Ace Liberty & Stone PLC Admission and Trading of Open Offer Shares (3807Q)

TIDMALSP

RNS Number : 3807Q

Ace Liberty & Stone PLC

29 February 2016

 
 Press Release   29 February 2016 
 

Ace Liberty & Stone Plc

(" Ace" or the "Company")

Issue of Shares

Admission and Trading of Open Offer Shares

Ace Liberty & Stone Plc (ISDX: ALSP), the active property investment company capitalising on commercial property investment opportunities across the UK, is pleased to announce the issue of 350,000,000 new Ordinary Shares as a result of its successful Open Offer, detailed in the announcement released 5 February 2016.

On 23 February, Ace announced that it had received valid acceptances from Qualifying Shareholders under the Excess Application Facility and under the Open Offer of 439,640,943 Shares. To restrict applications to the offer limit of 350,000,000 shares, the applications from the Excess Application Facility were scaled down by 57.92%.

The Company can now confirm that admission of 350,000,000 new Ordinary Shares to trading on ISDX in connection with the Open Offer became effective today.

Following the issue of shares, major shareholders and directors have the following holdings:

 
 Major Shareholders and Directors    Total Number of   Percentage of Enlarged 
                                      Shares            Share Capital 
----------------------------------  ----------------  ----------------------- 
 Dr. Abdel-Karim El-Rousstom         167,835,109       17.32% 
----------------------------------  ----------------  ----------------------- 
 HSBC Global Custody Nominee 
  (UK) Limited                       140,351,959       14.49% 
----------------------------------  ----------------  ----------------------- 
 Dinama Holdings Limited             80,209,472        8.28% 
----------------------------------  ----------------  ----------------------- 
 Daniel Waylett                      78,352,999        8.09% 
----------------------------------  ----------------  ----------------------- 
 Ismail Ghandour (Director)          46,709,883        4.82% 
----------------------------------  ----------------  ----------------------- 
 Bijan Daneshmand                    46,250,000        4.77% 
----------------------------------  ----------------  ----------------------- 
 Libank S.A.L.                       37,716,357        3.89% 
----------------------------------  ----------------  ----------------------- 
 Dr. Anthony Ghorayeb (Director)     19,999,999        2.06% 
----------------------------------  ----------------  ----------------------- 
 Hikman El-Rousstom (Director)       17,897,315        1.85% 
----------------------------------  ----------------  ----------------------- 
 Kayssar Ghorayeb (Director)         6,322,988         0.65% 
----------------------------------  ----------------  ----------------------- 
 Keith Pankhurst (Director)          3,254,701         0.34% 
----------------------------------  ----------------  ----------------------- 
 Mark Thomas (Director)              1,058,782         0.11% 
----------------------------------  ----------------  ----------------------- 
 Ivan Minter (Director)              678,110           0.07% 
----------------------------------  ----------------  ----------------------- 
 

The Company now has 968,818,417 ordinary shares of 1p each in issue, each share carrying the right to one vote.

- Ends -

For further information, please contact:

 
 Ace Liberty & Stone Plc 
 Ivan Minter, Financial Director       Tel: [phone] 
                                   http://acelibertyandstone.com 
 Alfred Henry Corporate Finance 
  Ltd, ISDX Corporate Adviser 
 Jon Isaacs / Nick Michaels            Tel: [phone] 
                                             www.alfredhenry.com 
 Hybridan LLP, Corporate 
  Broker 
 Claire Noyce / Darshan Patel           Tel: [phone] 
                                                www.hybridan.com 
 

Media enquiries:

 
 Abchurch 
 Quincy Allan / Canace Wong        Tel: [phone] 
 [e-mail]      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, Doncaster, Sunderland, Dudley and Gateshead Tyne and Wear. The Company locates commercial 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.

The London property market has seen considerable recovery since the 2008 financial crisis. However, in some UK regions smaller properties have begun to appreciate in value, and this trend is starting to appear amongst larger properties.

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: http://acelibertyandstone.com/

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 29, 2016 02:00 ET (07:00 GMT)