REG-Clear Leisure Plc: Receipt of Winding Up Petition <Origin Href="QuoteRef">CLPC.L</Origin>

Quantum Blockchain TechnologiesAnnouncement

18/02/2015 07:00

18 February 2015

                               Clear Leisure plc                               

                       ("Clear Leisure" or "the Company)                       

                        Receipt of winding up petition                         

The board of Clear Leisure announces that the Company yesterday received notice
from Westhouse Securities Limited ("Westhouse") that, on 17 February 2014,
Westhouse's solicitors filed a winding up petition with the Companies Court in
London.  Westhouse is claiming an amount approximately £100,000 pursuant to
unpaid debts for contractual services provided.

The Company disputes the claims made, and the amount claimed, by Westhouse and
has been in discussion with Westhouse concerning the amount due and settlement
terms. The board of Clear Leisure is therefore disappointed to learn that a
winding up petition has been filed by Westhouse but the board is working with
Westhouse and remains optimistic that settlement can be reached. As announced
on 17 February 2015, the Company has a material working capital constraint,
however, it is undertaking various initiatives to raise funds, including a debt
placement which is expected to conclude shortly in excess of the disputed
amount.

The winding up petition is due to be heard at the Companies Court at 10:30 a.m.
on 20 April 2015.

In the event that the Company is unable to successfully contest the winding up
petition or reach an agreement with Westhouse then the board of Clear Leisure
will have to take steps to protect the interests of the Company's creditors.

 
Further announcements will be made in due course.

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



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