3 February
2017
Clear Leisure
plc
("Clear Leisure" or "the
Company")
LOAN FACILITY
The Board is pleased to announce that the Company has entered
into an unsecured convertible loan facility agreement (the
Facility") with Eufingest S.A ("Eufingest"), a Swiss investor and
major shareholder in the Company.
Under the Facility, Eufingest provides EUR 60,000 at an interest rate of 2.5 per cent
per annum. The Facility is repayable on 31 March 2017 and the proceeds will be used for
working capital purposes.
The Company may repay the Facility early at any time without
penalty. At any time before 31
March 2017, Eufingest may convert the outstanding balance of
the Facility into Shares at the rate of 0.85
pence per Share.
Including today’s loan facility, the total of loans outstanding
with Eufingest is now EUR
1,168,389.90, including interest. This amount excludes any
holding by Eufingest in the Company’s bonds.
Eufingest is the beneficial holder of more than 10 per cent of
the ordinary share capital of the Company. Eufingest is
therefore 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
terms of the transaction to be fair and reasonable insofar as
shareholders are concerned.
Eufingest, as the largest shareholder, remains fully supportive
of the Board’s efforts to realise value from its investments.
-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 (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 focus of management is to pursue
the monetisation of all of the Company’s existing assets, through
selected realisations, court-led recoveries of misappropriated
assets and substantial debt-recovery processes. For further
information, please visit, www.clearleisure.com