Clear Leisure Plc - Mediapolis hearing update

29 September 2017

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

Mediapolis hearing update

As previously advised by the Company, the Ivrea Court reconvened today for the hearing to consider the winding up petition of Mediapolis srl. No announcement has been issued by the Court regarding today’s proceedings and no firm date has been given as to when the Court will announce its findings.

However, the Company has provided to the Court further evidence of settlements with creditors, including the €500,000 payment to settle a €4.29 million loan with the transfer of the right to Clear Leisure. The Company has irrevocably committed to convert the full amount of this €4.29 million in Mediapolis srl into new capital, at a General Meeting of Mediapolis’ shareholders to be held in due course.

Francesco Gardin, CEO and Executive Chairman of Clear Leisure, commented, "Although we are, obviously, hoping for a favourable ruling as a result of both the new evidence Mediapolis’ lawyers submitted to the Court today and that tendered over the past months, the outcome remains in the hands of the judges."

-ends-

For further information please contact:

Clear Leisure plc
[phone]

Francesco Gardin, CEO and Executive Chairman

ZAI Corporate Finance (Nominated Adviser)
[phone]

Tim Cofman / Luis Brime

Peterhouse Corporate Finance (Broker)
[phone]

Lucy Williams / Heena Karani

Leander (Financial PR)
[phone]

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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