11 October 2017
Clear Leisure Plc
("Clear Leisure", or "the Company")
REMOVAL OF NOMAD STATUS BY THE EXCHANGE
AIM Regulations has informed the Company yesterday, after the market closed, that an announcement was made pursuant to Rule 32 of the AIM Rules for Nominated Advisers ("Nomad Rules"). Pursuant to Nomad Rule 11, the Exchange has determined to remove the nominated adviser status of ZAI Corporate Finance Limited ("ZAI"), Clear Leisure's Nomad, for failure to meet, on a continuing basis, nominated adviser eligibility criteria as set out in Nomad Rule 2.
ZAI will be removed from the register of nominated advisers at 7am, 19 October 2017, so as to provide additional time for those AIM companies for whom ZAI currently provides nominated adviser services, to appoint a new nominated adviser. Accordingly, the affected AIM companies, of which Clear Leisure is one, must appoint a new nominated adviser by this date.
Pursuant to Rule 1 of the AIM Rules for Companies ("AIM Rules"), if no new nominated adviser is
appointed by Clear Leisure by 7am, 19 October 2017, trading of the Company's AIM securities will be suspended on that date until the appointment of a new nominated adviser. If a new nominated adviser is not appointed within one month of suspension (by 20 November 2017), trading in the Company's AIM securities will be cancelled pursuant to AIM Rule 1.
AIM Regulation will liaise with the relevant AIM companies, of which Clear Leisure is one, in respect of their plans and in respect of those companies, will provide to any nominated adviser engaged by 19 October 2017 an expedited process allowing extra time to undertake full due diligence.
Clear Leisure's directors are therefore seeking, as a matter of urgency, to appoint a replacement Nomad as soon as possible. The Board is commitment to act promptly, in order to maintain its listing and announce the appointment of a new Nomad as soon as practical. The Board wishes to make it clear to shareholders that the Company has not been involved in the decision of AIM in this matter.
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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
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.co.uk
