Share Name Share Symbol Market Type Share ISIN Share Description
Clear Leisure Plc LSE:CLP London Ordinary Share GB00B50P5B53 ORD 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.005 -1.69% 0.29 471,000 09:06:01
Bid Price Offer Price High Price Low Price Open Price
0.26 0.32 0.295 0.29 0.295
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 0.01 -3.54 -0.72 2
Last Trade Time Trade Type Trade Size Trade Price Currency
11:49:38 O 100,000 0.2925 GBX

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Trade Time Trade Price Trade Size Trade Value Trade Type
2020-09-22 10:49:380.29100,000292.50O
2020-09-22 08:05:110.27351,000930.50O
2020-09-22 07:31:090.2720,00053.00O
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Clear Leisure (CLP) Top Chat Posts

Clear Leisure Daily Update: Clear Leisure Plc is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker CLP. The last closing price for Clear Leisure was 0.30p.
Clear Leisure Plc has a 4 week average price of 0.28p and a 12 week average price of 0.21p.
The 1 year high share price is 0.41p while the 1 year low share price is currently 0.12p.
There are currently 604,152,600 shares in issue and the average daily traded volume is 689,474 shares. The market capitalisation of Clear Leisure Plc is £1,752,042.54.
knigel: Of course this company has had a mixed history and the bitcoin investment appears a dead duck. I am not someone who only sees 100% positives in any of my investments but neither should one only see 100% negatives .. tbh the share price is near NAV so upside now will only be based on continued new developments. At least the share price is holding which is a good sign I guess for chart readers
knigel: The last time I looked it was around 0.33p. Of course the NAV is a moving target and based on already historic data. However I believe it's higher than the current share price excluding the fact we don't know how much of the claims will be received or how much debt will be converted at a share price premium. Btw I consider trading in high risk shares a gamble IF you don't have a wide range of holdings in your portfolio and long ago acknowledged to myself I had an issue with high risk - there's no harm admitting it Simon ...
spary1: Eezymunny, perhaps I should be consult my solicitors and see where we get on having my investment tarnished by you, it’s clear to see your posts are designed to ruin the share price so please don’t start trying to bully me because it won’t work!! Is that clear ? You turn up on a particular share trying pull the share price down which is clear from your history so do us all a favour chap and jog on
kevjones2: From MSMN BB 01.10.2019: Update: spray's latest lie about manipulation has changed. Remember it was the everybody who was conspiring against MSMN, and then it was the even more ridiculous ONE manipulator of the share price? Well, after my post yesterday spray has almost realised just how insane he sounds so he's changed his story again. Apparently it's now "person/persons" who's ignoring literally thousands of companies worldwide just to concentrate on manipulating farthing share MSMN. Dear oh dear. From MSMN 03.10.2019: Sorry, folks. He's changed his mind yet again. He's losing the plot on the CLP BB on GC* after a very underwhelming RNS which he was ramping earlier. Same ole same ole. Anyway, it's not one person manipulating the share price anymore, it's not 'persons' either anymore. Nope, it's AIM's turn. The clown has gone full circle. Lol. *GC = Goon Central - I'm sure you all know what website that is.
timbo: Hi EM, I'm not a fan of the crowdsourcing sector but that's based on the UK picture. If the Italian flavour is growing strongly then there's a case for it. I like that it is not targeting consumers but "mature" businesses and in 3 sectors which should see growth (real estate, energy and technology). The lending amount between 500K EUR and 1M EUR is an area that many of the smaller banks wouldn't touch even if it looked like a slam dunk business case so there may be a sweet spot there. Basically, if I understand it correctly, we've invested in a shop window which introduces companies to investors so our risk isn't that great and potentially we could also find ourselves with cash/minor stakes for doing that. Maybe next funding round of Geosim could go this route and we could get some fees out of it!The interesting angle might be in FG's comment: "Moreover, the Company envisages situations where it can convert its fees into equity of a target company, as a route to growing its technology portfolio"I note the provision that we might have to stump up more shares if the share price doesn't recover and Forecrowd want to dispose of their holdings. Maybe FG is confident that the share price won't be this depressed in next couple of months even after issuing 54M extra shares for this purchase. Not ramping just hoping!Cryptocurrency - don't know what to expect short term on that...
timbo: You may be right. Fortune Cookie was a Brainspark legacy of course and that claim paid out...I found the other day that you can still download the historic Brainspark accounts from the Clear Leisure website. In those I found several other companies which were sold by Brainspark that had similar "drag along rights" to Fortune Cookie where, if they were sold above a certain value or they reached a certain milestone, additional funds would be paid to Brainspark. So goodness knows what else there might be...FG has stated that legal action would not be launched on a speculative basis but where there was a reasonable chance of success...FG and RE have share options that are underwater at the moment (if I remember rightly they need a share price above 1.25p to be in the money). FG is paid a % on any assets sold or claims realised. Without joining the ramping club I'm happy that they've got enough focus on raising the share price and, as FG put it in the Proactive interview, righting some historic injustices.
90005nelson: Have read back and you'll see Nigel the scummy Weasel is the one who starts the bad language, he's been saying about the NAV to share price for ages but the CLP share price has never ever reflected that. I get called a troll for stating the obvious, a number of long term holders have made this a toxic avoid share. There's no new investors for rinsing so the trades you see are shares just being passed to each other. I'm happy to watch and see it's very predictable what your games are and that's why the market has reflected the CLP share price.
timbo: FROM RKB2018 Review: 5 Euro Bond Holders Part 2 Then in September 2018 the amendments to the conversion of the Euro Bonds were approved and in October 2018 FG issued a notice of conversion to Bond Holders who had to do nothing and their Bonds would be converted to shares or they could object and they would retain their Bonds for a minimum of 4 years and maybe forever. The average 10 day share price was 0.75p and 500% meant a conversion of 3.76p (this is actual price as there were calculation in Euro cents) Some Bond Holders did not object to the conversions and €2.1 million of the Bonds were converted. Now we arrive at the really interesting bit where we actually see hard evidence of what FG actually achieved. FG issued almost 51 million shares (50,992,826) to wipe out €2.1 million of debt. What that really means is that £1,909,091 of debt was converted into shares but FG only issued 51 million shares when technically there should have been 500% more shares issued or 255 million shares. Now as our nominal share vale is 0.25p when you issue the above shares there is an increase in the Nominal Share Capital but this increase is only £127,482 and when you put that on one side of the Balance Sheet you remove from the other side of the Balance Sheet £1,781,609 (£1,909,091 less £127,482) note this £1,781,609 for your own calculations. Another way to look at this partial removal of an Albatross is to do a placing (normally at discount to current share price) and use the proceeds from the placing to re-pay the debt. FG did not issue 255 million shares it was 51 million and our balance sheet has been improved in 2018 by about £1.8 million. So in just three "reviews" we have; "Review 2 Debt Conversion" you will recall you were to note the figure of £171,469. "Review 3 Court Claims and Counter Claims Part 3" you will recall you were to note the figure of £500,000. (Remember we are not including the £650,000 received in January 2019 as that is not part of the 2018 Results) "Review: 5 Euro Bond Holders" we have £1,781,609. RKB PS this is now looking interesting as there are still a few more positives to add in to your calculator. Oops the link for the Albatross should not have been included with the Bitcoin posts.
timbo: FROM RKB2018 Review: 5 Euro Bond Holders Part 1 What FG has managed to achieve with the Euro Bond Holders is unbelievable in my opinion. He has by some astute moves managed to manoeuvre what I would call an Albatross. An Albatross is often described as a deep concern or burden. The reason why I say this is an Albatross is that we had €6.9 million of Euro Bond Debt on our balance sheet. I need to re-cap some details about these Euro Bonds. On 31/12/15 FG managed to reduce the interest rate from 9.5% to 7% and to a new Maturity Date of 15/12/17. On 30/12/16 FG managed to reduce the interest rate from 7% to 1% and to a new Maturity Date of 15/12/18. Then during 2018 FG set about with a carefully thought out plan to remove this Albatross. In May 2018 he held a meeting with the Bond Holders to move the maturity date by 4 years to December 2018 and have the option to convert the Bonds into shares. Then in August 2018 FG called another Bond Holders meeting to change the conversion terms to between 125% and 500% of the 10 day average price. Some Posters still do not really understand why the conversion was set at 125% to 500% but this is all to do with the original conversion price of 15p. Obviously the chance in the past of converting Bonds at 15p seemed inconceivable and as FG has bought debt at about 80% discount (sometimes at 88% discount) he was not going to let Bond Holders receive all their money back so he devised a good business plan (in my opinion) Looking at how this conversion would work on certain share price figures may help you to understand what could happen at a particular share price. If for 10 days the average share price is 3p then the Bonds would convert at 15p (3p x 500%) if we won the lottery (not likely) with the share price 12p then again the Bonds would convert at 15p but this is because the conversion factor would be 125% (12p X 125%) So for FG to really made sure this Albatross is dispatched he would most likely prefer a share price of 3p but as we LTH know that has not happened yet (watch this space and this month) RKB
temmujin: Clear Leisure - Special Situation with huge upside Friday, Feb 07 2014 by Investing Sidekick 0 comments 4 Clear Leisure is a holding company which invests in a range of other companies. This isn't however your typical Investment Trust which holds a portfolio of equities, it has a few concentrated majority stakes in a number of leisure businesses. In this article I will attempt to value the individual businesses and show that the sum of parts far exceeds the current market cap. The business Clear Leisure’s core assets, where the Company owns a majority controlling stake, include a leading Italian hotel management company (Ora Hotels), Italy’s largest sushi restaurant chain (Sosushi), Italy’s most successful water theme park (Ondaland), and a 670,000 sq m (165 acres) tract of real estate, which has been approved for the development of a major theme park, hotel, shopping complex and commercial activities (Mediapolis). Over the years the company has changed its investment strategy and constantly issued shares, mostly to the detriment of existing shareholders. Year Shares Outstanding (adjusted for consolidation) 2005 772 2006 1,323 2007 1,323 2008 1,323 2009 1,351 2010 9,560 2011 27,968 2012 92,327 In 2010 CLP was known as 'Brainspark' (no wonder they changed the name!) and it had Net Asset Value per share (NAV) of 101.5p which fell to 29.6p in 2011. It was at this time that the company changed strategy from having minority stakes in companies to having fewer, but larger stakes in the leisure industry in the Meditarrenean. By 2011 it held all the investments listed above. It has since increased its stake in some companies and looked to sell its stake in Mediapolis (this was hoped to be completed by 2012 but still hasn't). Over 2012 it made several new issues of shares to increase its stakes at prices per share ranging from 10p to 16p (current share price is 2p). The Chairman of the company at the time was Alfredo Villa, and he held 13.2% of the company. His background is in options trading, where he was a technical analyst. Other members of the board, including the CEO are also members of the boards of the companies they invest in. In my opinion this gives them a conflict of interest, to continually inject capital into poor businesses. Later in 2012 the share issues continued in exchange for stakes in the businesses, with the price of new issues falling to 5p a share. This wasn't consistent though, with new shares changing hands at all sorts of different prices. Then a new face emerged, Luke Johnson bought a £1m stake in the company and became chairman. He is a prolific manager of big UK chains such as Giraffe restaurants. He made some good changes to the group, but that couldn't prevent the NAV per share in 2013 falling from 29.6p to 13.3p. Its main holdings are not thoroughly segmented in the annual reports, but this is what I have gathered on the financial condition of each. More details of the operations of these companies can be found in this research report. Ora Hotels (ORH) CLP owns 73% of ORH. Its stake was recently increased as a result of the sale of a hotel development in Mozambique to Mr Presti, a director and shareholder of ORH, in return for shares representing approximately 16% of ORH. ORH has subsequently cancelled the shares received as consideration. Following the transaction, Mr Presti no longer has a shareholding in ORH and has left the board of ORH. I don't really know what to think of the transaction. This RNS release gives some details of ORH, the 16% stake was traded for a hotel in development which had €650k spent on it. If that is used as a yardstick it would value ORH at €4m. I think that's likely to be a maximum value given an insider would not voluntarily short change themself, most likely the opposite. In 2012 it recorded revenues of €46.7m (2011: €37.9m), EBITDA of €1.52m (2011: €0.23m) and a consolidated profit of €0.69m (2011: loss of €0.15m). But the plot thickens, recently CLP has taken legal action against ORH because it financial irregularities and is trying to reclaim all the money it has invested in it. This RNS release states that the CLP shares ORH holds (which were used by CLP to acquire the stake) will be transferred back to CLP. That means the free float of share will be reduced by 14.4m, or 7.3%. Hence this stake is worthless, but the outstanding shares can be reduced by this amount. Sosushi Italy's main Sushi chain has many similarities to the chain Yo Sushi. Its latest results available show it earned €52k on €1.7m of revenues. This was an increase from a loss of €500k on €1.0m in revenues from 2011. Such impressive growth usually attracts high premiums, but I like to be more conservative. A multiple of 15x earnings seems appropriate to me, that values it at £1.2m. Sipiem CLP owns 50% of Sipiem. Financials on this company are hard to find. In the year ending 31 December 2011, Sipiem reported revenue of €2.2m and net profit of €0.1m which is the latest information I could find. But other investors did put €7m into the company in 2012. So I don't think it's worthless but neither do I want to put a significant valuation on a company that makes little profits. I will value CLPs portion at £1m which I think has an adequate margin of safety given it recently had €7m of cash on the balance sheet as well as an operating business. CLP also recently increased its holding at a price that valued the company at around €8m. Mediapolis CLP has been trying to sell this development project for years, they own a 69.5% stake in it. Deals have fallen through due to lack of mortgage financing, as well as deals rejected because the board wants payment in cash and not shares. CLP has made a proposal to restructure Mediapolis debt and this has recently been well received by the courts so looks promising. This announcement values the company at €23.6m. But they have also had two cash offers for the company (finally!) for €20m (£16.5m). I don't think it's unfair to take this as the value given the two offers, so CLP's stake is worth £11.5m. Other companies CLP also has holdings in other companies. Some it only has minority stakes and wishes to hold, others are up for sale but have been for years. I am not going to attach any value to these other holdings as they are small and even more difficult than the rest to value. Conclusion Market Cap: £4.2m Reported Net Asset Value: £25.27m CAGR (NAV per share): -49% p.a. Valuation: £13.0m Upside: 210% The sale of the Mediapolis investment should act as a catalyst for investors realising the hidden value in these shares. The board has stated they intend to reinvest the proceeds into new acquisitions which isn't particularly pleasing to my ears, but is to be expected of an Investment Company. But this company isn't without its risks, the biggest of which to me is that the company needs to continually issue new shares in order to stay solvent as its assets are not cash generating. Because of this requirement they have had to continually issue shares at a discount and that is why long term shareholders have seen shareholder value destroyed. If the Mediapolis sale does not go ahead it is likely another diluting share issue will take place. Despite this, and the atrocious performance of this fund in the past, I still think it is deeply undervalued due to the Mediapolis investment in particular, two cash offers is hard to ignore. Disclosure: I am long CLP
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