LinkAce itself does not require a high-performance server to run at. Indeed there is just this PHP app that needs access to a database. However, your environment must fulfill the following requirements to run properly.
There will be no support for environments which do not meet the requirements!
Older PHP versions will not be supported in any way. Please do yourself a favor and do not expose yourself or your users to any risks by using an outdated PHP version.
If you are confident that your environment meets the requirements, continue with the setup: