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Clear Leisure adjourns meeting for holders to vote on extending bonds
By Sarah Lizee
Olympia, Wash., June 5 – Clear Leisure plc adjourned the meeting to amend its €9.9 million of redeemable bonds due Dec. 15, 2018 until 5 a.m. ET on June 19.
The issuer noted that holders who were present at the meeting on Tuesday in London indicated that they wished to vote in favor of the proposed changes; however, the meeting lacked the needed quorum, according to a notice.
The quorum needed at the adjourned meeting has been reduced to 25% from 75%.
As announced on May 11, the issuer is seeking to amend the final maturity date of the bonds to Dec. 15, 2022.
Additionally, Clear Leisure is asking holders to allow it to convert the bonds into new ordinary shares.
Proxies are due no later than 5 a.m. ET on June 18.
Clear Leisure is a London-based leisure- and property-focused investment company. Its holdings are mainly in Italy.
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