Ace Liberty & Stone - Property Transaction

Announcement provided by

Ace Liberty & Stone plc · ALSP

20/05/2022 07:00

RNS Number : 1041M

Ace Liberty & Stone PLC

20 May 2022

ACE LIBERTY AND STONE PLC

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

PROPERTY TRANSACTION

20 May 2022

Ace Liberty and Stone Plc (AQSE: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to update shareholders on the following transaction.

The Company has completed the sale of the company which owns Flat G, Oscar Court, 17-19 Tite Street, Chelsea SW3 4JS for £2,185,000 against its current book value of £2,100,000. The property was purchased in April 2016, by means of a secured loan and a share issue at 75p per share.

Ismail Ghandour, CEO, commented, "Purchasing this residential property by issuing shares at a premium enabled the Company to add value to its balance sheet at the time of the transaction. Even taking account of the subsequent erosion of West End property values, the sale has resulted in a break even for the group."

The Directors accept responsibility for this announcement.

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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	Tel: +44 (0) 20 3772 0021
Jon Isaacs / Nick Michaels	www.alfredhenry.com


SP Angel Corporate Finance LLP Broker Vadim Alexandre / Rob Rees	Tel: +44 (0)20 3470 0470 www.spangel.co.uk

Notes to Editors

Ace Liberty & Stone Plc is a property investment company with a diverse portfolio of properties located across the UK, currently including Sunderland, Middlesbrough, Gateshead, Barnstaple, Margate and Manchester. 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 substantial 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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