31 Mar 2017 10:10
Clear Leisure Plc - Reschedule of Eufingest Loans Repayment DatesClear Leisure Plc - Reschedule of Eufingest Loans Repayment Dates
PR Newswire
London, March 31
31 March 2017
Clear Leisure plc
("the Company")
Reschedule of Eufingest Loans Repayment Dates
The Board is pleased to announce that the Company has reached an agreement with Eufingest S.A. (“Eufingest”), whereby the repayment dates of EUR 1,271,999 outstanding loans, including interests matured to date, have been rescheduled.
The facilities are now repayable by 31 December 2017 and carry an interest of 2.5%. At any time before 31 December 2017, Eufingest may convert the outstanding balance at the conversion rates previously agreed.
Eufingest is the beneficial holder of more than 10 per cent of the ordinary share capital of the Company. Eufingest is therefore a "related party" for the purposes of the AIM Rules.
The Directors of the Company (each of whom is independent from Eufingest), having consulted with the Company's NOMAD, consider the terms of the transaction to be fair and reasonable insofar as shareholders are concerned.
Eufingest, as the largest shareholder, remains fully supportive of the Board’s efforts to realise value from its investments.
-ends-
For further information please contact:
Clear Leisure plc +39 335 296573
Francesco Gardin, CEO and Executive Chairman
ZAI Corporate Finance (Nominated Adviser) +44 (0)20 7060 2220
Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark
Peterhouse Corporate Finance (Broker) +44 (0) 20 7469 0935
Lucy Williams / Heena Karani
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.com