Clear Leisure Plc - Reschedule of Loan Notes / Mediapolis Funds Update
PR Newswire
London, December 20
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 |
|
| €200,000 | 27 December 2017 | 27 December 2019 | |
| €250,000 | 2 January 2018 | 31 March 2018 |
|
| €200,000 | 3 October 2018 | 31 December 2018 |
|
| €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
