DJ Ace Liberty & Stone PLC Draw Down of Lloyds Loan Facility
RNS Number : 8316P
Ace Liberty & Stone PLC
22 November 2016
Press Release 22 November 2016
Ace Liberty and Stone Plc
("Ace" or "the Company")
Draw down of GBP13.75 million Loan Facility from Lloyds Bank
Ace Liberty and Stone Plc (ISDX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to announce that the Company has drawn down a secured loan of GBP13.75 million. The facility is provided by Lloyds Bank Commercial Banking (or "Lloyds Bank") and has been used to complete the purchase of 1-5 Upper Market Square, Hanley (as announced on 5(th) October 2016), as well as to refinance properties owned at Marsh Mills, Plymouth; Shildon House, Gateshead; Bridge House, Dudley; Fawcett House, Sunderland and Hillcrest House, Leeds.
Ismail Ghandour, Chief Executive of Ace Liberty & Stone, said: "The support of a major UK institution such as Lloyds Bank is real endorsement of Ace's portfolio strength and business model. This new facility brings additional access to funds and will help us achieve our plans for more acquisitions and expanding our portfolio over the coming months."
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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 Rebecca Clube / Julian Bosdet Tel: +44 (0) 20 7398 7719 / Tim Thompson firstname.lastname@example.org 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 www.acelibertyandstone.com
This information is provided by RNS
The company news service from the London Stock Exchange
(END) Dow Jones Newswires
November 22, 2016 06:30 ET (11:30 GMT)