Clear Leisure Plc - Extension of Eufingest Loans
PR Newswire
London, June 3
4 June 2020
Clear Leisure Plc
("Clear Leisure" or "the Company")
Reschedule of Loans' Maturity Date
The Board of Clear Leisure (AIM: CLP) is pleased to announce that Eufingest SA ("Eufingest") has agreed to extend repayment of the following loans amounting to €3,925,000 and £30,000 to 30 September 2020 or such earlier date as may be agreed with the Company, (altogether the "Loans"):
| Amount | Date of Loan | Interest Rate | Convertible | Original Date to Maturity | Reschedule Date (if any) |
| €2,475,000 | 28 April 2017 | 1% | YES | 28 April 2020 | |
| €50,000 | 7 December 2017 | 2.5% | YES | 31 March 2018 |
|
| €200,000 | 27 December 2017 | 2.5% | YES | 27 December 2019 | 28 April 2020 |
| €250,000 | 2 January 2018 | 2.5% | YES | 31 March 2018 |
|
| €200,000 | 3 October 2018 | 2.5% | NO | 31 December 2018 |
|
| €200,000 | 24 June 2019 | 2.5% | NO | 31 December 2019 | 28 April 2020 |
| €250,000 | 30 July 2019 | 2.5% | NO | 30 September 2019 |
|
| €150,000 | 16 October 2019 | 2.5% | NO | 31 December 2019 | 28 April 2020 |
| £30,000 | 16 October 2019 | 2.5% | NO | 31 December 2019 | 28 April 2020 |
| €150,000 | 18 February 2020 | 2.5% | NO | 30 June 2020 |
All other terms and conditions of the Loans remain unchanged.
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.
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
