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DJ Ace Liberty & Stone PLC Sale of Ace (Sloane) Limited

TIDMALSP

RNS Number : 6117P

Ace Liberty & Stone PLC

21 November 2016

 
 Press Release   21 November 2016 
 

Ace Liberty and Stone Plc

("Ace" or "the Company")

Sale of Ace (Sloane) Limited

Ace Liberty and Stone Plc (ISDX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, today announces that in 2016 Daniel Waylett, a shareholder, agreed to purchase the entire share capital of Ace (Sloane) Limited, the 100% subsidiary of the Company, which owns Colebrook Court, Sloane Avenue.

The consideration totalled GBP1,553,000 for the disposal. The purchase of Colebrook Court was announced on 17 April 2016 for GBP1,500,000 in issue of new shares. The sale will release cash for further investment in new commercial properties.

- 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, ISDX Corporate Adviser 
 Jon Isaacs / Nick Michaels            Tel: +44 (0) 20 7251 3762 
                                             www.alfredhenry.com 
 Hybridan LLP, Corporate 
  Broker 
 Claire Noyce / Darshan Patel           Tel: +44 (0)203 764 2341 
                                                www.hybridan.com 
 

Media enquiries:

 
 Abchurch 
 Julian Bosdet / Rebecca   Tel: +44 (0) 20 7398 7700 
  Clube 
 als@abchurch-group.com       www.abchurch-group.com 
 

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, Sunderland, Plymouth, Dudley, Gateshead Tyne and Wear, 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: http://acelibertyandstone.com/

This information is provided by RNS

The company news service from the London Stock Exchange

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November 21, 2016 02:00 ET (07:00 GMT)