Conversion of Eufingest Loan Note

25 July 2017

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

Conversion of Eufingest Loan Note

Clear Leisure (AIM: CLP), the leisure and property focused investment company, is pleased to announce that Eufingest SA, the Company’s largest shareholder, has confirmed that it is converting EUR 74,830, at a conversion price of GBP 0.0089 per share, of its EUR 2,474,830 Convertible Loan Note (as outlined in the announcement made by the Company on 10 May 2017). The conversion corresponds to 7,546,155 CLP 0.25p New Ordinary Shares. The conversion will result in the increase of Eufingest’s holding in the Company from 26.01 per cent to 27.81 per cent. following the reduction resulting from the share placing announced on 17 July 2017.

Following the conversion, the principal of the Convertible Loan Note due on 28 April 2020 is EUR 2.4 million.

The new shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 0.25 pence each in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid in respect of such shares after the date of issue.

Trading in the converted shares will commence on or around 31 July 2017.

The Company's enlarged issued share capital will comprise 310,291,286 Ordinary Shares. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Francesco Gardin, Chairman and CEO of Clear Leisure, commented, “The conversion agreement with our largest shareholder Eufingest demonstrates once again its support for the Company’s strategy.”

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For further information please contact:

Clear Leisure plc                                                                                               

Francesco Gardin, CEO and Executive Chairman
  [phone]

ZAI Corporate Finance (Nominated Adviser)                 

Tim Cofman/Peter Trevelyan-Clark
 [phone]

Peterhouse Corporate Finance (Broker)             

Lucy Williams / Heena Karani
  [phone]

Leander (Financial PR)                                          

Christian Taylor-Wilkinson
      [phone]

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, www.clearleisure.com