Clear Leisure plc is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies within the leisure sector and its broader associated industries.

Clear Leisure is headquartered in London with the majority of its operations located within Italy. Clear Leisure's core assets, where the Company owns a majority controlling stake, include a leading Italian hotel management company (Ora Hotels), Italy's largest sushi restaurant chain (Sosushi), Italy's most successful water theme park (Ondaland), and a 670,000 sq m (165 acres) tract of real estate, which has been approved for the development of a major theme park, hotel, shopping complex and commercial activities (Mediapolis).

Clear Leisure's investing strategy allows it to be either a passive or active investor and the Company's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions. It is usual for one or more members of the Clear Leisure board to take a seat on the board of the investee companies.
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Low market cap 2,52M
210,409,377 Ordinary Shares
26M shares in the free float
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Major Shareholders on 6th May 2014
EUFINGEST S.A. 27.6%
ALFREDO VILLA 14.2%
LUKE JOHNSON 12.5%
LYNCHWOOD NOMINEES LIMITED 10.0%
HSBC GLOBAL CUSTODY NOMINEE (UK) LTD 9.2%
COFIRCONT COMPAGNIA FIDUCIARIA 7.5%
RELGILCO SRL 6.3%

BOOM!

Clear Leisure Plc Debt Settlement

21/09/2017 7:00am
UK Regulatory (RNS & others)


TIDMCLP

21 September 2017

Clear Leisure plc
("Clear Leisure", "the Group" or "the Company")

Agreements for EUR4.3m of Mediapolis Debt Position and EUR500,000 Secured Loan

Further to the announcement of 19 September by the Company of its settlement
negotiations with creditors of its subsidiary, Mediapolis SpA, the Company is
pleased to announce that it has now exchanged letters with a creditor agreeing
to a settlement of a EUR4.3million (GBP3.8 million) debt owing by Mediapolis SpA,
at discount of 88.3 percent of the face value. This equates, on a consolidated
basis, to a significant improvement in the Group's balance sheet of
approximately EUR3.8 million (GBP3.36 million or 1.07p per share).

Completion is expected in the next few days.

The Company is financing the acquisition of the debt with a EUR500,000 secured
Loan from a UK private company.

Francesco Gardin, Chairman and CEO of Clear Leisure, commented, "This
agreement, following ten months of complex negotiation, represents an important
result in the Company's strategy of restructuring the Group's debt and
ring-fencing of assets. During the past 18 months' the Company has negotiated
discounts of EUR7.5 million on debt, equivalent to an average discount of 80%.

"The Board is of the opinion that this debt purchase significantly strengthens
Mediapolis's case to have the winding-up petition dismissed, when the Ivrea
Court reconvenes on 29 September.

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