Ace Liberty & Stone - Issue of Ordinary Shares
RNS Number : 6374T
Ace Liberty & Stone PLC
15 November 2019
 

ACE LIBERTY AND STONE PLC

 

(''Ace'' or "the Company'')

 

Issue of Ordinary Shares

 

Ace Liberty and Stone Plc (NEX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, today announces that the Company has issued 1,950,000 Ordinary Shares.

 

The Ordinary Shares were issued to Dr Abdul Karim El-Rousstom following the exercise of his rights under Convertible Loan Notes with a principal amount of £1,500,000. Dr El-Rousstom used £300,000 of the newly converted notes to subscribe for 300,000 Ordinary Shares at a price of £1 each, and the balance of £1,200,000 as consideration for the exercise of 1,500,000 warrants to buy Ordinary Shares at price of 80p each. Under the terms of the Convertible Loan Note agreement the interest of £150,000 due to Dr El-Rousstom has been satisfied by the issue of 150,000 Ordinary Shares at £1 each.

 

Following these allotments, the total number of issued shares and the total number of voting rights in the Company is 45,148,368, of which Dr El-Rousstom now holds 9,717,896 or 21.52% of the Company's enlarged share capital. The total issued share capital is now £11,287,092.

 

The above figure of 45,148,368 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

Following these allotments and the repayment of £300,000 of convertible loan notes, £2,275,000 of convertible loan notes and 2,605,450 warrants remain outstanding.

 

Separately, and further to the Company's announcement dated 24 October 2019, it was disclosed that 369,000 shares were issued at GBP1 per share in consideration for the settlement of invoices for services. The figure of 369,000 was incorrect and the correct figure was 367,000. As of 24 October 2019, the correct total number of voting rights in the Company was therefore 43,198,368.

 

The Directors accept responsibility for this announcement.

 

 

- 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,

NEX Exchange Corporate Adviser

 

Jon Isaacs / Nick Michaels

Tel: +44 (0) 20 3772 0021

 

www.alfredhenry.com

 

 

SP Angel Corporate Finance LLP

Broker

 

Abigail Wayne / Rob Rees

Tel: +44 (0)20 3470 0470

www.spangel.co.uk 

 

 

Belvedere Communications

 

John West

Tel: +44 (0) 20 3687 2756

Kim van Beeck

 

 

 

 

 

ACF Equity Research

 

Christopher Nicholson / Amalia Barnoschi

Tel: +44 (0) 20 7558 8974

 

www.acfequityresearch.com

 

 

 

Notes to Editors

 

Ace Liberty & Stone Plc is a property investment company with a diverse portfolio of properties located across the UK, currently including Leeds, Sunderland, Plymouth, Dudley, Gateshead, Barnstaple, and London. The Company locates commercial and residential 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.

 

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 www.acelibertyandstone.com

 

 

 


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