered by the debt not being held at parent company level, but within subsidiaries. He suggested that disappearing and reappearing broker Peterhouse might have a plan involving Chris Ackers and so it has proved.
Technically insolvent AIM-listed POS Trafalgar Property (TRAF) has announced a bailout placing/subscription, courtesy of a Peterhouse special, to raise £750,000 at just 0.08p. Alongside that, there is a corporate loan restructuring which will see £600,000 of intercompany debt morphed into convertible loan notes issued to a director but still leave behind a further £1.4 million debt to said director. Well, you can’t say you were not warned…….
AIM-listed serial property dog Trafalgar Property (TRAF) has announced the sale of land in Barnett Wood Lane, Ashtead for £687,500 which has seen a stonking 40% rise in the share price this morning. Good news - or is it?
The AIM-listed property disaster that is Trafalgar Property (TRAF) was surely already at death’s door but yesterday’s update shows that its board is either deluded or trying to delude investors. The last set of numbers (released at 4.23pm on the Friday before Christmas) showed negative shareholder funds of £2.9 million (quite an achievement for a housebuilder in a housing boom!). Three weeks ago it tried to dress up a hoped-for bucket shop bailout by proposing to grow tomatoes in test tubes and now we have a disastrous statement which it thinks polishes the turd – but looks more like an April Fool to me...
AIM-listed Trafalgar Property (TRAF) has made a total shambles of being a housebuilder in a housing boom. It listed on AIM in 2013 and at the last count was sporting just £14,000 of cash as at 18 December and recorded shareholder funds of MINUS £2.9 million at the end of September in its interims released at 4.23pm on the Friday before Christmas. Now it wants to utilise its property development skills to move into hydroponics – growing vegetables in test-tubes! Oh....
AIM-listed property company Trafalgar Property (TRAF) has been a serial deliverer of bad news since it came to AIM and yesterday was no exception as it served up yet another round of disastrous results as it reported interims at 4.23pm in the run-up to Christmas – truly no-one-is-watching o’clock. And what happened to its sole broker, Peterhouse?
As discussed HERE AIM-listed Trafalgar Property (TRAF) today confirmed that it has lost its £230,000 deposit on a site in Camberley after discussions with its banks and other lending institutions failed to deliver the mullah to complete the transaction. What on earth was it doing exchanging contracts for this (and handing over £230,000) when it didn’t have the cash to complete?
have been a bear of AIM-listed Trafalgar Property (TRAF) ever since I first wrote about it way back in 2015, when I noted that in the middle of a housing boom the fact that the company had again lost money. In April of this year I noted that it had only delivered one set of profitable accounts out of five since it listed on AIM, after the company had claimed to be well placed to deliver and claimed it was exciting times. With that background, we had an update at 3.11pm today. Of course,as Steve Moore has often noted, intra-day updates are rarely good news…..
Last time I commented on AIM-listed Trafalgar Property (TRAF) I responded to the claim it was well placed to deliver with the observation that since listing on AIM it had only delivered one set of profitable account out of five when the housing market was on fire, and that current borrowing of £3.1 million plus longer term loans of £4.9 million meant that the lenders would benefit long before shareholders. This morning we had a trading statement: how does the well placed to deliver company find itself?
I last commented on AIM-listed Trafalgar Property Group (TRAF) back in July 2015, after it snuck out its results at 5.23pm on a Friday, announcing losses for its year to March 2015 but saying it was seeking a return to profitability in 2016 and 2017. So how has it done?
Quite how a house builder manages to lose money in the current environment is a mystery to me. For the second consecutive year, £1.8 million market cap AIM tiddler Trafalgar New Homes plc (TRAF) has done just that, reporting a doubled £620,000 loss for the year (0.26p per share, a third of the bid price) to 31 Mar 2015 at no-one-is-watching o’clock on Friday (at 5.23pm). The ShareProphets RNS Translation Service has had a field day with the Chairman’s statement. Original in Bold.
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