Trafalgar Corporate Group was established in 1997 and operates primarily in the passive commercial property market, having made a strategic decision in 2008 to progressively withdraw from development related activities.

Trafalgar Corporate Group is an internally managed corporate vehicle and two trusts.  The two trusts hold the Group’s investment assets, while the corporate entity owns the responsible entity that manages the trusts and residual development assets.

The stapled structure of the Group creates an internally managed property group, which aligns the interests of management with the interests of Security Holders.  This means that only the actual cost of running the Trust is paid by the Group, without the leakage of management fees to an outside service provider.

The key objectives of Trafalgar Corporate Group are as follows:

• Complete the sale of remaining development assets
  
• Finalise negotiations to extend existing leases and/or replace departing tenants, to improve the lease expiry profile of Trafalgar’s investment portfolio
• Seek security holder approval at the 2010 AGM for an orderly and opportunistic sale of the remaining Group investment assets, subject to market conditions
  
• Sell investment assets in order to further reduce Group debt to approximately $40m
  
• Commence distributions (primarily capital) to security holders once debt levels are reduced to approximately $40m