Appointment of Joint Broker And Update

25 Oct 2013 07:00

25 October 2013

Clear Leisure Plc(“Clear Leisure” or “the Company”)

Appointment of Joint BrokerAnd Update

The Board of Clear Leisure Plc is pleased to announce the appointment of Peterhouse Corporate Finance Limited as joint corporate broker to the Company with immediate effect.

Alfredo Villa said: “We welcome the appointment of Peterhouse Corporate Finance today, given their established reputation for providing innovative restructuring solutions for smallcap quoted companies seeking to restore and build long-term shareholder value.”

Further, from 1 November 2013, Mr Alfredo Villa, CEO and Interim Chairman of the Company, has offered to forgo his salary of £120,000 for a period of one year. Mr Villa has also proposed that the outstanding salary of £85,000 owed to him in this current financial year, ending 31 December 2013, may be written-off or converted into Clear Leisure Plc ordinary shares should the Company undertake a new equity placement at any time in the next 12 months. A further announcement will be made on these proposals in due course. Mr Villa recently made a loan to the Company of EUR 50,000 in conjunction with the external audit of ORH SpA and to expedite the operational recovery of the hotel chain. Mr Villa has agreed to accept repayment of the loan within the next 12 months, or that he may convert this amount into Clear Leisure Plc ordinary shares.

Finally, the Company is currently undergoing a search for a new Chief Executive, who will be responsible for selling some of the larger assets of the Company. Once a new Chief Executive has been appointed, Mr Villa will remain on the board as Chairman.

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For further information please contact:

Clear Leisure Plc +39 02 4795 1642Alfredo Villa, CEO and Interim Chairman

Westhouse Securities (Nominated Adviser and Joint Broker) +44 (0) 20 7601 6100Antonio Bossi / Ian Napier

Peterhouse Corporate Finance (Joint Broker) +44 (0) 20 7469 0935Jon Levinson / Heena Karani

Leander (Financial PR) +44 (0) 7795 168 157Christian Taylor-Wilkinson

About Clear Leisure Plc

Clear Leisure Plc (AIM: CLP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the leisure and real estate sectors mainly in Italy but also other European countries. The Company may be either a passive or active investor and Clear Leisure’s investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions. For further information, please visit, www.clearleisure.com

Copyright Business Wire 2013