ALSP 1H20A Post Results ACF 11022020
ACE Liberty & Stone (ALSP ISD), a NEX growth market listed property trading company delivered strong operational results with a rise in EBITDA margin as the company digests and consolidates a significant number of property acquisitions over recent periods. Since balance sheet close the share overhang has been significantly eroded by the exercise of warrants and conversion of CLNs leading to a significant increase in shares in issue (hence our lower value range). ACE has also raised over £4.55m in cash through the exercise of options at an average price of 65p per share. We expect these funds to be used for further property investment. Rental run rate now exceeds £6m p.a. The overall strategy to grow the business remains in place after this consolidation phase, if at a potentially less exuberant pace.
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