Issue of Bond Conversion Notice

Clear Leisure Plc - Issue of Bond Conversion Notice

PR Newswire

London, October 1

01 October 2018

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

Issue of Bonds Conversion Notice

Clear Leisure (AIM: CLP) wishes to inform its shareholders that it has issued a Conversion Notice to the holders of its €9.9m Bonds (the “Bonds”).

Under the terms of the Conversion Notice, the Company is using its right to convert Bonds held by Bondholders who do not object to conversion into ordinary shares of Clear Leisure ("Shares").

Such Conversion will take place at the Conversion Price of 4.234 Euro cents, which represents five times the average closing mid-market price for the Shares on AIM in the ten working days immediately prior to the date of the Conversion Notice being 28 September 2018, being 0.752 pence per share converted from sterling into euros at the Company's reasonable assessment of the mid-market exchange rate on that date.

The average closing price was 0.752p per Share on the ten days ending 27 September 2018. Given an exchange rate of GBP/EUR of 1.126 and being five times the price per Share, the Conversion Price is 4.234 Euro cents per Share.

A Bondholder may object to the Conversion Notice within 60 days from the issue date. To the extent that individual Bondholders do not object, the Company may, at its own discretion, convert such Bondholders Bonds into Shares at 4.234 Euro cents per Share. Conversion (if any) will take place 90 days after the issue of the Conversion Notice.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

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For further information please contact:

Clear Leisure PlcFrancesco Gardin, CEO and Executive Chairman+39 335 296573

SP Angel Corporate Finance (Nominated Adviser & Broker)Jeff Keating / John Mackay+44 (0)20 3407 0470

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

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. The Company has recently launched a joint venture initiative in the cryptocurrency mining sector. For further information, please visit, www.clearleisure.co.uk