Clear Leisure Plc Result of Bondholder Meeting
19 June 2018 - 8:45PM
UK Regulatory
TIDMCLP
19 June 2018
Clear Leisure Plc
("Clear Leisure" or "the Company")
Result of Bondholder Meeting
Clear Leisure is pleased to announce that, at the meeting of its bondholders
held today at the Company's registered office at 22 Great James Street, London
WC1N 3ES, the resolutions announced on 11 May 2018 in respect of its EUR9.9
million Bond (the "Bonds") were passed. Under the new terms of the Bonds, the
final maturity date has been extended to 15 December 2022 and the Company is
now able to convert the Bonds into new ordinary shares of 0.25p each.
Based on the EUR6.9 million of Bonds in issue today, the Company will pay
approximately EUR7.4 million at the new maturity date.
Eufingest, which holds 43.48% of the Bonds, is a substantial shareholder of the
Company's issued share capital as defined by the AIM Rules for Companies. The
amendments to the terms of the Bonds is therefore a related party transaction
pursuant to Rule 13 of the AIM Rules for Companies. The directors of the
Company (each of whom is independent of Eufingest), having consulted with the
Company's Nominated Advisor, consider the alteration of the terms of the Bonds
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, allowing Clear
Leisure to convert the Bond and extend its maturity."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
until the release of this announcement.
-ends-
For further information please contact:
Clear Leisure Plc
Francesco Gardin, CEO and Executive Chairman
+39 335 296573
SP Angel Corporate Finance (Nominated Adviser & Broker) +44 (0)20 3407
0470
Jeff Keating / John
Mackay
Leander (Financial PR)
+44 (0)
7795 168 157
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.co.uk
END
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