Clear Leisure Share Discussion Threads

[dave4545] 27/2/2018 14:03

Offering around 0.91p on that 0.9-0.95p spread so maybe next shake coming

[dave4545] 27/2/2018 14:00

Profit takers each level but traders have to buy back higher to get in. I'm going for 1.2-1.5p either today or in the morning.

Market cap is only up £1 mil, next to those numbers it's nothing

[theclangers] 27/2/2018 13:55

She cannae take any more Captain. She’s gonna blow!

[dave4545] 27/2/2018 13:49

Cannot buy at 0.86p now traders all out, should hit new intraday high soon of 0.9p+

[cudmore] 27/2/2018 13:44

Just need this to go up another 30% and I’ll break even 😂

[qs99] 27/2/2018 13:37

Looks really interesting for market cap/dilutive products in place, but against the secured first dibs €8m and anything over and above that they can get. Recovering economies in EU may also help underlying value of that particular asset IMO....DYOR, interesting value play depending on how patient you are!

[wolfcub] 27/2/2018 13:31

Glad I held onto these and added a few when it dipped. :)

[temmujin] 27/2/2018 13:00

24million shares traded in just over half hour..phenomenol!

[temmujin] 27/2/2018 12:59

27 February 2018

Clear Leisure Plc
(Clear Leisure or the Company)

Mediapolis Recognition of First Charge over Asset and Credit Position

The Company is pleased to announce that the proposal of the receiver to Mediapolis (as announced by the Company on 22 February 2017) made to the Ivrea Court, that Clear Leisure 2017 Limited (CL2017), the Companys wholly owned subsidiary, holds a first charge over the land plot owned by Mediapolis Srl has now been approved by the Court in the amount of �2,678,357.

This figure excludes part of the accrued interest claimed by the Company on debt acquired from certain Italian banks in 2017, but which has not been accepted as part of the first charge. This is due to a time limit on the number of years which interest can be accrued on the principal sum in bankruptcy claims.

The Court approval means that any proceeds from the disposal of the Mediapolis land, up to �2,678,357 (subject to deduction of costs of sale), will be payable to CL2017.

Not included in the first charge, but formally recognised by the Court as due to Clear Leisure, is unsecured debt amounting to �8,211,897 which comprises �2,715,475 of accrued interest due to CL2017 and �5,496,421 acquired by the Company from Olivetti Multiservices SpA (Olivetti). Due to the legal complexity of a valid transfer of a first charge whilst a company has been declared bankrupt, the transfer on the Ivrea Land Register of the first charge acquired from Olivetti remains pending.

While a �3m debt claimed by the Ministry of the Economy position is still being assessed by the receiver, �165,718.53 of amounts due by Mediapolis to certain creditors have so far been ranked above unsecured creditors, but below the first charge. Thus, the current value of unsecured creditors approved by the Court amounts to �8,749,860, of which �8,211,897 or 93.85% (which does not take into account the �3m debt claimed by the Ministry of the Economy which is still being assessed), is due to CL2017. All proceeds from the disposal of the Mediapolis assets, after payment of the first charge of �2,678,357 and the �165,719 ranked above unsecured creditors, including certain fees of the receiver, will be distributed pro-rata to the unsecured creditors.

Creditors have 15 days to challenge the ruling, with regards to their own approved creditor position.

Francesco Gardin, CEO and Executive Chairman of Clear Leisure, commented: The Court confirmation of the receivers proposal in favour of Clear Leisure 2017 Limiteds first charge over the Mediapolis land, is a positive result which sets a floor for our rights.

Meanwhile, the Company will pursue the final goal of obtaining clear ownership of the Mediapolis land, using its position as the largest creditor, which we have reached by buying debt at a discount of nearly 80% during 2016 and 2017.

Taking into account the interest accrued from the credits acquired, the discount is now calculated as being considerably higher than 80%. Had this not been done, we would currently have no rights over any funds invested into Mediapolis before July 2015, when the new Board was appointed and adopted its new strategy to reduce the debt on its portfolio of Italian assets. Moreover, we are in the process of assessing additional debt positions acquired by Clear Leisure in 2016 and 2017, which are very likely to increase further the current approved unsecured �8,211,897 creditors position.

[dave4545] 27/2/2018 12:56

cannot buy 50k and mm's bidding well over mid price at 0.78-0.83

[temmujin] 27/2/2018 12:54

i remember when it 10 bagged in a day

[cudmore] 27/2/2018 12:52

Be great to see this do a HEMO!

[dave4545] 27/2/2018 12:52

2 shake commences

[temmujin] 27/2/2018 12:52

dont fall for the treeshake...still hard to buy

[temmujin] 27/2/2018 12:50

yes bitcoin doing well today too...double whammy

[temmujin] 27/2/2018 12:48

40% up is nothing...i can see it doing 200% today

[temmujin] 27/2/2018 12:45

15million shares traded..gonna be a big afternoon

[temmujin] 27/2/2018 12:43

wouldnt surprise me if it goes up 200% today

[temmujin] 27/2/2018 12:42

hard to buy..in a queue

[dave4545] 27/2/2018 12:41

Looks like CLP are in this for over 8 mil euro's and have just won the first step

The market cap is under 3 mil

Should trade over 1p soon again

[nick rubens] 27/2/2018 12:40

This should be a significant increase in the NAV. Sounds like close to £3m is CLP's on the sale of the land.

I think this will really underpin the share price now.

[temmujin] 27/2/2018 12:35

SHOULD DOUBLE today when people wake up to the news