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Press Release
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28 January 2016
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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:
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Ace Liberty & Stone Plc
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Ivan Minter, Financial Director
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Tel: +44 (0) 20 7201 8340
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http://acelibertyandstone.com
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Alfred Henry Corporate Finance Ltd, ISDX Corporate Adviser
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Jon Isaacs / Nick Michaels
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Tel: +44 (0) 20 7251 3762
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www.alfredhenry.com
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Hybridan LLP, Corporate Broker
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Claire Noyce / Darshan Patel
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Tel: +44 (0)203 764 2341
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www.hybridan.com
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Media enquiries:
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/