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

Quantum Blockchain TechnologiesAnnouncement

24/02/2015 07:01

24 February 2015

                               Clear Leisure plc                               

                       ("Clear Leisure" or "the Company)                       

                               Mediapolis update                               

The Board of Clear Leisure plc is pleased to announce that, on 23 February
2015, a General Meeting ("GM") was held for Mediapolis S.p.A ("Mediapolis").

At the GM, the recent fundraising of EUR 500'000 undertaken by Mediapolis was
declared fully subscribed and complete. Based on this latest capital increase,
in which the Company invested EUR185,000, as announced on 12 January 2015, the
percentage of shareholder ownership over 3% is as follows:

Clear Leisure plc          74.67%
Mediapolis Investment Sa   13.07%

Clear Leisure plc holds 71.72% direct investment in Mediapolis Investment Sa
(Luxembourg) and, therefore, the Company is now beneficially interested in
84.04% of the equity and 87.74% of the voting rights of Mediapolis.

During the EGM, it was resolved that:

  * the net equity value of Mediapolis at 31 December 2014 was Eur 24'432'393
    based on the last certified appraisal and valuation of the company;
   
  * approval be granted to increase the authorities of Mediapolis to allow new
    equity of EUR 13 million to be issued which will be offered to creditors of
    Mediapolis for subscription or conversion of debt by 31 December 2015 as a
    means of reducing or eliminating Mediapolis' overall indebtedness; and
   
  * Audirevi-Nexia International (Milan based accountants) be appointed to
    undertake the audit of Mediapolis's Financial Report and Accounts for 2014
    as approved in the last Annual General Meeting.
   
At the GM, shareholders were presented with the first update report from Avalon
Agency, the consultants engaged by the Company to seek potential buyers for
some or all of Mediapolis's assets. This report stated that there are five
parties currently undertaking negotiations and due diligence on the assets of
the business.

For further information please contact:

Clear Leisure plc +39 02 4795 1642
Alfredo Villa, CEO

Cairn Financial Advisers LLP (Nominated Adviser) +44 (0) 20 7148 7900
Jo Turner / Liam Murray

Peterhouse Corporate Finance (Broker) +44 (0) 20 7469 0935
Lucy Williams / Heena Karani

About Clear Leisure Plc

Clear Leisure Plc (AIM: CLP) is an AIM listed investment Company pursuing a
dynamic strategy to create a comprehensive portfolio of companies primarily
encompassing the leisure and real estate sectors mainly in Italy but also other
European countries. The Company may be either a passive or active investor and
Clear Leisure's investment rationale ranges from acquiring minority positions
with strategic influence through to larger controlling positions. For further
information, please visit, www.clearleisure.com



END


Copyright © 2015 PR Newswire Association, LLC. All Rights Reserved