Clear Leisure Plc Mediapolis Court Hearing Update

 
TIDMCLP 
 
22 August 2017 
 
                               Clear Leisure Plc 
 
                      ("Clear Leisure" or "the Company") 
 
       Mediapolis hearing update: Further extension granted by the Court 
 
Further to the Company's announcement on 20 July 2017, that the Ivrea Court had 
agreed to accept submission of additional debt settlement agreements reached 
with Mediapolis creditors, the Court has advised both the Company and the 
Prosecutor that a new (bankruptcy) hearing date has been set for 29 September 
2017. 
 
In extending the date for the hearing, the Court magistrates of the Ivrea 
Tribunal noted the results achieved by the Company so far and that, due to the 
complexity of the various debt agreements, the Court has recognised the need to 
provide more time to conclude negotiations with creditors. 
 
The Court has, therefore granted an extension to 29 September 2017 to allow 
Mediapolis to finalise settlement agreements with the main creditors and 
present this evidence at the new hearing. 
 
The Company will provide a further update to shareholders when material 
settlements are signed and/or the findings of the Court are received after 29 
September 2017. 
 
Francesco Gardin, CEO and Executive Chairman of Clear Leisure, commented, "This 
positive development allows us further time to try and secure an agreed 
outcome." 
 
                                    -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) 
                                                                    +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 
 
 
 
END 
 

(END) Dow Jones Newswires

August 22, 2017 07:32 ET (11:32 GMT)