DJ Ace Liberty & Stone PLC Sale of Ace (Sloane) Limited
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.
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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, 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
Abchurch Julian Bosdet / Rebecca Tel: +44 (0) 20 7398 7700 Clube email@example.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
(END) Dow Jones Newswires
November 21, 2016 02:00 ET (07:00 GMT)