Trafalgar New Homes was a small house builder which encountered financial difficulties, principally in relation to its development at Mitcham, Surrey.
On 7 July 2010 it announced that it had suspended trading of its shares on the PLUS-Quoted exchange, and subsequently Administrators were appointed.
On 16 November 2010 at a Creditors and General Meeting a proposal by the Administrator for a Company Voluntary Arrangement was considered, and subsequently approved, whereby the issue of £10m ordinary shares were allotted to creditors in full satisfaction of all outstanding debts and 2m ordinary shares allotted to Central Corporate Finance for work performed on the Company Voluntary Arrangement.
On 13 September 2011 the company ceased to be in Administration.
On 8 November 2011 at a General Meeting the company approved the Acquisition (constituting a Reverse Takeover) of Combe Bank Homes Ltd for a consideration of approximately £2,250,000 satisfied by the issue of 186,817,671 new ordinary shares.
On 11 November 2011 the Acquisition was completed and the shares of Trafalgar New Homes Plc were readmitted to trading on the PLUS-Quoted exchange.
Consequent on the acquisition, changes to the Board have resulted in a completely new management of the company.
On 27 June 2013 the Company announced a placing of 14,000,000 new Ordinary Shares at a price of 2p per share and an admission of the shares to trading on AIM with effect from 16 July 2013.
Belgrove House, Borough Green.
This superb, individually designed executive home was completed and sold by Combe Bank Homes in 2009.