Post Balance Sheet Events

Trafalgar (AIM: TRAF) announced in May 2025 that it had appointed Paul Elliott to the board to develop the property portfolio of the group. In addition, it also announced that it had sold its property at Barden Road for £715,000 generating £94,500 of net proceeds after the repayment of the 3rd party loans and professional fees.

In July 2025, the company acquired from Paul Elliott a 10% equity interest in Hilton House, a commercial property in Stockport for conversion to residential, for £350,000 to be satisfied by the issuance of 366,666,667 new ordinary shares at £0.0003 each amounting to £110,000 leaving Paul, at the time, with 29.43% of the fully diluted share capital. The balance of £240,000 will be satisfied through the issue of an unsecured CLN at £0.0003 strike price.

Later in July Wager Holdings Ltd invested £50,000 by way of a direct subscription of 500,000,000 new ordinary shares at £0.0001 each. This cash was used for working capital purposes. In addition to the subscription, Trafalgar will create £150,000 of unsecured CLN’s with Wager to fund working capital, which will be drawn down in tranches and the conversion restricted to ensure the CLN holder does not breach the 29.9% or more of the voting rights.  

Provision of information to auditor

Each of the persons who are Directors at the time when this Directors’ Report is approved has confirmed that:

• so far as that Director is aware, there is no relevant audit information of which the Group’s auditor is unaware; and
• that Director has taken all the steps that ought to have been taken as a Director in order to be aware of any information needed by the Group’s auditor in connection with preparing their report and to establish that the Group’s auditor is aware of the information.

Auditor

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.

MHA will be proposed for re-appointment in accordance with Section 485 of the Companies Act 2006.

This report was approved by the Board and signed on its behalf.

Paul Treadaway
Director

21 October 2025

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