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 (£671,000).
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
Francesco Gardin, CEO and Executive Chairman |
+39 335 296573 |
ZAI Corporate Finance (Nominated
Adviser)
Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark |
+44 (0)20 7060 2220 |
Peterhouse Corporate Finance (Joint
Broker)
Lucy Williams / Heena Karani |
+44 (0) 20 7469 0935 |
Cadogan 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 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