Business
Restaurants Division Expansion
Restaurants Division Expansion.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n \n \n Restaurants Division Expansion\n \n \n\n \n Clear Leisure plc\n \n \n\n \n \n \n 6 January 2014\n \n \n Clear Leisure Plc(“Clear Leisure†or “the Companyâ€)\n \n Restaurants Division Expansion\n \n \n The Company is pleased to announce that it has increased its interest in \n the Italian sushi restaurant chain, Sosushi Company srl (“Sosushiâ€), \n from 51 per cent. to 100 per cent. Consideration will take the form of a \n credit compensation agreement between the vendor and the Company.\n \n \n Following this acquisition, Mr. Michele Collini, a 32 year old, business \n management MA graduate from Bocconi University, Milan and a former audit \n partner at PKF Italia SpA, will be appointed as the new Chief Executive \n Officer of Sosushi.\n \n \n Clear Leisure is also pleased to announce that, for no additional \n financial cost, it has acquired 51 per cent. of Lasagnette UK, a \n restaurant format incorporating the merchandising of a much loved \n cartoon character. This acquisition allows the Company the opportunity \n to launch in the UK and Ireland the Lasagnette family restaurant format \n and includes the merchandising rights for the cartoon character. For \n more information on Lasagnette, please go to www.lasagnette.com.\n \n \n As part of this planned reorganisation and development of the Company's \n restaurant operations, Clear Leisure expects to shortly sign a new \n Letter of Intent to acquire the worldwide rights to the name of a \n historic restaurant in Italy which has been awarded a Michelin star.\n \n \n Following the completion of the above expansionary moves, creating a \n significant, international restaurant group, the Company is exploring \n the possibility, in conjunction with its UK advisers, to spin-off its \n enlarged restaurant division into a separate, potentially listed entity. \n Such a move, which should be seen as part of the Company's clear focus \n to provide transparency on the underlying value of its assets, will \n further allow the separated restaurant group to raise additional \n expansionary and working capital, without directly diluting Clear \n Leisure shareholders.\n \n \n Finally, again as part of the Company's commitment to driving \n shareholder value in the near term, the Board of Clear Leisure is \n currently s...