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

Quantum Blockchain TechnologiesAnnouncement

19/09/2017 07:01

19 September 2017

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

Settlement of Mediapolis Debt Position

Further to yesterday’s release of the Company’s interim results for the
six months to 30 June 2017 and the movement in the Company’s share price,
Clear Leisure plc (AIM: CLP), wishes to clarify the position in relation to
on-going negotiations with creditors of its subsidiary, Mediapolis Spa. Whilst
there has been no agreement subsequent to release of the interim results, the
Company advises that its negotiations are in an advanced stage and if
successful, the discount on buying back various debts of Mediapolis SpA would
amount to circa €4.4 million, at a proposed discount of about 87 percent.

If these negotiations are successful and the proposed discount is agreed this
would equate, on a consolidated basis, to a significant improvement in the
Group’s balance sheet of approximately €3.8 million or circa 1.24 pence
per share.

Francesco Gardin, Chairman and CEO of Clear Leisure, commented, “These
agreements would represent a key step forward in the Company’s strategy of
restructuring the Group’s debt and ring-fencing of assets. They should also
strengthen Clear Leisure’s argument 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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