REG-Clear Leisure Plc: Debt Settlement <Origin Href="QuoteRef">CLPC.L</Origin>

Quantum Blockchain TechnologiesAnnouncement

21/09/2017 07:01

21 September 2017

Clear Leisure plc
("Clear Leisure", “the Group” or "the Company")

Agreements for €4.3m of Mediapolis Debt Position and €500,000 Secured Loan

Further to the announcement of 19 September by the Company of its settlement
negotiations with creditors of its subsidiary, Mediapolis SpA, the Company is
pleased to announce that it has now exchanged letters with a creditor agreeing
to a settlement of a €4.3million (£3.8 million) debt owing by Mediapolis
SpA, at discount of 88.3 percent of the face value.  This equates, on a
consolidated basis, to a significant improvement in the Group’s balance
sheet of approximately €3.8 million (£3.36 million or 1.07p per share).

Completion is expected in the next few days.

The Company is financing the acquisition of the debt with a €500,000 secured
Loan from a UK private company.

Francesco Gardin, Chairman and CEO of Clear Leisure, commented, “This
agreement, following ten months of complex negotiation, represents an
important result in the Company’s strategy of restructuring the Group’s
debt and ring-fencing of assets. During the past 18 months’ the Company has
negotiated discounts of €7.5 million on debt, equivalent to an average
discount of 80%.

“The Board is of the opinion that this debt purchase significantly
strengthens Mediapolis’s case to have the winding-up petition dismissed,
when the Ivrea Court reconvenes on 29 September.”

-ends-

For further information please contact:

Clear Leisure plc
+39 335 296573

Francesco Gardin, CEO and Executive Chairman

ZAI Corporate Finance (Nominated Adviser)
+44 (0)20 7060 2220

Tim Cofman/ John Tracy/ Luis Brime
Berdugo                                                                           

Peterhouse Corporate Finance (Broker)
+44 (0) 20 7469 0935

Lucy Williams / Heena Karani

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. For further information, please visit, www.clearleisure.co.uk



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