- Trafalgar Property Group said it had entered into a new five-year loan of around £1.1m for the Speldhurst residential development in Kent, England.

The property was held in trust by director Alex Johnson or the benefit of subsidiary Trafalgar New Homes.

Trafalgar said it had entered into the new loan agreement, secured against the property, to repay the current £783k loan.

To implement the loan, the property had been transferred for nil consideration from the trust arrangement in Johnson's name to the name of Trafalgar directly.

Chief executive Chris Johnson had provided a personal guarantee up to £149k to the lender in respect of the new loan.

At 1:19pm: [LON:TRAF] Trafalgar New Homes Plc share price was 0p at 0.69p

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