Ace Liberty and Stone plc

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

Final Results for the 12 months to 30^th April 2018

Ace Liberty and Stone Plc (NEX: ALSP), the active property investment company capitalising on commercial property investment opportunities across the UK, today announces its Final Results for the year ended 30 April 2018.

Highlights

·     Revenue for the year up to £3,515,088 from £2,632,219 in 2017 (34% increase)

·     Property assets have increased 49% to £58,221,856 (2017: £38,979,308)

·     Profit before non-recurring income and overheads increased by 26% from £839,198 in 2017 to £1,054,510.

·     Further purchases since the year-end total approximately £35million.

·     Continued show of support from shareholders who provided funding of £5.3m by way of a convertible loan note issued through an open offer.

·     Banking relationships expanded through further facilities with Coutts & Co.

Commenting on the final results, Ismail Ghandour, CEO of Ace Liberty and Stone Plc, said: "This has been a record-breaking year for Ace and we are set for further growth."

- Ends -

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Notes to Editors

Ace Liberty & Stone Plc is a London-based property investment company with a diverse portfolio of eighteen properties spread across the UK. The Company locates commercial properties with sound covenants and good yields 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: http://acelibertyandstone.com/ 

Chairman's Statement

The year under review has seen the Group advance significantly on a number of fronts. We have been active in the property market, purchasing properties in Barnstaple, Margate, Middlesbrough and Keighley during the year for a total consideration of £20.5million and negotiating three further purchases for completion shortly after the balance sheet date, in Oldham, Wigan and Leicester at a total cost of £10.7million. We have recently announced the exchange of contracts for the Mecca Bingo Hall in Chesterfield at a price of £4million. The total cost of these acquisitions was approximately £35million and the resultant annual rental income commanded by the full portfolio now substantially exceeds £5million. The front cover of this year's report graphically illustrates the Group's progress over the past six years.

As a listed company, Ace complies with IFRS requirements. This has resulted in substantial costs being charged against current year profits. The issue costs of the two Convertible Loan Notes are being written off over the two-year period to conversion, although the benefit to the Company of the properties acquired with the proceeds will be enjoyed for a significantly longer period. There is also a requirement to charge interest costs to Income and Expenditure account at a rate higher than that being paid to Loan Note holders and this further depresses reported profits by £140,000.

Taking into account these and other considerations, the directors have decided to expand the Key Performance Indicator section of the Strategic Report, which has been featured for the past four years, and show the principal statistics monitored by the Board in managing the Group's activities. My colleagues and I believe this is a valuable addition to the information revealed in statutory form as it permits additional understanding of the underlying business performance and the growth achieved over the past five years.

I am pleased to report that revenue for the year has increased to £3,515,088 from £2,632,219 in 2017. Although profit before tax has dropped from £1,122,317 in 2017 to £214,141 in the current year, the KPI report shows that the profit earned by the business before non-recurring income and overheads increased from £839,198 in 2017 to a current year value of £1,054,510.

The support of shareholders has again been invaluable. I mentioned last year the issue of a £10million Convertible Loan Note and during the year under review existing shareholders have responded magnificently to the issue of a 5% CLN accompanied by an entitlement to an equal number of Warrants to purchase 25p Ordinary Shares exercisable at 80p. £5.3miliion was raised which financed the ensuing property purchases.

For the fifth consecutive year the Company has rewarded shareholders with an increase in the annual dividend, which in 2018 amounted to 1.25p per share and benefitted shareholders by in excess of £500,000. With the expected growth of profits and cash flow, the directors intend to further reward shareholders in future. As a first step the Board has decided to increase the dividend payment frequency. Up to now the dividend has been declared annually and paid in July following the year end. In future it will be paid in three instalments; the first payment will be in October (halfway through the year); the second in April (at the end of the year); and the third in July following the year end (at the same time as the existing payment). This arrangement will benefit shareholders with an earlier receipt of the dividend and enable the Board to increase dividends more quickly than in the past by better utilisation of the Group's cash inflow.

The Group's property acquisition programme has been supported by the willingness of the Group's bankers to provide secured finance facilities. Additional borrowings have been made under the facility provided by Lloyds Bank plc and this now stands at £27 million. During the year, a relationship was established with Coutts & Co which has resulted in a facility of some £6 million being made available for the properties purchased in May and June 2018.

The directors expect to continue to drive the company forward on the same path. At the present time further, unannounced, transactions are under negotiation which will yet again yield further growth.

We go forward into the next twelve months with renewed enthusiasm and a determination to continue to enhance the value of our shareholders' investment.

Dr Tony Ghorayeb

Chairman

Date: 26 September 2017

Group Statement of Comprehensive Income for the year ended 30 April 2018

  Group Statement of Financial position at 30 April 2018

Group Cash Flow Statement for the year ended 30 April 2018    

NOTES TO RESULTS FOR THE PERIOD ENDED 30 APRIL 2018

1.       The financial information set out above does not constitute statutory accounts for the purpose of Section 434 of the Companies Act 2006.   The financial information has been extracted from the statutory accounts of Ace Liberty & Stone Plc and is presented using the same accounting policies, which have not yet been filed with the Registrar of companies, but on which the auditors gave an unqualified report on 26^th September 2018.

The announcement of the results for the year ended 30 April 2018 was approved by the board of directors on 27^th September 2018.

2.       Earnings per Share

The calculations of earnings per share are based on the following earnings and numbers of shares.