REG-Clear Leisure Plc: Debt buy-back <Origin Href="QuoteRef">CLPC.L</Origin>

Quantum Blockchain TechnologiesAnnouncement

23/09/2016 11:00

23 September 2016    

Clear Leisure plc

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

Debt buy-back

Clear Leisure (AIM: CLR), the leisure and property focused investment company,
is pleased to announce it has entered into a binding agreement with an Italian
bank to buy back €1.3 million of debt of one is its subsidiaries at a 76%
discount. A consideration schedule has been agreed with the bank.

This represents a pro-rata improvement of approximately €800,000 (GBP
690,000) in the Company’s consolidated balance sheet, or circa 0.24p per
share.

Further negotiations with other Italian banks to buy back subsidiaries’ debt
at a discount are now being progressed and the board will update the market
when it is appropriate to do so.

Francesco Gardin, Chairman and CEO of Clear Leisure, commented, “We have
taken this opportunity to materially strengthen our balance sheet by reducing
the amount of debt held by some of our subsidiary investee companies at a
significant discount. This will serve to significantly reduce our annual
outgoing liabilities, enhancing Clear Leisure’ position of strength when
negotiating further asset sales and debt recoveries. We see this as yet
another step in preparing the Company for its future, as outlined in our
12(th) September statement to the market.”

-ends-

For further information please contact:

Clear Leisure
plc                                                                                               +39
335 296573 (tel:%2B390247951642)

Francesco Gardin, CEO and Executive Chairman

ZAI Corporate Finance (Nominated Adviser)

Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark
                            +44 (0)20 7060 2220

Peterhouse Corporate Finance (Joint
Broker)                                        
+44 (0) 20 7469 0935

Lucy Williams / Heena Karani

Cadogan 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 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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