Clear Leisure Plc Loan Facility

 
TIDMCLP 
 
28 October, 2016 
 
                               Clear Leisure plc 
 
                      ("Clear Leisure" or "the Company") 
 
                LOAN FACILITY FOR EUR 50,000 FROM RELATED PARTY 
 
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 50,000 at an interest rate of 2.5 
per cent per annum.  The Facility is repayable on 31 December 2016. 
 
The proceeds of the Facility will be used to fund subsidiaries costs. 
 
The Company may repay the Facility early at any time without penalty.  At any 
time before 31 December 2016, Eufingest may convert the outstanding balance of 
the Facility into Shares at the rate of 0.75 pence per Share. 
 
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. 
 
Francesco Gardin, CEO and Chairman of Clear Leisure, commented, "We are pleased 
to have secured this loan from one of our longest standing shareholders and 
which will enable us to continue the process of restructuring the Company to 
help us realise the value of our non-core assets." 
 
                                    -ends- 
 
For further information please contact: 
 
Clear Leisure plc                                 [phone] 
Francesco Gardin, CEO and Executive Chairman 
 
ZAI Corporate Finance (Nominated Adviser)         [phone] 
Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark 
 
Peterhouse Corporate Finance (Broker)             [phone] 
Lucy Williams / Heena Karani 
 
Cadogan Leander (Financial PR)                    [phone] 
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 
 
 
 
END 
 

(END) Dow Jones Newswires

October 28, 2016 02:00 ET (06:00 GMT)