CLP.L Regulatory News (CLP)

27 February 2015 Clear Leisure plc ("Clear Leisure" or "the Company) Update The Board of Clear Leisure plc provides an update further to its recentannouncements. In respect of the winding up petition announced on 18 February 2015, theCompany advises that discussions with Westhouse Securities Limited("Westhouse") are proceeding positively and the Board expects to be in aposition to update the market further shortly. Whilst the Company has announced an audited net asset value of EUR 16.9million, as at 30 June 2014, and the forthcoming realisation from the saleAlnitak Sarl ("Alnitak"), the vehicle which controls the entire share capitalof the Hospitality & Leisure Fund ("H&L Fund"), the Company's cash positionremains severely constrained. Accordingly, the Company is seeking to raiseadditional working capital and is in advanced stage discussions with a numberof different parties to a provide short term, secured debt facility.Additionally, the Company has held discussions with certain parties tosubscribe for new ordinary shares conditional on the passing of the resolutionsat the Company's annual general meeting on 11 March 2015 and the withdrawal ofWesthouse's petition. The directors remain positive that additional capital can be raised in theimmediate short term to allow the company to continue to trade. For further information please contact: Clear Leisure plc +39 02 4795 1642Alfredo Villa, CEO Cairn Financial Advisers LLP (Nominated Adviser) +44 (0) 20 7148 7900Jo Turner / Liam Murray Peterhouse Corporate Finance (Broker) +44 (0) 20 7469 0935Lucy Williams / Heena Karani About Clear Leisure Plc Clear Leisure Plc (AIM: CLP) is an AIM listed investment Company pursuing adynamic strategy to create a comprehensive portfolio of companies primarilyencompassing the leisure and real estate sectors mainly in Italy but also otherEuropean countries. The Company may be either a passive or active investor andClear Leisure's investment rationale ranges from acquiring minority positionswith strategic influence through to larger controlling positions. For furtherinformation, please visit, www.clearleisure.com