The group continues to make solid progress in relation to exiting a number of its development projects and negotiations continue with potential buyers for a number of these assets.”
In light of progress made with the stated objective of exiting from development activities and as part of broader operating cost reduction initiatives, the Chief Financial Officer, Mr Barry Morris will be stepping down from his position and his responsibilities will be assumed by the Company Secretary, Mr Peter Norris with the positions of Chief Financial Officer and Company Secretary to be combined.
The Chairman, Garry Sladden, said “Barry has made a substantial contribution during his 3½ years with the group, however, the significant reduction in development business activity has led to a further rationalisation of the management team. My fellow directors and I are very grateful to Barry for his professional commitment and quality of his work during a very challenging period in the property market.”
NB: This statement was released by Trafalgar yesterday, September 8.