REG-Clear Leisure Plc: Mediapolis Court Update and Bitcoin Mining

Quantum Blockchain TechnologiesAnnouncement

12/06/2018 08:15

12 June 2018

Clear Leisure plc
   ("Clear Leisure" or "the Company")

Update - Mediapolis Court and Bitcoin Data Mining

Mediapolis

Clear Leisure (AIM: CLP) is pleased to report that, further to the
announcement released on 2 May 2018 detailing the hearing at the Ivrea Court
to discuss additional creditor positions proposed by the receiver to
Mediapolis Srl (“Mediapolis”), it has now received confirmation from its
Italian legal adviser that the list of creditors approved on 13 April 2018 is
final.

As previously noted by the Company, the last day for filing claims by
creditors was 16 May 2018. The Company has received confirmation that no
further petitions have been filed to challenge the Clear Leisure and Clear
Leisure 2017 Ltd, (“CL2017”) creditor positions. Consequently, the Clear
Leisure and CL2017 positions as creditors of Mediapolis have become
irrevocable and unchallengeable.

The Company owns the following confirmed creditor positions in Mediapolis:
*
First charge mortgage (held by CL2017) for €2,678.357
* Unsecured creditor position of €8,211,897
The Company will shortly commence negotiations with the receiver to establish
the most appropriate strategy to ensure a satisfactory conclusion is reached
for Clear Leisure and the other creditors of Mediapolis. The other unsecured
creditors include an amount of €165,718 to parties ranked below the First
Charge and the claim filed by the Italian Ministry of the Economy for
€2,798,620.

At this time, the board is not able to estimate the timeline for these
negotiations or future court hearings, but will update shareholders as and
when certain milestones have been reached.
 

Bitcoin Data Mining

The Company is also pleased to announce that the Company’s bitcoin mining
data centre has been successfully shipped to Serbia, where it is currently in
customs ahead of arriving on site later this week. Following the successful
testing of the unit in Italy, it is expected to be running at full capacity
for Bitcoin extraction within a few days of arrival. The Company remains
comfortable in its choice of Serbia as one of the best locations in Europe for
low cost energy. However, Clear Leisure and its joint venture partner will
seek to ensure that the best available energy rates are being utilised. As the
data centre unit is mobile, moving the operation to another location is not
expected to be a difficult task.

Please visit: www.clearleisure.co.uk to see photos of the data centre in
transit.

-ends-

Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No
596/2014 until the release of this announcement.

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 3407 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 launched a joint venture initiative in the
cryptocurrency mining sector. For further information, please
visit, www.clearleisure.co.uk



Copyright (c) 2018 PR Newswire Association,LLC. All Rights Reserved