25 July
2017
Clear Leisure plc
("Clear Leisure" or "the Company")
Conversion of
Eufingest Loan Note
Clear Leisure (AIM: CLP), the leisure and property focused
investment company, is pleased to announce that Eufingest SA, the
Company’s largest shareholder, has confirmed that it is converting
EUR 74,830, at a conversion price of
GBP 0.0089 per share, of its
EUR 2,474,830 Convertible Loan Note
(as outlined in the announcement made by the Company on
10 May 2017). The conversion
corresponds to 7,546,155 CLP 0.25p
New Ordinary Shares. The conversion will result in the increase of
Eufingest’s holding in the Company from 26.01 per cent to 27.81 per
cent. following the reduction resulting from the share placing
announced on 17 July 2017.
Following the conversion, the principal of the Convertible Loan
Note due on 28 April 2020 is
EUR 2.4 million.
The new shares will be credited as fully paid and will rank pari
passu in all respects with the existing ordinary shares of
0.25 pence each in the capital of the
Company, including the right to receive all dividends and other
distributions declared, made or paid in respect of such shares
after the date of issue.
Trading in the converted shares will commence on or around
31 July 2017.
The Company's enlarged issued share capital will comprise
310,291,286 Ordinary Shares. This figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
Francesco Gardin, Chairman and
CEO of Clear Leisure, commented, “The conversion agreement with
our largest shareholder Eufingest demonstrates once again its
support for the Company’s strategy.”
-ends-
For further information please
contact:
Clear Leisure plc
Francesco Gardin, CEO and
Executive Chairman
+39 335 296573
ZAI Corporate Finance (Nominated Adviser)
Tim Cofman/Peter Trevelyan-Clark
+44 (0)20 7060 2220
Peterhouse Corporate Finance (Broker)
Lucy Williams / Heena Karani
+44 (0) 20 7469 0935
Leander (Financial PR)
Christian Taylor-Wilkinson
+44 (0) 7795 168 157
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