Clear Leisure Plc Result of Bond Holder Meeting

 
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                                [phone] 
Francesco Gardin, CEO and Executive Chairman 
 
ZAI Corporate Finance (Nominated Adviser)        [phone] 
Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark 
 
Peterhouse Corporate Finance (Joint 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 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

January 03, 2017 02:00 ET (07:00 GMT)