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
  0.00 0.00% 0.31 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
0.30 0.32 0.31 0.31 0.31
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
- O 0 0.00 GBX

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DateSubject
22/7/2019
09:20
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 0.31p.
Clear Leisure Plc has a 4 week average price of 0.28p and a 12 week average price of 0.28p.
The 1 year high share price is 1.05p while the 1 year low share price is currently 0.28p.
There are currently 604,152,600 shares in issue and the average daily traded volume is 3,447,311 shares. The market capitalisation of Clear Leisure Plc is £1,872,873.06.
08/7/2019
13:09
knigel: A CEO cannot control the share price. You only need to look back to see that the share price has had good periods and bad periods with or without news.
07/7/2019
21:31
johncasey: yeah but share price more than doubled when they first mentioned they were bitcoin mining..imagine what would happen if they said it again..profits coming in for the first time in clp's history
06/7/2019
10:21
timbo: I don't follow your logic. Your argument seems to run "Man gets paid for half his salary in shares rather than cash, has share options at exercise price much higher than present price and yet deliberately trashes share price leaving himself worse off as a result."You and I might think he should have restarted mining but to accuse him of fraud because he hasn't is frankly really silly John. That's emotion talking not logic. Bitcoin was always a smaller part of the jigsaw anyway - I'd be happier if our BOD skewed their time and effort to the bigger bits of the jigsaw which are worth millions rather than tens of thousands...
21/6/2019
11:22
timbo: FROM RKB 2018 Review: 9 PBV Monitor Part 1 This PBV Monitor I believe will be the key to enhancing our NAV and a very clever move by FG in my opinion. Almost at the end of December 2018 we were informed about our 10% initial stake in PBV Monitor. FG took a £278,750 stake of 10% in exchange for 35,365,389 CLP shares. This was at a premium 21% to the share price the previous day. “PBV Monitor ... an Italian company specialising in the acquisition and dissemination of data for the legal services industry, utilising proprietary market intelligence tools and dedicated search software”. “Over the past four years, PBV, trading under the brand of “PBV & Partners”, has assembled and analysed the activity of over 8,600 law firms worldwide and over 100,000 business lawyers in 100 jurisdictions, producing approximately 43,000 articles that have regularly been published on the Global Legal Chronicle (globallegalchronicle.com), a trusted news source for lawyers and businesses, available in English, Italian and French”. “PBV processes approximately 12 thousand corporate transactions per year. Relevant information such as details of the law firms, partners, junior lawyers and corporates involved in each transaction and the size of the deal is stored to offer the users of its web platform (www.pbvmonitor.com) an accurate and informative environment, with tools and preliminary insights, to effectively identify and compare law firms”. “As part of the investment agreement, Clear Leisure will be granted a seat on the board of PBV, will be appointed as exclusive advisor to PBV regarding the possible sale of PBV from 1 January 2020 for a period of four years will be entitled to a 4% commission fee on the proceeds of any sale”. How I read this investment is that CLP will increase their shareholding up to 29.9% of PBV Monitor and as stated in the RNS, FG will be our appointed director from January 2020 and with the possibility of a sale within four years then CLP will receive 4% of the proceeds. At our initial investment of £278,750 that puts an immediate value of £2.79 million on PBV Monitor and this is before any real income is achieved through the subscriptions. RKB
19/6/2019
09:26
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. https://www.merriam-webster.com/dictionary/albatross
19/6/2019
09:26
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
12/5/2019
00:16
johncasey: there is a company on AIM market in the UK that mines bitcoins..its share price at all time low at 0.42p..its name is Clear Leisure the ticker is CLP..on monday the price will rocket but if you are quick at 8am you should get in at a good price ive spammed this across multiple youtube bitcoin channels
24/11/2018
12:17
timbo: Not convinced by your assumption that you can just remove the Sipiem/Ondaland debtor from the balance sheet. CLP's right to a share in the assets and the profits of the profitable Ondaland has been established through the courts over the last couple of years. This has been rumbling along in the background without much noise but I'm not sure you can treat it as a debt that will never be repaid. Even if the cash doesn't roll in to clear the debt in one lump there are other alternatives that can be enforced through the courts if necessary such as a greater share of equity going forward and pursuing the debt with the threat of winding up just as a creditor did with Mediapolis. I'm also encouraged by the latest developments in the Justin Cooke / WPP case where the court recognised there is a case to answer and ordered the defendants to pay the costs of their action to try and have it thrown out - I would be very surprised if that comes to court...You will also be aware of the imminent bondholder conversions that, if agreed, will wipe a large chunk of the debt off the balance sheet. We'll find out soon how many have agreed a conversion of their debt into shares at more than 5 times the current share price. At the end of this month CLP will know which bondholders (if any) have objected and any conversions will be done by the end of December.With Mediapolis, even if the current appeal doesn't go in CLP's favour, there are still the sales of the 10 Sardinian villas to go through and out of the estimated proceeds of 5M euros CLP are in line for about 80% as an unsecured creditor (as well as any shortfall in their first charge not realised from the Mediapolis auction) - these assets rightly haven't appeared on the balance sheet since the Mediapolis liquidation but they do exist as a claim in the ongoing Mediapolis liquidation.The other court cases may or may not result in funds coming into CLP but the reason why I don't apply a zero valuation is due to the above facts which are in the public domain.
29/9/2017
06:27
temmujin: off topic but report by mrbeekeeper...maybe worth a side punt? RKBeekeeper Investment Case: Zanaga Iron Ore Company (ZIOC) Wednesday, Sep 06 2017 by Ash Deans 0 comments 3 Every now and then I come across a share that I was not expecting to find and that I’ve never heard anything about before, this is a classic example of one of those shares. Yesterday Zanaga Iron Ore Company popped up on my radar due to a very strange action in the share price and some very large trades moving through a stock that typically sees very few trades per day. This much un-loved stock may actually prove to be one of AIMs biggest movers this year! Let’s start with the fundementals Shares in issue: 279m Free Float: Approx: 75m (27%) Current MCap: £17m 52 Week High: 212p 52 Week Low: 4.6p All-time High: 212p (No dilution since this high!) All-time Low: 1.35p Cash in Bank: Approx $4.5m Zanaga Project Details The bare fact is that the company sits with a mineral resource situated in the Republic of Congo that is one of the world’s largest with up to 6.9bn tonnes and of which 2.1bn is iron ore at a 66% fe. These figures have been produced in compliance with the key JORC code and the iron ore NPV (after financing and net of production and transportation) has been valued at anywhere up to $966m net to ZIOC based upon the current iron price of approx $55/tonne. (If the price of Iron Ore moves back closer to the $80 range then this puts the value up to $1.4bn!!) The project is a 50/50 collaboration with Glencore ($40bn Mcap), with Glencore hold 1 share more than Zanaga to give them control of the project. Zanaga management have been playing the long game this last two years, steadily progressing the project through, in the most important instance, the ratification of its Mining Convention and the lodging of the Environmental Permit that is now VERY OVERDUE and that will be another potential major milestone in the progress towards exploitation of this world class ore resource. Next Catalyst This project is waiting on the Environmental Permit to be obtained, this was expected at the end of the 2016 fiscal year which means it is now several months overdue and can land any day now! Once the permit has been agreed this could spark a chain of events that will send this share price on a crazy journey. With the permit in place I would expect ZIOC to look at selling their stake in the project and due to Glencore’s huge success over the past couple of years they are now in a cash rich position and according to their chairman they are looking to buy out projects that they already have a stake in. “We are looking for opportunities around,” he said, adding Glencore was particularly interested in assets where it already had stakes or partnerships. This would put ZIOC firmly on their radar, the only outstanding issue being the Environmental Permit which should land very soon. My View: What happens next Based on my research I strongly believe that once the Environmental Permit has been obtained ZIOC will look to sell their half of the project, either to their partner Glencore or to another party, potentially a Chinese interest as there have been rumours of interest from China in the past. This is backed up by the share transfer announced on the 3rd April 2017, which I believe was to get everything ready for the sale of the asset. I also see the directors holding a huge percentage of the shares in issue here which is a sign of confidence in my mind that they know what is coming. It would not surprise me if the deal is already in place and the permit being obtained is the catalyst to finalise it. In regards to the price for the sale of the asset, based on it being one of the world’s leading iron ore assets I would be surprised if it were to sell for less than $100m (fire sale price), with my estimate being somewhere between $200m-$300m. When you compare this to the current Mcap of £17m you can see the huge value here! The Mcap appears to only be this low as it is so far off people’s radars at the moment and the overdue nature of the Environmental Permit. Downsides? Are there any risks here? Of course, as with all shares there is a potential risk here that there will be further delay in the Environmental Permit, or that it might not be granted. However, given that all other permits and licenses have been obtained I see this as extremely unlikely. The risk to reward here is huge in my mind. Very low risk, massive reward. Targets The movement in the share price here is going to be driven by the Environmental Permit being obtained… On that news I would expect the share price to move to around 50p per share (600%+ Rise) I would then expect the share price to continue to rise up to the point of the asset sale, which would likely be over £1 per share (1300%+ Rise) Due to the Very Low free float in this share it moves incredibly quickly which will make it very difficult to by once the RNS lands so this is one you want to be in before the news lands. If you wish to check the figures here in this post then I suggest you take a look at the most recent investor presentation here to get an understanding of the size of this asset: hxxp://www.zanagairon.com/pdfs/ZIOC-Investor-Presentation_21-Sept-2016.pdf The share price at the time of writing this post was 6.125p Note: I have emailed the company to obtain answers to a couple of outstanding questions. I will update this post once I get a reply.
08/7/2017
18:11
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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