Ace Liberty & Stone - Loan conversion and issue of shares London Stock Exchange
RNS Number : 2350N
Ace Liberty & Stone PLC
28 January 2016
 

 

 

 

Press Release

28 January 2016

 

Ace Liberty & Stone Plc

 

('' Ace'' or the ''Company'')

 

Loan Conversion and Issue of Equity

 

Ace Liberty & Stone Plc (ISDX: ALSP), the active property investment company capitalising on commercial property investment opportunities across the UK, announces that Dinama Holdings Limited ("Dinama") have exercised their right to convert their loan to Ace of £500,000, advanced on 12 February 2015, into ordinary shares in Ace at 2.75p per share.

 

Interest due by Ace on the loan has also been paid in shares.  This settles all Ace's liabilities under the loan agreement.  Accordingly, 21,181,818 shares have been issued to Dinama, representing 3.61% of the enlarged share capital.

 

Following the loan conversion, the Company has 584, 360, 885 ordinary shares of 1p each in issue, each share carrying the right to one vote.

 

 

- Ends -

 

For further information, please contact:

Ace Liberty & Stone Plc

 

Ivan Minter, Financial Director

Tel: +44 (0)  20 7201 8340

 

http://acelibertyandstone.com

Alfred Henry Corporate Finance Ltd, ISDX Corporate Adviser

 

Jon Isaacs / Nick Michaels

Tel: +44 (0) 20 7251 3762

 

www.alfredhenry.com

Hybridan LLP, Corporate Broker

 

Claire Noyce / Darshan Patel 

Tel: +44 (0)203 764 2341

 

www.hybridan.com

Media enquiries:

Abchurch Communications

 

Quincy Allan / Canace Wong

Tel: +44 (0) 20 7398 7700

quincy.allan@abchurch-group.com

www.abchurch-group.com

 

 

Notes to Editors

 

Ace Liberty & Stone Plc is a London-based property investment company with a diverse portfolio of properties located across the UK, currently including Leeds, Doncaster, Sunderland, Dudley and Gateshead Tyne and Wear. The Company locates commercial properties which have the potential for an increase in value through creative asset management activity, such as change of tenancy, change of use or new lease negotiation.  Ace has maintained a track record of generating strong profits at disposal of properties and achieving better-than average returns on capital. With strong support from shareholders and mortgage lenders, the Company is currently seeking further investment opportunities in the UK to create value for existing and new investors.

 

The London property market has seen considerable recovery since the 2008 financial crisis. However, in some UK regions smaller properties have begun to appreciate in value, and this trend is starting to appear amongst larger properties.

 

Ace is run by a board with extensive property experience, an excellent network of contacts and relevant professional qualifications. This sector expertise has allowed the Board to identify opportunities and act promptly to secure investments.

 

For more information on the Company please visit: http://acelibertyandstone.com/ 

 

 

 


This information is provided by RNS
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