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Clear Leisure considering raising further funds

By BFN News | 07:54 AM | Tuesday 28 October, 2014


Clear Leisure, the AIM-traded specialist investment company, is considering raising further funds following the uptake of the bond in August. The company said it successfully placed �?¬450,000 of its 0% December 2015 bond, at a price of 91.5% of the value of the bond, to a Swiss-based investor, raising �?¬411,750. These funds have been used to subscribe to an increase in capital in Mediapolis SpA and will be used for general working capital purposes. It said that as a result of the uptake of the bond, it is considering raising further funds in a similar manner, which would be used for the further increase in capital in Mediapolis and for working capital purposes. The company said that as a result of the successful issuance of bonds, it has participated in the first part of a two part fundraising by Mediapolis in order to provide Mediapolis with working capital for the professional fees to separate the license assets from the land assets. The cCompany's initial participation was for �?¬200,000 with a further subscription expected in the region �?¬180,000. Following the second subscription, Clear Leisure's interest in Mediapolis will increase from approximately 69.5% to approximately 88%. The company also said that it continues to negotiate the terms of the possible acquisition of 100% of the real estate assets of the Ondaland waterpark. Story provided by StockMarketWire.com

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