20 December
2019
Clear Leisure Plc
(“Clear Leisure” or “the Company”)
Reschedule of
Loans’ Maturity Date
and
Update on
Mediapolis Funds
The Board of Clear Leisure (AIM: CLP) is pleased to announce
that Eufingest SA has agreed to extend repayment of the following
loans amounting to EUR(€)1,300,00 and GBP(£)30,000 to 28 April 2020 (or such earlier date as may be
agreed with the Company):
| Amount |
Date of Loan |
Original Date to
Maturity |
Reschedule Date (if any) |
| €50,000 |
7 December 2017 |
31 March 2018 |
- 30 September 2018
- 31 December 2018
- 31 March 2019
- 31 December 2019
|
| €200,000 |
27 December 2017 |
27 December 2019 |
|
| €250,000 |
2 January 2018 |
31 March 2018 |
- 30 September 2018
- 31 December 2018
- 31 March 2019
- 30 June 2019
- 31 December 2019
|
| €200,000 |
3 October 2018 |
31 December 2018 |
- 31 March 2019
- 30 June 2019
- 31 December 2019
|
| €200,000 |
24 June 2019 |
31 December 2019 |
|
| €250,000 |
30 July 2019 |
30 September 2019 |
31 December 2019 |
| €150,000 |
16 October 2019 |
31 December 2019 |
|
| £30,000 |
16 October 2019 |
31 December 2019 |
|
All other terms and conditions of the Loans remain unchanged.The
Company has an additonal €2.475 million loan with Eufingest which
matures on 28 April 2020; therefore
the total of loans owed to Eufingest by the Company is €3.775
million and £30,000.
Eufingest is a substantial shareholder of the Company as defined
by the AIM Rules for Companies. The extension of the repayment date
of the Loans is therefore a related party transaction pursuant to
AIM Rule 13 of the AIM Rules for Companies. The directors of Clear
Leisure, having consulted with its nominated adviser, consider that
the transaction is fair and reasonable insofar as its shareholders
are concerned.
Further to the announcement of 4 December
2019, the Company has been advised by its Italian law firm
that on 11 December, the amount of €1,940,459.27 was transferred to
the Receiver by the auctioner of the Mediapolis land auction. The
Company has requested the transfer of these fund, less costs, to
Clear Leisure 2017 Ltd.
Francesco Gardin, Executive
Chairman and CEO of Clear Leisure, commented, “I wish to thank
Eufingest for its continuous and ongoing support to the Company, as
demonstrated once again.”
-ends-
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 3470 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 the management is
two-fold: 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 and to seek technology related investments, with special
regard to interactive media, blockchain and AI sectors. For further
information, please visit, www.clearleisure.co.uk