Clear Leisure Plc - Loan Facility

18 November, 2016

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 300,000 at an interest rate of 2.5 per cent per annum.  The Facility is repayable on 30 April 2017 and the proceeds will be used for working capital purposes and to retire subsidiary bank debt at a discount.

The Company may repay the Facility early at any time without penalty.  At any time before 30 April 2017, Eufingest may convert the outstanding balance of the Facility into Shares at the rate of 0.85 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 and this facility when drawn down will increase the amount outstanding to Eufingest to £ 894,124.00 plus their EUR 3,000,000 holding of bonds issued by the Company.

Francesco Gardin, CEO and Executive Chairman of Clear Leisure, commented, “We will continue to reduce bank debt accrued by certain subsidiaries, which ultimately results in the Group having a stronger consolidated balance sheet.”

-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 

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