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

Quantum Blockchain TechnologiesAnnouncement

27/02/2015 07:01

27 February 2015

                               Clear Leisure plc                               

                       ("Clear Leisure" or "the Company)                       

                                    Update                                     

The Board of Clear Leisure plc provides an update further to its recent
announcements.

In respect of the winding up petition announced on 18 February 2015, the
Company advises that discussions with Westhouse Securities Limited
("Westhouse") are proceeding positively and the Board expects to be in a
position to update the market further shortly.

Whilst the Company has announced an audited net asset value of EUR 16.9
million, as at 30 June 2014, and the forthcoming realisation from the sale
Alnitak Sarl ("Alnitak"), the vehicle which controls the entire share capital
of the Hospitality & Leisure Fund ("H&L Fund"), the Company's cash position
remains severely constrained. Accordingly, the Company is seeking to raise
additional working capital and is in advanced stage discussions with a number
of different parties to a provide short term, secured debt facility.
Additionally, the Company has held discussions with certain parties to
subscribe for new ordinary shares conditional on the passing of the resolutions
at the Company's annual general meeting on 11 March 2015 and the withdrawal of
Westhouse's petition.

The directors remain positive that additional capital can be raised in the
immediate short term to allow the company to continue to trade.

For further information please contact:

Clear Leisure plc +39 02 4795 1642
Alfredo Villa, CEO

Cairn Financial Advisers LLP (Nominated Adviser) +44 (0) 20 7148 7900
Jo Turner / Liam Murray

Peterhouse Corporate Finance (Broker) +44 (0) 20 7469 0935
Lucy Williams / Heena Karani

About Clear Leisure Plc

Clear Leisure Plc (AIM: CLP) is an AIM listed investment Company pursuing a
dynamic strategy to create a comprehensive portfolio of companies primarily
encompassing the leisure and real estate sectors mainly in Italy but also other
European countries. 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



END


Copyright © 2015 PR Newswire Association, LLC. All Rights Reserved