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DJ Ace Liberty & Stone PLC Statement re property transactions

TIDMALSP

RNS Number : 1381T

Ace Liberty & Stone PLC

02 July 2018

 
   2 July 2018 
 

Ace Liberty and Stone Plc

("Ace" or "the Company")

Property transactions

The directors of Ace Liberty and Stone Plc (NEX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, are delighted to announce the following property transactions.

The Company has completed the purchase of office properties at Tweedale House, Union Street, Oldham and at Brocol House, King Street, Wigan at a combined price of GBP6,400,000. The rents are, respectively GBP245,155 p.a. and GBP352,294 p.a. Both properties are occupied by the Secretary of State for the Department for Communities and Local Government.

This acquisition has also been financed by Coutts & Co with an advance of GBP4,160,00.

Ivan Minter, Chief Financial Officer, commented "These purchases mark a significant step in our development completing our investment of the funds raised in 2017 and early 2018 from the issue of Convertible Loan Notes".

The Directors accept responsibility for this announcement.

- 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, NEX Exchange Corporate 
  Adviser 
 Jon Isaacs / Nick Michaels                 Tel: +44 (0) 20 7251 
                                                            3762 
                                             www.alfredhenry.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, Barnstaple, 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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July 02, 2018 02:00 ET (06:00 GMT)