REG-Clear Leisure Plc: Placing, Conversion Agreement with Eufingest at 0.75p <Origin Href="QuoteRef">CLPC.L</Origin>

Quantum Blockchain TechnologiesAnnouncement

04/08/2016 15:50

4 August 2016    

Clear Leisure plc

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

Placing, Conversion Agreement with Eufingest at 0.75p,

Placing

The Board of Clear Leisure plc announces that it has today raised a total of
£150,000 (gross of expenses) through a placing of 30,000,000 ordinary shares
of 0.25 pence ("Placing Shares") at a price of 0.50 pence per share. The funds
raised will be used for general working capital purposes and to help fund the
current litigation to recover past investments.

Following the placing, Eufingest,S.A (“Eufingest”), a Swiss investor and
Clear Leisure’s largest shareholder and the holder of convertible loans to
the value of approximately £775,000, has confirmed that it is converting
£164,872.10, at 0.75p per share, corresponding to 21,982,947 new ordinary
shares of 0.25p each. The conversion will increase Eufinget’s holding in the
Company from 26.85% to 29.90%.

The conversion will result in decreasing by £164,872.1, part of the £200,000
Convertible Loan Notes, due on 15 September 2016. As a result, Clear
Leisure’s exposure to Eufingest convertible loans will reduce from
approximately £775,000 to circa £610,000.

The placing and converted shares will, when issued, be credited as fully paid
and will rank pari passu in all respects with the existing ordinary shares of
0.25 pence each in the capital of the Company, including the right to receive
all dividends and other distributions declared, made or paid in respect of
such shares after the date of issue of the Placing Shares. The Company is
applying for admission of the placing and converted shares to trading on AIM,
a market operated by the London Stock Exchange plc (the "Admission"). It is
expected that Admission will take place and that trading in the placing and
converted shares will commence on or around 10 August 2016. The Placing and
conversion is conditional upon Admission becoming effective.

Following Admission, the Company's enlarged issued share capital will comprise
263,820,895 Ordinary Shares. This figure may be used by shareholders in the
Company 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.

Francesco Gardin, CEO and Chairman of Clear Leisure, commented, "We continue
to investigate all avenues to improve the Company’s balance sheet and
ultimately increase value to shareholders.

“The conversion by Eufingest of it loan notes clearly demonstrates its
long-term support for our strategy. I look forward to updating the market with
further developments before the end of the quarter.”

-ends-

For further information please contact:

Clear Leisure
plc                                                                                               +39
335 296573

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 



Copyright (c) 2016 PR Newswire Association,LLC. All Rights Reserved