1 February 2019
Clear Leisure
Plc
(“Clear Leisure” or “the
Company”)
Mediapolis
Update
The Board of Clear Leisure (AIM: CLP) advises that it has been
informed by its legal advisors that the terms for filing the
Mediapolis appeal to the Court of Cassation (Supreme Court) is now
6 months, rather than the 60 days as announced on 3 December 2018. This is as a result of the
notification procedure adopted by the Ivrea Court, which allows for
a longer term to appeal for the Company.
Notwithstanding the extended deadline, the Company has already
instructed its legal advisors to draft and file the appeal.
In addition, the Board has been notified that at the creditors
hearing held at the Ivrea Court on 25
January 2019, the creditors list of Mediapolis has been
updated to include late admission requests.
Further to the announcement of 12 June
2018, the Court has admitted further unsecured creditors to
the amount of €104,719 and other creditors ranked above unsecured
creditors, but below the first charge, for €100,067.
Clear Leisure 2017 Ltd (“CL2017”), the Company’s wholly owned
subsidiary, is the beneficiary of a first charge on the Mediapolis
land up to an amount of approximately €2.68 million, whilst the
Company and CL2017 also hold an unsecured creditor position of
approximately €8.21 million on Mediapolis.
-ends-
For further information please
contact:
Clear Leisure
Plc
+39 335 296573
Francesco Gardin, CEO and
Executive Chairman
SP Angel Corporate Finance (Nominated Adviser &
Broker) +44 (0)20
3470 0470
Jeff Keating / John
Mackay
Leander (Financial
PR)
+44 (0) 7795 168 157
Christian Taylor-Wilkinson
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. The Company
has recently realigned its strategic focus to technology related
investments, with special regard to interactive media, blockchain
and AI sectors. For further information, please visit,
www.clearleisure.co.uk