CLP.L Regulatory News (CLP)

05 June 2018

Clear Leisure Plc

(the "Company")

Bondholder Meeting Update

On 11 May 2018, the Company announced that it had written to holders of its EUR 9.9 million Bond (the "Bond"), due on 15 December 2018, convening a meeting today at 10am at the Company's registered office at 22 Great James Street, London, WC1N 3ES.

As announced on 11 May 2018, the Bondholders' meeting requires a quorum of 75% of the Bond's principal value. Insufficient Bondholders were present at today's meeting to form a quorum. The Meeting was therefore adjourned until 10am on 19 June 2018 at the Company's registered office.

The quorum requirement at the adjourned meeting is reduced to such Bondholders representing 25 per cent of the principal value. 

The Company notes, however, that the majority of Bondholders who were present at today's adjourned meeting indicated that they wished to vote in favour of the proposed resolutions allowing the Company to:

- amend the final maturity of the Bonds from 15 December 2018 to 15 December 2022; and

- permit the Company to convert Bonds into new Clear Leisure ordinary shares.

Bondholders who wish to vote and whose Bonds are held in the name of a broker, dealer, commercial bank, trust company or other nominee institution (including as CDIs) must contact such nominee promptly and instruct or make arrangements with such nominee to vote in accordance with the customary procedures of the Clearing Systems on behalf of the Bondholders. Proxies are due no later than 10am on 18 June 2018.

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For further information please contact:

Clear Leisure Plc +39 335 296573

Francesco Gardin, CEO and Executive Chairman

SP Angel Corporate Finance (Nominated Adviser & Broker) +44 (0)20 3407 0470

Jeff Keating / John Mackay

Leander (Financial PR) +44 (0) 7795 168 157

Christian Taylor-Wilkinson

About Clear Leisure Plc

Clear Leisure plc (AIM: CLP) is an AIM listed investment company with a portfolio of companies primarily encompassing the leisure and real estate sectors mainly in Italy. The focus of management is to pursue the monetisation of all of the Company's existing assets, through selected realisations, court-led recoveries of misappropriated assets and substantial debt-recovery processes. For further information, please visit, www.clearleisure.co.uk