Property group Trafalgar soars on potential asset sale

(Sharecast News) - Small cap residential and assisted living developer Trafalgar saw its share price surge on Monday on the back of speculation of a "substantial transaction" in the works. The AIM-listed stock was up 56% at 0.074p by 1015 BST.

Trafalgar, which released a statement to the market addressing the share price movement, confirmed that it is in discussions with company director Paul Elliott "regarding a potential property transaction", but did not disclose any further details.

"The transaction whilst in the ordinary course of business is anticipated to be a substantial transaction for the purposes of the AIM Rules for Companies. There can be no guarantee at this stage that the transaction will be completed," the company said.

According to Trafalgar's website, property developer and entrepreneur Elliott "specialises in strategic investment opportunities".