Issue of Bond

RNS Number : 7727A

Clear Leisure PLC

25 March 2013

 



25 March 2013

Clear Leisure Plc

("Clear Leisure" or "the Company")

ISSUE OF ZERO COUPON BOND

The Board of Clear Leisure, the AIM traded (AIM: CLP) specialist investment company, is pleased to announce that it has completed the placing of its December 2015, Zero Coupon Convertible Bond at a conversion price of 15 pence and issued at 78% of face value.

In line with the Company's current needs, only EUR 3 million has been sold to date to different European institutions, with the remaining EUR 6.9 million held in the Company's treasury account, to be sold in the secondary market, if and when the Company requires further cash for investment and growth. The net proceeds will be used mainly to buy back, at discount, existing debt positions.

Therefore, as announced on 6 February 2013, the Company has bought back £2,704,594 of debt for £1,596,070, realising a profit of £1,108,524, which will be reported in the Company's 2012 financial statements. This restructuring has allowed the Company to reduce the overall debt on its former bond with CACEIS Bank Luxembourg from £7.2 million at 31 December 2011 to £1.4 million.

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For further information please contact:

Clear Leisure Plc                                                                                                [phone]

Alfredo Villa, CEO

Westhouse Securities                                                                              [phone]

Antonio Bossi

Jonathan Haines

Leander PR                                                                                               [phone]

Christian Taylor-Wilkinson

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

 

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