Trafalgar Property Group PLC on Wednesday said it is in discussions about a possible acquisition that would be a reverse takeover.
The south-east England-focused residential property developer said the preliminary talks regarding a possible reverse takeover of Merseyside, England-based Ecap Esport Ltd.
Trafalgar Property shares were suspended from trading on AIM on Wednesday, as the deal will be classified as a reverse takeover if it proceeds on the currently envisaged terms.
Before their suspension, shares in Trafalgar Property last traded at 0.065 pence earlier on Wednesday morning in London. That gave a market capitalisation of £421,250.
Trafalgar Property’s stock will remain suspended either until an admission document detailing the acquisition’s terms is published, or until the companies confirm that discussions have ceased.
However, Trafalgar Property noted that the proposed takeover remains under discussion and subject to various pre-conditions including due diligence. Consequently it may not proceed under its current terms, if at all.
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