10th Apr 2015 08:07
LONDON (Alliance News) - Italian leisure and real estate investment company Clear Leisure PLC has resumed trading on AIM Friday, having appointed ZAI Corporate Finance Ltd as its nominated adviser and receiving the funds from a GBP250,000 short-term loan announced last month.
The loan is secured against the shares of Alnitak Sarl, a vehicle which controls the entire share capital of the Hospitality & Leisure Fund. Clear Leisure PLC in late February had said it had agreed a deal to sell the Altinak vehicle for EUR500,000.
Clear Leisure said in March that the loan isn't convertible into Clear Leisure shares and is repayable by the earlier of September 1 or on receipt of the funds from the sale of Alnitak.
Shares in Clear Leisure traded up 4.4% at 1.17 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
CLP.L