AIM-listed property developer Trafalgar Property (TRAF), the property company which has never made money even during a property boom, has announced that its shares will be suspended after tomorrow’s close because it can’t get its annual accounts to 31 March 2025 out by deadline day tomorrow.
The simple answer to why AIM-listed Trafalgar Property (TRAF) is up by a whopping 25% today (last seen) is found in an intra-day RNS released at 1.41pm noting the sale of a property for £715,000. Good news. Or is it?
AIM-listed (still!) Trafalgar Property (TRAF) saw its shares suspended back in May with a proposed reverse takeover, as detailed by Tom Winnifrith. But the deal fell through (quelle surprise, given the company’s dire balance sheet) and following its results to March 2024, released at the end of September, the suspension was lifted on 1st October with the announcement that the RTO was off. But why?
Trafalgar Property (TRAF) is the sort of sub scale worthless POS that typifies the dregs of AIM. Its shares have been suspended at 0.0525p today as it is considering an RTO – that values the business at c £300,000. But it is drowning in debt has seven figure negative net assets, negative current assets and is burning cash. It is worthless. Its previous attempt to diversify, into tomato growing using hydroponics, flopped like a limp lettuce. What is next? E-Sports. Well sort of.
AIM-listed property disaster outfit Trafalgar Property (TRAF) was suspended on 2nd October as it failed to produce its accounts on time. Last night, at 4.49pm on a Friday – no-one-is-watching o’clock – it snuck them out, along with interims to September. The company is technically insolvent and, frankly, I just don’t understand how the Auditor signed them off at all.
AIM-listed (at least for now) Trafalgar Property (TRAF) sits on death row at the moment. Its shares were suspended 2nd October as it couldn’t produce accounts to 31 March 2023, there has been nothing from the company since –and even in the suspension announcement there was no indication of when the (again awful, one presumes) numbers might appear. On Friday, the FTSE Russell indexes announced it was being deleted from the AIM All-Share Index, along with four others.
AIM-listed property disaster Trafalgar Property (TRAF) announced this morning that it has raised - or, at least, believes it has raised - just £125,000 in a placing at just 0.1p, the par price, below which the company cannot legally issue shares. This has been a total disaster ever since this crock came to AIM in 2013 at 2p per share, meaning it is a proud member of the 95% club as a property company during a property boom.
AIM-listed property disaster Trafalgar Property (TRAF) released its interim results to September 2022 this morning – and what a dog’s breakfast they were!
AIM-listed Trafalgar Property (TRAF) has released a statement detailing a debt consolidation which will offer some comfort to shareholders as they consider the negative net asset position of MINUS £3.3 million and negative net current asset position of MINUS £345,000 as at the last results (interims to September 2021). But I fear that it will make little difference.
Only last Sunday I showed that AIM-listed Trafalgar Property (TRAF) was technically insolvent, with MINUS £345,000 in net current assets, net assets of MINUS £3.3 million and cash of just £24,000 all as at last September. With a big ramp in play following the appointment hydroponics specialist of Dr Paul Francis Challinor, it was surely obvious that a discounted placing was on the way and whilst everybody was putting the finishing touches to the Platinum Jubilee bunting at 3.07 pm the day before a double bank holiday – truly no-one-is-watching o’clock - the company duly announced the issue of 133 million new bits of confetti at a massive discount. Nice work – call me Mystic Meg.
First thing this morning AIM-listed Trafalgar Property (TRAF) announced a board appointment, and the shares shot out of the traps like rocket on speed, trebling in the first two hours of trading. The excitement was to do with the arrival of Dr Paul Francis Challinor as an executive director. Dr Challinor specialises in indoor hydroponic vertical farming – so the tomatoes-in-test-tubes have returned!
Yet again AIM-listed Trafalgar Property has posted calamitous results in a housing boom, describing the year to March 2021 as “disappointing”, blaming Covid-19 natch. It boasts negative net current assets, negative net assets and it is of no surprise that the auditors saw fit to offer warning of a material uncertainty when it came to signing it off as a Going Concern. What’s not to like?
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.
