Ace Liberty & Stone - Open Offer Amendment
RNS Number : 8923F
Ace Liberty & Stone PLC
09 November 2022
 

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS INSIDE INFORMATION FOR

THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014

 

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Ace Liberty and Stone plc

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

Proposed Open Offer of up to 18,238,835 New Ordinary Shares at 25 pence per share

 

Ace Liberty and Stone Plc (AQSE: ALSP), the active property investment company capitalising on commercial property investment opportunities across the UK, announced on the 21 October 2022 that it will raise up to £4,559,708.75 (before fees and expenses) through an Open Offer by way of the issue of New Ordinary Shares at an Issue Price of 25 pence per New Ordinary Share. Following shareholders' requests, the timetable for the Open Offer has been amended and the new timetable is set out below. All other aspects of the Open Offer remain unchanged and details can be found on the company website www.acelibertyandstone.com.

 

 

Revised Timetable of Events

 

Record Date for entitlement to participate in the Open Offer


6.00 p.m. on 20 October 2022

Announcement of the General Meeting and Open Offer and dispatch of the Circular and the Application Form


 

21 October 2022

Expected ex-entitlement date for the Open Offer


8.00 a.m. on 21 October 2022

Basic Entitlements and Excess Open Offer Entitlements credited to Stock Accounts in CREST of Qualifying CREST Shareholders

 


8.00 a.m. on 24 October 2022

Latest time and date for receipt of completed Forms of Proxy or receipt of CREST Proxy Instructions for the General Meeting


11.00 a.m. on 14 November 2022

General Meeting


11.00 a.m. on 16 November 2022

Recommended latest time for requesting withdrawal of Basic Entitlements and Excess Open Offer Entitlements from CREST


4.30 p.m. on 24 November 2022

Latest time for depositing Basic Entitlements and Excess Open Offer Entitlements into CREST


3.00 p.m. on 25 November 2022

Latest time and date for splitting Application Forms

(to satisfy bona fide market claims only)


 

3.00 p.m. on 28 November 2022

Latest time and date for receipt of completed Application Forms

and payment in full under the Open Offer or settlement of relevant CREST instructions (as appropriate)


 

11.00 a.m. on 30 November 2022




Allotment of New Ordinary Shares


8.00 a.m. on 14 December 2022

Admission of the New Ordinary Shares to trading on

AQSE Growth Market


 

8.00 a.m. on 14 December 2022

Expected date of dispatch of definitive share certificates for the

New Ordinary Shares in certificated form (certificated holders only)


 

by 21 December 2022

 

Admission, Settlement and dealings

The result of the Open Offer is expected to be announced on 14 December 2022.  Admission to trading of the New Ordinary Shares on the AQSE Growth Market will take place automatically following an announcement by the Company confirming completion of the Open Offer. It is expected that Admission will become effective and that dealings in the Open Offer Shares, fully paid, will commence at 8.00 a.m. on 14 December 2022.

 

 

Ismail Ghandour, Chief Executive Officer, commented:

 

"The Directors have taken into account shareholder requests to allow more time for completion of applications and, in particular, to allow overseas investors adequate time to remit funds to the UK. The Open Offer will provide Ace with the flexibility to take advantage of opportunities that provide long-term benefits for our shareholders and we look forward to announcing the result of the Open Offer in December."

 

 

-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,

AQSE Growth Market Corporate Adviser


Jon Isaacs / Nick Michaels

Tel: +44 (0) 20 3772 0021


www.alfredhenry.com

 


 


SP Angel Corporate Finance LLP

Broker


Vadim Alexandre / Rob Rees

Tel: +44 (0)20 3470 0470

 

www.spangel.co.uk  

 

 

 

 

 

 

 

 

 

- ends -

 

 

The Directors accept responsibility for this announcement.

 

 

 

Notes to Editors

 

Ace Liberty & Stone Plc is a property investment company with a diverse portfolio of properties located across the UK, predominantly in the midlands and north of England, which are now the focus of Government incentives. The Company locates commercial properties which have creditworthy tenants, several years' rental income and 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 to deploy its strong balance sheet and is 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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