(Alliance News) - Italy-focused leisure, real estate and cryptocurrency investor Clear Leisure PLC said Wednesday it has secured new loan facilities from a major shareholder for working capital needs, whilst also extending the maturity of an existing loan.
Eufingest SA, which holds a 13% stake in Clear Leisure, agreed to provide a EUR150,000 and GBP30,000 facility at an interest rate of 2.5% per year with repayment due at the end of 2019. The funds will be used for working capital purposes.
In addition, Eufingest agreed to extend the repayment date for an existing EUR250,000 loan note which was initially announced in July. The repayment date was initially set for the end of September, it has now been extended to the end of December.
All told, Clear Leisure holds loans from Eufingest worth a combined EUR3.7 million.
Shares in Clear Leisure were untraded at 0.20 pence in London on Wednesday.
By Ahren Lester; ahrenlester@alliancenews.com
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