Ace Liberty & Stone Plc
LSE : ALSP

January 31, 2011 10:54 ET

Property Transaction



ACE LIBERTY & STONE PLC
PROPERTY TRANSACTION


The  directors of Ace Liberty & Stone Plc ("Ace", the "Company") are delighted to announce that the Company
has today completed the sale for the sum of GBP 3.9 million of the freehold office properties in Sheffield,
which were purchased in October 2010.

After  paying  purchase and sale costs, it is anticipated that the transaction will  realise  a  profit  of
approximately GBP 1.05 million of which Ace is entitled to approximately GBP 0.74m

As  described in our announcement dated 19 October 2010 the investment was made by way of a consortium with
two other partners. Ace had a 70% interest in the special purpose vehicle ("SPV") used for the acquisition.
The purchase, which was completed on 13th October, was at a cost of GBP 2.52m.

As  well  as  recording a useful profit on this investment, the sale generates additional  cash  which  the
Company plans to use for further acquisitions.

The Directors of the Issuer accept responsibility for the contents of this announcement.


FOR FURTHER INFORMATION PLEASE CONTACT:

Mark Eichhorn, Director
Ace Liberty & Stone Plc
Tel: 020 7201 8340

Jon Isaacs
Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Tel: 020 7251 3762





Contact Information

  • Ace Liberty & Stone Plc