Clear Leisure Plc Result of Bond Holder Meeting
January 03 2017 - 2:00AM
UK Regulatory
TIDMCLP
3 January 2017
Clear Leisure plc
("Clear Leisure", "the Group" or "the Company")
Result of the Bond Holders Meeting
Clear Leisure is pleased to announce that at the meeting of bondholders held on
30 December 2016, at the Company's registered office at 22 Great James Street,
London WC1N 3ES, to vote on its EUR 9.9 million Bond (the "Bonds"), due 15
December 2017, all the resolutions were passed. Under the new terms of the
Bonds the final maturity date is 15 December 2018 and the interest has been
reduced from 7% to 1%.
Based on the EUR 6.9 million of Bonds in issue today, the Company will achieve
an interest saving of EUR 792,000 (GBP671,000).
Eufingest is the beneficial holder of more than 10 per cent of the ordinary
share capital of the Company and, together with its related parties, is a
substantial holder of the Bonds. Eufingest is a "related party" for the
purposes of the AIM Rules. The Directors of the Company (each of whom is
independent from Eufingest), having consulted with the Company's NOMAD,
consider the alteration of terms to be fair and reasonable insofar as
shareholders are concerned.
Francesco Gardin, the CEO and Chairman of the Company commented: "I am pleased
to announce we have completed the restructuring of the Bond interest and
maturity date, allowing Clear Leisure to materially reduce the cost of its debt
instrument and extended its maturity."
-ends-
For further information please contact:
Clear Leisure plc +39 335 296573
Francesco Gardin, CEO and Executive Chairman
ZAI Corporate Finance (Nominated Adviser) +44 (0)20 7060 2220
Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark
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
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