REG-Clear Leisure Plc: Mediapolis Court Update <Origin Href="QuoteRef">CLPC.L</Origin>

Quantum Blockchain TechnologiesAnnouncement

22/02/2018 07:00

22 February 2018

Clear Leisure Plc
(“Clear Leisure” or “the Company”)

Mediapolis Appeal Ruling
And Recognition of First Charge over Asset

The Company has been informed by its Italian legal adviser that the joint
appeal against the Mediapolis Srl winding up petition, as announced on 21
November 2017, has been rejected by the Turin Appeal Court.

The legal advisers to the Company are currently assessing the Court ruling to
consider the opportunity of appealing the judgement in the Italian High Court.

Clear Leisure has also received from the appointed receiver of Mediapolis a
‘creditor ranking’ proposal with confirmation of the Company’s wholely
owned subsidiary, Clear Leisure 2017 Ltd, having first charge right on the
land plot. The final approval of the creditor plan is subject to the ruling of
the Bankruptcy Court, with a first hearing due to take place on 23 February
2018. 

Francesco Gardin, CEO and Executive Chairman of Clear Leisure, commented:
“While we are not happy about the result of the appeal, confirmation of the
receiver’s proposal to the Bankruptcy Court of the key recognition of our
first charge over the Mediapolis land, is a positive step forward. We will
update the market once the Court makes a final judgement on the receiver
proposal.”

Market Abuse Regulation (MAR) Disclosure

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.

-ends-

For further information please contact:

Clear Leisure Plc                  +39 335 296573
Francesco Gardin, CEO and Executive Chairman

SP Angel Corporate Finance (Nominated Adviser & Joint Broker)        
+44 (0)20 3407 0470
Jeff Keating / John Mackay/Charlie Bouverat                      
                                               

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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