TIDMALSP

RNS Number : 8316P

Ace Liberty & Stone PLC

22 November 2016

 
 Press Release   22 November 2016

Ace Liberty and Stone Plc

("Ace" or "the Company")

Draw down of GBP13.75 million Loan Facility from Lloyds Bank

Ace Liberty and Stone Plc (ISDX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to announce that the Company has drawn down a secured loan of GBP13.75 million. The facility is provided by Lloyds Bank Commercial Banking (or "Lloyds Bank") and has been used to complete the purchase of 1-5 Upper Market Square, Hanley (as announced on 5(th) October 2016), as well as to refinance properties owned at Marsh Mills, Plymouth; Shildon House, Gateshead; Bridge House, Dudley; Fawcett House, Sunderland and Hillcrest House, Leeds.

Ismail Ghandour, Chief Executive of Ace Liberty & Stone, said: "The support of a major UK institution such as Lloyds Bank is real endorsement of Ace's portfolio strength and business model. This new facility brings additional access to funds and will help us achieve our plans for more acquisitions and expanding our portfolio over the coming months."

- 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, ISDX Corporate Adviser 
 Jon Isaacs / Nick Michaels            Tel: +44 (0) 20 7251 3762 
                                             www.alfredhenry.com 
 Hybridan LLP, Corporate 
  Broker 
 Claire Noyce / Darshan Patel           Tel: +44 (0)203 764 2341 
                                                www.hybridan.com

Media enquiries:

 
 Abchurch 
 Rebecca Clube / Julian Bosdet   Tel: +44 (0) 20 7398 7719 
  / Tim Thompson 
 als@abchurch-group.com             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, 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 company news service from the London Stock Exchange

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November 22, 2016 06:30 ET (11:30 GMT)