Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
LONDON - Trafalgar Property Group PLC (AIM:TRAF), a residential and assisted living property developer, has secured a £50,000 investment through a direct subscription from Wager Holdings Limited, according to a press release statement issued Wednesday.
The subscription involves the issuance of 500 million new ordinary shares at £0.0001 per share. The funds will primarily be used to support the company’s working capital requirements.
In addition to the subscription, Trafalgar is in discussions with Wager Holdings regarding a potential £150,000 unsecured interest-free convertible loan note (CLN). The proposed CLN would be repayable by December 31, 2025, and convertible at £0.0001 per share, representing a 71.43% discount to the closing mid-market share price of £0.00035 on July 14.
The conversion would include restrictions to ensure that the CLN holder, together with any persons acting in concert, would not hold 29.9% or more of the company’s voting rights immediately following conversion.
Trafalgar noted that discussions regarding the convertible loan note are ongoing, and there is no guarantee it will be finalized.
The subscription shares, when issued and fully paid, will rank equally with existing ordinary shares. The company has applied to the London Stock Exchange (LON:LSEG) for the new shares to be admitted to trading on AIM, with admission expected to become effective on July 22.
Following admission of the subscription shares, Trafalgar’s issued ordinary share capital will consist of 1,746,019,038 ordinary shares.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.