Clear Leisure Plc - Placing to Raise £680,000

Clear Leisure Plc - Placing to Raise £680,000

PR Newswire

London, February 10

11 February 2021

Clear Leisure Plc

("Clear Leisure" or "the Company")

Placing to Raise £680,000

The board of Clear Leisure (AIM: CLP) is pleased to announce that it has today raised £680,000 (before expenses) through the placing of 113,333,333 new ordinary shares of 0.25 pence each in the Company ("Placing Shares") at a price of 0.60 pence per share (the "Placing").

The net proceeds of the Placing will be used for working capital purposes and for selective further investments in Clear Leisure's growing portfolio of technology businesses.

Francesco Gardin, Executive Chairman and CEO of Clear Leisure, commented "We are pleased to announce this round of financing which will provide the Company with the funds needed to substantially increase the necessary and material computing power in our crypto currencies data centre, to make it a competitive business, once relocated.

"The second use of the funds is to complete the preparatory work for the launch of the Company's previously announced EIS Investment Fund. Finally, it also gives us sufficient resources to support our current investment portfolio, if and when required, as well as looking at new and exciting technology opportunities."

Admission & Total Voting Rights

Application will be made for the 113,333,333 Placing Shares to be admitted to trading on AIM with admission expected to occur on or around 17 February 2021. The Placing Shares will rank pari passu with the Company's existing ordinary shares.

Following admission of the Placing Shares, the Company's enlarged issued share capital will comprise 775,704,780 ordinary shares of 0.25 pence each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

-ends-

For further information please contact:

Clear Leisure Plc [phone]
Francesco Gardin, CEO and Executive Chairman

SP Angel Corporate Finance (Nominated Adviser & Broker) [phone]
Jeff Keating, John Mackay

Leander (Financial PR) [phone]
Christian Taylor-Wilkinson

About Clear Leisure Plc

Clear Leisure plc (AIM: CLP) is an AIM listed investment company which has recently realigned its strategic focus to technology related investments, with special regard to interactive media, blockchain and AI sectors. The Company also has shareholdings in a number of historical investments, primarily in Italian real estate companies, which it is currently seeking through court action, compensation from previous management for mismanagement.

For further information, please visit, www.clearleisure.co.uk