DJ Ace Liberty & Stone PLC Issue of Equity and PDMR holding
RNS Number : 0886F
Ace Liberty & Stone PLC
24 October 2018
24 October 2018
Ace Liberty and Stone Plc
("Ace" or "the Company")
Issue of ordinary shares and PDMR holding
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 652,000 shares.
550,000 shares were issued in connection with the conversion of GBP500,000 of convertible loan notes and GBP50,000 of interest thereon. All 550,000 shares were issued at GBP1 per share.
85,000 shares were issued at GBP1 per share for cash consideration and a further 17,000 shares were issued at 80 pence per share in respect of the exercise of warrants which had been issued following the purchase of the convertible loan notes.
Following these allotments the total number of issued shares and the total number of voting rights in the Company is 41,196,298.
The total issued share capital is GBP10,299,074.50
The Company also wishes to announce that it was notified on 21 October 2018 that Chief Executive, Ismail Ghandour, bought 10,970 shares at GBP1.10 per share for a total consideration of GBP12,067.
As a result, Mr Ghandour now has an interest in 2,359,047 Ordinary shares representing 5.7% of the Company's share capital.
The above figure of 41,196,298 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.
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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, NEX Exchange Corporate Adviser Jon Isaacs / Nick Michaels Tel: +44 (0) 20 3772 0021 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 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
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(END) Dow Jones Newswires
October 24, 2018 11:04 ET (15:04 GMT)