ALSP Ace Liberty & Stone

TIDMALSP

RNS Number : 8923F

Ace Liberty & Stone PLC

09 November 2022

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS INSIDE INFORMATION FOR

THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014

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Ace Liberty and Stone plc

("Ace" or "the Company")

Proposed Open Offer of up to 18,238,835 New Ordinary Shares at 25 pence per share

Ace Liberty and Stone Plc (AQSE: ALSP), the active property investment company capitalising on commercial property investment opportunities across the UK, announced on the 21 October 2022 that it will raise up to GBP4,559,708.75 (before fees and expenses) through an Open Offer by way of the issue of New Ordinary Shares at an Issue Price of 25 pence per New Ordinary Share. Following shareholders' requests, the timetable for the Open Offer has been amended and the new timetable is set out below. All other aspects of the Open Offer remain unchanged and details can be found on the company website www.acelibertyandstone.com .

Revised Timetable of Events

 
 Record Date for entitlement to participate             6.00 p.m. on 20 October 
  in the Open Offer                                                        2022 
 Announcement of the General Meeting and 
  Open Offer and dispatch of the Circular                       21 October 2022 
  and the Application Form 
 Expected ex-entitlement date for the                   8.00 a.m. on 21 October 
  Open Offer                                                               2022 
 Basic Entitlements and Excess Open Offer               8.00 a.m. on 24 October 
  Entitlements credited to Stock Accounts                                  2022 
  in CREST of Qualifying CREST Shareholders 
 Latest time and date for receipt of completed        11.00 a.m. on 14 November 
  Forms of Proxy or receipt of CREST Proxy                                 2022 
  Instructions for the General Meeting 
 General Meeting                                      11.00 a.m. on 16 November 
                                                                           2022 
 Recommended latest time for requesting                4.30 p.m. on 24 November 
  withdrawal of Basic Entitlements and                                     2022 
  Excess Open Offer Entitlements from CREST 
 Latest time for depositing Basic Entitlements         3.00 p.m. on 25 November 
  and Excess Open Offer Entitlements into                                  2022 
  CREST 
 Latest time and date for splitting Application 
  Forms                                                3.00 p.m. on 28 November 
  (to satisfy bona fide market claims only)                                2022 
 Latest time and date for receipt of completed 
  Application Forms                                   11.00 a.m. on 30 November 
  and payment in full under the Open Offer                                 2022 
  or settlement of relevant CREST instructions 
  (as appropriate) 
 
 Allotment of New Ordinary Shares                      8.00 a.m. on 14 December 
                                                                           2022 
 Admission of the New Ordinary Shares 
  to trading on                                        8.00 a.m. on 14 December 
  AQSE Growth Market                                                       2022 
 Expected date of dispatch of definitive 
  share certificates for the                                by 21 December 2022 
  New Ordinary Shares in certificated form 
  (certificated holders only) 
 

Admission, Settlement and dealings

The result of the Open Offer is expected to be announced on 14 December 2022. Admission to trading of the New Ordinary Shares on the AQSE Growth Market will take place automatically following an announcement by the Company confirming completion of the Open Offer. It is expected that Admission will become effective and that dealings in the Open Offer Shares, fully paid, will commence at 8.00 a.m. on 14 December 2022.

Ismail Ghandour, Chief Executive Officer, commented:

"The Directors have taken into account shareholder requests to allow more time for completion of applications and, in particular, to allow overseas investors adequate time to remit funds to the UK. The Open Offer will provide Ace with the flexibility to take advantage of opportunities that provide long-term benefits for our shareholders and we look forward to announcing the result of the Open Offer in December."

-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, 
  AQSE Growth Market Corporate Adviser 
 Jon Isaacs / Nick Michaels                  Tel: +44 (0) 20 3772 0021 
                                                   www.alfredhenry.com 
 
 
 SP Angel Corporate Finance LLP 
  Broker 
 Vadim Alexandre / Rob Rees                   Tel: +44 (0)20 3470 0470 
                                                     www.spangel.co.uk 
 

- ends -

The Directors accept responsibility for this announcement.

Notes to Editors

Ace Liberty & Stone Plc is a property investment company with a diverse portfolio of properties located across the UK, predominantly in the midlands and north of England, which are now the focus of Government incentives. The Company locates commercial properties which have creditworthy tenants, several years' rental income and 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 to deploy its strong balance sheet and is 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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