Clear Leisure Plc Debt buy-back
September 23 2016 - 5:55AM
UK Regulatory
TIDMCLP
23 September 2016
Clear Leisure plc
("Clear Leisure", "the Group" or "the Company")
Debt buy-back
Clear Leisure (AIM: CLR), the leisure and property focused investment company,
is pleased to announce it has entered into a binding agreement with an Italian
bank to buy back EUR1.3 million of debt of one is its subsidiaries at a 76%
discount. A consideration schedule has been agreed with the bank.
This represents a pro-rata improvement of approximately EUR800,000 (GBP 690,000)
in the Company's consolidated balance sheet, or circa 0.24p per share.
Further negotiations with other Italian banks to buy back subsidiaries' debt at
a discount are now being progressed and the board will update the market when
it is appropriate to do so.
Francesco Gardin, Chairman and CEO of Clear Leisure, commented, "We have taken
this opportunity to materially strengthen our balance sheet by reducing the
amount of debt held by some of our subsidiary investee companies at a
significant discount. This will serve to significantly reduce our annual
outgoing liabilities, enhancing Clear Leisure' position of strength when
negotiating further asset sales and debt recoveries. We see this as yet another
step in preparing the Company for its future, as outlined in our 12th September
statement to the market."
-ends-
For further information please contact:
Clear Leisure
plc
+39 335 296573
Francesco Gardin, CEO and Executive Chairman
ZAI Corporate Finance (Nominated Adviser)
Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark
+44 (0)20 7060 2220
Peterhouse Corporate Finance (Joint Broker)
+44 (0) 20 7469 0935
Lucy Williams / Heena Karani
Cadogan Leander (Financial PR)
+44 (0) 7795 168
157
Christian Taylor-Wilkinson
About Clear Leisure Plc
Clear Leisure plc (AIM: CLP) is an AIM listed investment company with a
portfolio of companies primarily encompassing the leisure and real estate
sectors mainly in Italy. The Company may be either a passive or active investor
and Clear Leisure's investment rationale ranges from acquiring minority
positions with strategic influence through to larger controlling positions. For
further information, please visit, www.clearleisure.com
END
(END) Dow Jones Newswires
September 23, 2016 05:55 ET (09:55 GMT)
Quantum Blockchain Techn... (LSE:QBT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Quantum Blockchain Techn... (LSE:QBT)
Historical Stock Chart
From Apr 2023 to Apr 2024