REG-Clear Leisure Plc: Refinancing of Debt, Rescheduling of Loans Maturity Date

Quantum Blockchain TechnologiesAnnouncement

24/06/2019 09:50

                                                                                                                    
24 June 2019

Clear Leisure Plc
(“Clear Leisure” or “the Company”)

Refinancing of Debt and Reschedule of Loans’ Maturity Date

In September 2017, prior to the final Ivrea Court winding up petition hearing,
the Company entered into a €500,000 loan agreement with a UK private company
(the “Lender”) to enable Clear Leisure to purchase €4.3 million of debt
at an 88% discount to face value from a creditor of Mediapolis Srl.

On 9 March 2018, it was announced that the Company had agreed with the Lender
to settle €250,000 of the loan through the issue of 22,321,429 new ordinary
shares of 0.25p in Clear Leisure each, at a price of 1p per share. In the
first five months of 2019 the Company has repaid additional funds to the
Lender.

The Board is pleased to announce that Eufingest SA, (“Eufingest”) has
provided Clear Leisure with a further unsecured loan facility to settle the
full outstanding debt owed by the Company to the Lender, including accrued
interest, for €200,000.

Under the terms of the loan agreement, Eufingest has provided €200,000 at an
interest rate of 2.5 per cent per annum. The loan is repayable on or before 31
December 2019.

Eufingest has also agreed to extend the repayment of the following loans from
30 June 2019 to 31 December 2019 (or such earlier date as may be agreed with
the Company):
*
€50,000 and €250,000 as first announced on 07 December 2017 and 02 January
2018 respectively; and
*
€200,000 as first announced on 03 October 2018

(together “the Eufingest Loans”)

All other terms and conditions of the Eufingest Loans remain unchanged.

Eufingest is a substantial shareholder of the Company as defined by the AIM
Rules for Companies. The new loan and the extension of the Eufingest Loans
repayment dates are therefore related party transactions 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 transactions are fair
and reasonable insofar as its shareholders are concerned.

-ends-

For further information please contact:

Clear Leisure Plc                                       
                               
Francesco Gardin, CEO and Executive Chairman
+39 335 296573

SP Angel Corporate Finance (Nominated Adviser & Broker)      
Jeff Keating / John Mackay
+44 (0)20 3470 0470                                       
                                                   
  

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 focus of the management is 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. The Company has recently realigned its strategic
focus to technology related investments, with special regard to interactive
media, blockchain and AI sectors. For further information, please visit,
www.clearleisure.co.uk



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