Trafalgar sells development sites for $15M

Company News

Trafalgar Corporate Group (ASX:TGP) has completed the sale of two of its development sites.

The property and development group received a $15 million return of capital from its Rhodes development sites.

Trafalgar’s chief executive officer says looking ahead its key focus will be the finalisation of lease negotiations for its investment assets in order to maximise realisation value.

Separately, the company announced a 13 cent per share capital distribution to shareholders to be paid on or about the June 28.
In the first half 2012 financial year, Trafalgar reported a net profit of $1.3 million.