REG-Clear Leisure Plc: Bond Holder Meeting <Origin Href="QuoteRef">CLPC.L</Origin>

Quantum Blockchain TechnologiesAnnouncement

28/11/2016 07:05

28 November 2016

Clear Leisure plc
("Clear Leisure", "the Group" or "the Company")

Bond Holder Meeting
on 16 December 2016

Clear Leisure (AIM: CLR), the leisure and property focused investment company,
is pleased to announce that it has written to holders of its EUR 9.9m
redeemable Bond (“the Bond"), due on 15 December 2017, calling a meeting at
10 am on 16 December 2016, at the Company's registered office 22 Great James
Street, London WC1N 3ES to seek bondholder approval for the following:

    a.     To amend the final maturity of the bonds from 15 December
2017 to 15 December 2018, and 

    b.     To alter the repayment/redemption amount to be paid at final
maturity from 114.49% to 103.03% of the nominal amount of the Bonds (giving an
effective 1.0% annual interest rate, compared to the current 7.0%).

Bonds with a principal value of EUR 6.9m are entitled to vote of which EUR
3.0m are held by Eufingest, which has confirmed they will vote in favour of
the resolutions.

Eufingest and its associates own 27.52% of the Company's equity and therefore
the amendment of the terms falls to be treated as a related party transaction
under the rules of AIM. The directors of Clear Leisure consider, having
consulted with its Nominated Adviser, that the revised terms are fair and
reasonable insofar as its shareholders are concerned.

The meeting requires a quorum of 75% of the voting bondholders. If the meeting
is inquorate, a second meeting will be held on 30 December 2016 at which time,
any number of bondholders present, or via proxy, will represent a valid
quorum.

Bondholders who wish to vote and whose Bonds are held in the name of a broker,
dealer, commercial bank, trust company or other nominee institution (including
as CDIs) must contact such nominee promptly and instruct or make arrangements
with such nominee to vote in accordance with the customary procedures of the
Clearing Systems on behalf of the Bondholders. Proxies are due no later than
10am on 14 December 2015.

In the event the resolutions are passed, the Company will achieve a total
reduction of EUR 792,000 (£671,000) on the interest charged on this bond.

Francesco Gardin, CEO and Executive Chairman of Clear Leisure, commented,
“We

continue to focus on reduction of Company costs, both at the holding and
subsidiary level, thus strengthening the Group’s consolidated balance sheet.
Eufingest continues to be a supportive strategic shareholder and lender to the
Group.”

-ends-

For further information please contact:

 Clear Leisure plc Francesco Gardin, CEO and Executive Chairman                              +39 335 296573        
 ZAI Corporate Finance (Nominated Adviser) Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark  +44 (0)20 7060 2220   
 Peterhouse Corporate Finance (Joint Broker) Lucy Williams / Heena Karani                    +44 (0) 20 7469 0935  
 Cadogan Leander (Financial PR) Christian Taylor-Wilkinson                                   +44 (0) 7795 168 157  

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 Company may be either a passive or active
investor and Clear Leisure's investment rationale ranges from acquiring
minority positions with strategic influence through to larger controlling
positions. For further information, please visit, www.clearleisure.com 



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