REG-Clear Leisure Plc: Sipiem Court Update

Quantum Blockchain TechnologiesAnnouncement

27/10/2020 07:00

27 October 2020

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

Sipiem Update

The board of Clear Leisure (AIM: CLP) is pleased to give shareholders an
update on its €10.8 million Sipiem SpA in Liquidazione (“Sipiem”) legal
claim against the previous management and audit committee, which has been
previously notified.

The independent expert appointed by the Court has formally accepted the
appointment under oath at a Court hearing held on 21 October 2020. The expert
will start his assessment work on 5 November 2020.

Sipiem, the claimant, has appointed its own expert and the defendants have
appointed two separate experts.

The judge has set the hearing for consideration of the expert reports for 10
March 2021.

The Company remains confident on the strong foundations of the claim.

Francesco Gardin, Executive Chairman and CEO of Clear Leisure, commented,
“We are very pleased with the tight timeline, set by the Venice judge, for
the Sipiem claim. The March 2021 hearing is expected to be extremely
informative as the amount of claimed damages will be formally submitted by the
independent expert in his report to the judge”.

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014.

-ends-

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
3470 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 which has
recently realigned its strategic focus to technology related investments, with
special regard to interactive media, blockchain and AI sectors. The Company
also has shareholdings in a number of historical investments, primarily in
Italian real estate companies, which it is currently seeking through court
action, compensation from previous management for mismanagement.

For further information, please visit, www.clearleisure.co.uk



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