LONDON (Alliance News) - Clear Leisure PLC on Monday said it has agreed a deal to sell the Altinak Sarl vehicle, which controls the share capital of the Hospitality & Leisure Fund, for EUR500,000.
The company said the realisation on the sale significantly exceeds the funds owed to its short-term creditors, including the sum demanded last week by Westhouse Securities Ltd.
On Wednesday last week, Westhouse filed a winding up petition with the Companies Court in London seeking around GBP100,000 pursuant to unpaid debts owed by Clear Leisure for contractual services.
Clear Leisure said it disputes the claims made and the amount claimed by Westhouse and has been in talks with Westhouse concerning the amount due and settlement terms. It said it is therefore "disappointed" that the winding up petition has been filed but remains optimistic a settlement can be reached.
Clear Leisure shares rose on the sale of the fund, up 15% to 0.750 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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