RE: Quantum Computing £2.5 Billion15 Mar 2023 22:44
Apologies: Total bond debt is €8.2m and eufingest holds €6.4m ( see below)
"The board of Clear Leisure (AIM: CLP) is pleased to announce that the Company has entered into a binding agreement with Eufingest SA (“Eufingest”) to convert all Eufingest's outstanding loans plus accrued interest to date, amounting to €3,423,707 (the “Eufingest Loans”) into either the Company’s Zero Coupon Bond or a new, similar bond security (“the Bond”) with a maturity date of 15 December 2022 and a yield to maturity of 1%.
As part of the agreement with Eufingest, the Company will provide a security over any proceeds arising from the Company’s claim against Sipiem (referred to most recently in the Company's announcement of 27 October 2020). It has also been agreed that Eufingest will have the right to convert, at any time, the Bond into new Clear Leisure ordinary shares at a conversion price of 1p per ordinary share.
Eufingest already holds €3m of the Zero Coupon Bond the total face value of which currently in issue is €4.8m."