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Trafalgar Property – Mystic Meg Strikes Again As Placing Collapses Shares

By Nigel Somerville, the Deputy Sheriff of AIM | Friday 3 June 2022

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

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.

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