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Clear Leisure plummets as Italian travel unit suspends operations

Tue, 22nd Oct 2013 15:18

Italy-focused investment group Clear Leisure lost almost half of its value on Tuesday after its majority-owned travel division ORH was forced to temporarily suspend operations.The company said that the decision was due to a number of factors affecting its African hotel subsidiaries as well as the wider hotel group, in which it owns a 73.43% interest.It explained: "The suspension follows the recent terrorist attack in Kenya and the killing of French and Italian tourists in Madagascar which, combined with lower demand and the subsequent fall in the selling price of holidays due to continuous deterioration of the Italian economy and reduction in consumer spending, has left the hotel group under a high level of financial pressure."Clear Leisure said it made this "direct action" to reduce any financial risk to its shareholders.It also said that it had found a number of "financial irregularities" within its African subsidiaries which are currently being investigated by external consultants.The stock was down 44.66% at 1.61p by 15:15 on Tuesday afternoon.BC
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27 May 2014 14:43

Clear Leisure acquires Hospitality and Leisure Fund

Leisure investor Clear Leisure has acquired an Italian real estate fund, owner of four holiday resort hotels, in anticipation of a recovery in the region in the next two years. Clear Leisure, formerly named Brainspark, said it bought a 100% interest in the Hospitality & Leisure Fund for an unspeci

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14 Apr 2014 08:26

Clear Leisure expects answer on Mediapolis by end of April

Clear Leisure, the AIM-listed investment company currently involved in court proceedings relating to its proposal for the restructuring of its troubled Mediapolis business, said it has presented all the relevant documentation and financial warranties to the Ivrea court on schedule. The group said

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18 Mar 2014 13:09

UK MIDDAY BRIEFING: Sainsbury's Sales Slow But Won't Join Price War

LONDON (Alliance News) - J Sainsbury PLC reported its first sales fall in nine years for the fourth quarter of its financial year, but Chief Executive Justin King said the grocer will not get caught up in the price war within the UK supermarket sector and will ensure competiti

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18 Mar 2014 11:57

UK WINNERS & LOSERS: Cairn Energy Falls 12% As It Swings To Loss

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.

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FTSE 100 - WINNERS

J Sainsbury, up 0.8%. The food retailer is the latest of the big UK supe

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18 Mar 2014 10:48

UPDATE: Clear Leisure Up As It Gets GBP10 Million Credit Line

LONDON (Alliance News) - Clear Leisure PLC saw its shares rise Tuesday after it got a GBP10 million two-year credit line from GEM Global Yield Fund Ltd, a facility that provides it with funds for working capital, fire power for potential acquisitions, and which may also be used to support debt re

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18 Mar 2014 10:44

Clear Leisure Up As It Gets GBP10 Million Credit Line

LONDON (Alliance News) - Clear Leisure PLC saw its shares rise Tuesday after it got a GBP10 million two-year credit line from GEM Global Yield Fund Ltd, a facility that provides it with funds for working capital, fire power for potential acquisitions, and which may also be used to support debt re

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27 Feb 2014 14:38

UK MIDDAY BRIEFING: Shareholder Payouts Rise As Recovery Takes Hold

LONDON (Alliance News) - A large number of companies resumed or hiked shareholder payouts on the biggest day of the UK earnings season Thursday, as earnings generally headed higher thanks to the gradual economic recovery in 2013.

Housebuilders Barratt Developments and Redrow both re

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27 Feb 2014 12:12

UK WINNERS & LOSERS: RBS Shares Fall 8.7% As It Records Wider Loss

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.

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FTSE 100 - WINNERS

Capita, up 5%. The British outsourcing company said its 2013 pretax pro

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27 Feb 2014 11:12

Clear Leisure Pledges Special Dividend If Mediapolis Sale Works Out

LONDON (Alliance News) - Clear Leisure PLC saw its shares rise Thursday after saying it will pay a special dividend worth GBP4 million if the Italian courts allow its Mediapolis SpA subsidiary to complete a proposed debt restructuring, allowing Clear Leisure to sell its stake in the unit to one o

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12 Feb 2014 13:46

UK MIDDAY BRIEFING: UK Interest Rates To Stay Low For Some Time

LONDON (Alliance News) - Bank of England Governor Mark Carney Wednesday said the central bank still thinks interest rates will have to remain where there are for some time for come, as he changed the bank's trigger for discussing rate rises to the takeup of "spare capacity" in the economy rath

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12 Feb 2014 11:47

UK WINNERS & LOSERS: Tullow Oil Slides As 2013 Profits Drop

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.

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FTSE 100 - WINNERS

Babcock International Group, up 2.4%. The company has confirmed its jo

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12 Feb 2014 08:45

Clear Leisure plunges on ORH liquidation plan

Shares in investment company Clear Leisure slumped on Wednesday after announcing its decision to liquidate ORH SpA, its 73.43 per cent-owned hotel and travel business. The decision came after the discovery by the company of a sizable, undisclosed debt position mainly on the African hotels under OR

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22 Nov 2013 11:54

UK WINNERS & LOSERS: Whitbread Leads Blue-Chip Risers On Upgrade

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22 Nov 2013 11:53

CORRECT: Clear Leisure Jumps After Generali Investimenti Bids For Mediapolis

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22 Nov 2013 08:17

Clear Leisure Jumps After Generali Investimenti Bids For Mediapolis

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