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Clear Leisure Plc - Reschedule of Loans' Maturity Date

·2-min read

6 October 2020

Clear Leisure Plc
(“Clear Leisure” or “the Company”)

Reschedule of Loans’ Maturity Date

The Board of Clear Leisure (AIM: CLP) is pleased to announce that Eufingest SA (“Eufingest”) has agreed to extend the repayment date of all Eufingest loans advanced to the Company amounting to €3,375,000 and £30,000 (“the Loans”) to 31 October 2020 or such earlier date as may be agreed with the Company.

As previously disclosed in its announcement of 17 August 2020, following the reciept of funds from the Mediapolis court approved settlement, the Company paid €550,000 plus interest of €11,157 to Eufingest. This payment has repaid the loans advanced to the Company by Eufingest announced on 30 July 2019, 16 October 2019 and 18 February 2020.

All other terms and conditions of the Loans remain unchanged. Whilst there can be no certaintanty that Eufingest will continue to extend the repayment date of the Loans, the Board continues to engage in a postive dialogue with Eufingest who has supported the Company over many years and the Board remains confident that Eufingest will continue to do so.

Eufingest is a substantial shareholder of the Company as defined by the AIM Rules for Companies. The extension of the repayment date of the Loans is therefore a related party transaction pursuant to AIM Rule 13 of the AIM Rules for Companies. The directors of Clear Leisure, having consulted with its nominated adviser, consider that the transaction is fair and reasonable insofar as its shareholders are concerned.

Francesco Gardin, Executive Chairman and CEO of Clear Leisure, commented, “I wish to thank Eufingest for its continuous and ongoing support to the Company, as it has demonstrated once again.”

-ends-

For further information please contact:

Clear Leisure Plc +39 335 296573
Francesco Gardin, CEO and Executive Chairman

SP Angel Corporate Finance (Nominated Adviser & Broker) +44 (0)20 3470 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 the management is two-fold: 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 and to seek technology related investments, with special regard to interactive media, blockchain and AI sectors. For further information, please visit, www.clearleisure.co.uk