(Alliance News) - Clear Leisure PLC on Tuesday said it entered into a loan agreement with Switzerland-based shareholder Eufingest SA.
Under the terms of the arrangement, Eufingest will provide the leisure-focused investor with EUR150,000 at an annual interest rate of 2.5%.
"The proceeds of the new facility will be used for working capital purposes. The new facilty provided by Eufingest is in addition to exisiting loans" Clear Leisure explained.
The company has an additional EUR2.5 million loan with Eufingest which matures on April 28.
Clear Leisure shares were 8.9% lower at 0.20 pence each in London on Tuesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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