DJ Ace Liberty & Stone PLC Issue of Equity
RNS Number : 0018L
Ace Liberty & Stone PLC
27 April 2020
ACE LIBERTY AND STONE PLC
("Ace" or "the Company")
Issue of Ordinary Shares
Ace Liberty and Stone Plc (AQSE: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, today announces that the Company has issued 4,421,094 Ordinary Shares in respect of shareholder loan repayments.
During 2019, the Company drew down loans from several of its shareholders to a total value of GBP3,200,000. The loans carry an interest rate of 7% and had a term of two years. The loans are unsecured.
The Company is pleased to announce that GBP2,200,000 of the loans have been converted into shares at a price of 50p per share, resulting in 4,400,000 Ordinary Shares being issued.
In connection with this repayment a total of GBP10,548 of interest was due on the loans which have been repaid. This was also converted into shares and as a result 21,094 Ordinary Shares have been issued.
Included within these allotments were issues to major shareholders as follows: -
-- 2,009,590 Ordinary Shares allotted to Libank SAL which, together with its subsidiary Peterhouse Corporate Finance Limited, now owns 13,783,894 Ordinary Shares representing 23.58% of the entire issued share capital; and
-- 1,004,794 issued to the family trust of Ismail Ghandour, who now has an interest in 3,613,841 ordinary shares representing 6.18% of the entire issued share capital.
Following these allotments, the total number of issued shares and the total number of voting rights in the Company is 58,466,295. The total issued share capital is now GBP14,616,574.
The above figure of 58,466,295 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 Directors accept responsibility for this announcement.
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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, AQSE Growth Market Corporate Adviser Jon Isaacs / Nick Michaels Tel: +44 (0) 20 3772 0021 www.alfredhenry.com SP Angel Corporate Finance LLP Broker Abigail Wayne / Rob Rees Tel: +44 (0)20 3470 0470 www.spangel.co.uk Belvedere Communications John West / Llew Angus Tel: +44 (0) 20 3687 2756 ACF Equity Research Christopher Nicholson / Amalia Barnoschi Tel: +44 (0) 20 7558 8974 www.acfequityresearch.com
Notes to Editors
Ace Liberty & Stone Plc is a 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
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(END) Dow Jones Newswires
April 27, 2020 08:58 ET (12:58 GMT)