Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of investment company Clear Leisure (LON: CLP) are surging on Monday after the company said it raised £1,000,000 through the placing of 100,000,000 new ordinary shares of 0.25p each in the Company at a price of 1p per share to an individual investor, John Story.
Mr Story will also be granted 100,000,000 warrants over Clear Leisure ordinary shares, with each warrant entitling Story to subscribe for one new Clear Leisure share at a price of 2p per Ordinary Share and will be exercisable for two years from the date of admission to AIM of the Placing Shares.
Following the placing, Mr Story will hold an approximately 11.14% stake in Clear Leisure.
The company said the net proceeds will be used to accelerate and widen the development of its cryptocurrency plans, including:
“I am very pleased to be able to welcome John Story as a substantial shareholder in Clear Leisure and have direct access to the exciting technologies he has recently invested into, which could be extremely beneficial to our new cryptocurrencies initiatives,” commented Francesco Gardin, Executive Chairman and CEO of Clear Leisure.
Clear Leisure’s stock price is currently trading 99% higher at 2.49p following Friday’s close at 1.25p.
Should you invest in Clear Leisure shares? Clear Leisure shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Clear Leisure shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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