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 & Stone plc

(''Ace'' or "the Company'')

Result of Open Offer

Ace Liberty & Stone Plc (AQSE: ALSP), the active property investment company capitalising on commercial property investment opportunities across the UK, is pleased to announce that it has received valid acceptances of 12,298,612 Open Offer shares from qualifying shareholders, representing gross proceeds of £3,074,653.

On 21 October 2022, Ace Liberty & Stone announced details of an Open Offer to raise gross proceeds of up to £4,559,708.75 through the issue of a maximum of 18,238,835 new ordinary shares at a price of 25 pence per share. The Open Offer closed for acceptances at 11.00am on 30 November 2022. Applications were received from shareholders for the full amount of the Open Offer. However, under the terms of the offer, the Directors have scaled back the applications for additional entitlements to equal the number of shares which constituted the basic entitlement for each shareholder.

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. A further announcement will be made upon the completion of admission.                                                                                                                                                                                                                                                                            

The £3 million raised provides a strong platform for Ace to continue to build its portfolio and take advantage of potential acquisition opportunities that may arise during the current period of political and economic uncertainty.                                                                                                                                                                                                                                                                         

Ismail Ghandour, Chief Executive Officer, commented:

"The board is very pleased with the result of the Open Offer. The significant sum raised will be carefully invested in new properties as opportunities arise in the next few months."

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For further information, please contact:

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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