Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Clear Leisure Plc (CLP)

  Print      Mail a friend       Annual reports

Thursday 27 October, 2016

Clear Leisure Plc

Related Party

27 October 2016

Clear Leisure plc

(“Clear Leisure” or “the Company”)

Update Regarding Related Party

Eufingest S.A. (“Eufingest”) a Swiss based investment management fund has, for many years, been a strong and supportive shareholder of Clear Leisure since 2012 and an increasingly significant lender since then lender. Eufingest and its related clients and associates (“the Eufingest Parties), as defined by the AIM Rules for Companies (“the AIM Rules”), are in the opinion of the current Directors of Clear Leisure, having taken advice from the Company’s Nominated Adviser, a related party of the Company and have been since at least November 2012 when they acquired a 13.86% aggregated shareholding in the Company. Historically however, before the appointment of the current board on 31 July 2015, it would appear that this view was not held by the Directors of the Company and therefore advances from the Eufingest Parties were not at the time treated as related party transactions.

Eufingest Parties held, from March 2013, EUR 3,000,000 of the Company’s 7% Bonds due 15 December 2017. Originally these bonds were zero coupon, with an effective interest rate of 9.5% (due to the 22% discount on face value) and with conversion rights at 15 pence per share. A bondholder meeting held on 31 December 2015 approved a revision to the terms of these Bonds to be redeemed at 114.49% of nominal value on 16 December 2017 (giving an effective 7% annual interest rate) but no longer convertible.

In addition, as at 30 September 2016, debt outstanding from the Eufingest Parties amounted to £595,000 (inclusive of £69,000 accrued interest). The debts (plus accumulated interest) arose from the following transactions:

  • 4 October 2013: EUR 200,000, bearing interest of 7.5%; Amended on 31 December 2015 setting the interest rate at 2.5% and the new maturity date to be agreed before 31 March 2017
  • 15 December 2014: EUR 200,000, bearing interest of 9%; Amended on 31 December 2015 setting the interest rate at 2.5% and the new maturity date to be agreed before 31 March 2017
  • 28 October 2015: £200,000, bearing interest of 3%. Repaid on 31 December 2015
  • 31 December 2015: £200,000, bearing an interest rate of 2.5%, drawn down completely on 15 March 2016. Maturity date to be agreed before 31 March 2017
  • 5 May 2016: £100,000, bearing an interest rate of 2.5% with a maturity date to be agreed before 31 March 2017
  • 20 May 2016: EUR 50,000, bearing an interest of 2.5% with a maturity date to be agreed before 31 March 2017
  • 4 August 2016 Eufingest converted part of its credit into 21,982,947 Clear Leisure new ordinary shares at a conversion price of 0.75p for a total compensation of £164,872.10.

Finally, the Company has today entered into a new loan agreement with Eufingest, which will be announced tomorrow.

The support of Eufingest has been and remains, in the opinion of the Directors, both very welcome and key to enabling the Company to achieve its current strategy of realising its investments and pursuing claims against various parties in respect of losses suffered by Clear Leisure and its investments and subsidiaries. Currently Clear Leisure is discussing with Eufingest, how outstanding advances may be extended or converted into equity in the Company and announcement will be made in due course.

As regards the transactions detailed above, the Directors of the Company, having consulted with the Company’s Nominated Adviser, consider the terms to these transactions to be fair and reasonable insofar as its shareholders are concerned.

Francesco Gardin, CEO and Chairman of Clear Leisure, commented: “We strongly welcome the support of Eufingest and continue to explore with it, ways in which it can help the Company achieve its strategic objective, to the benefit of all shareholders.”


For further information please contact:

Clear Leisure plc
Francesco Gardin, CEO and Executive Chairman
+39 335 296573
ZAI Corporate Finance (Nominated Adviser)
Tim Cofman/Jamie Spotswood/Peter Trevelyan-Clark
+44 (0)20 7060 2220
Peterhouse Corporate Finance (Broker)
Lucy Williams / Heena Karani
+44 (0) 20 7469 0935
Cadogan 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 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. For further information, please visit, 

a d v e r t i s e m e n t