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DJ Ace Liberty & Stone PLC Issue of Equity

TIDMALSP

RNS Number : 0745U

Ace Liberty & Stone PLC

09 July 2018

 
   9 July 2018 
 

Ace Liberty and Stone Plc

("Ace" or "the Company")

Issue of ordinary shares and grant of options

Ace Liberty and Stone Plc (NEX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, today announces that the Company has issued 160,750 shares.

Of the above figure 104,500 shares were issued in connection with the conversion of GBP95,000 of convertible loan notes and GBP9,500 of interest thereon. All 104,5000 shares were issued at GBP1 per share.

A further 56,250 shares were issued at 80 pence per share in respect of warrants which had been issued to convertible loan note holders.

Finally, a further 24,346 shares have been issued at between 100p and 107p per shares to several individuals in payment for services rendered. These allotments include the issue of 5,000 shares issued to Hady Ghandour for 100p per share. Hady Ghandour is the son of Ismail Ghandour.

Following these allotments the total number of issued shares and the total number of voting rights in the Company is therefore 40,439,298.

The total issued share capital is GBP10,109,824.50.

The above figure of 40,439,298 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

The Company also announces that the remuneration committee have approved the grant of further 2,890,000 share options to the board at an exercise price of GBP0.72 and an expiry in 15 June 2025.

The options are not conditional on the employee's performance and there is no service condition attached to the awards. They are exercisable immediately.

These options are in addition to the existing outstanding 4,053,000 share options which have a weighted average exercise price of GBP0.5965 and expire on either 31 October 2020 or 20 April 2022.

- 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 
 Hybridan LLP, Corporate Broker 
 Claire Noyce                               Tel: +44 (0)203 764 2341 
                                                    www.hybridan.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 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 09, 2018 12:20 ET (16:20 GMT)