Clear Leisure Plc Mediapolis Court Update and Bitcoin Mining

 
TIDMCLP 
 
12 June 2018 
 
                               Clear Leisure plc 
                        ("Clear Leisure" or "the Company") 
 
               Update - Mediapolis Court and Bitcoin Data Mining 
 
Mediapolis 
 
Clear Leisure (AIM: CLP) is pleased to report that, further to the announcement 
released on 2 May 2018 detailing the hearing at the Ivrea Court to discuss 
additional creditor positions proposed by the receiver to Mediapolis Srl 
("Mediapolis"), it has now received confirmation from its Italian legal adviser 
that the list of creditors approved on 13 April 2018 is final. 
 
As previously noted by the Company, the last day for filing claims by creditors 
was 16 May 2018. The Company has received confirmation that no further 
petitions have been filed to challenge the Clear Leisure and Clear Leisure 2017 
Ltd, ("CL2017") creditor positions. Consequently, the Clear Leisure and CL2017 
positions as creditors of Mediapolis have become irrevocable and 
unchallengeable. 
 
The Company owns the following confirmed creditor positions in Mediapolis: 
 
  * First charge mortgage (held by CL2017) for EUR2,678.357 
 
  * Unsecured creditor position of EUR8,211,897 
 
The Company will shortly commence negotiations with the receiver to establish 
the most appropriate strategy to ensure a satisfactory conclusion is reached 
for Clear Leisure and the other creditors of Mediapolis. The other unsecured 
creditors include an amount of EUR165,718 to parties ranked below the First 
Charge and the claim filed by the Italian Ministry of the Economy for EUR 
2,798,620. 
 
At this time, the board is not able to estimate the timeline for these 
negotiations or future court hearings, but will update shareholders as and when 
certain milestones have been reached. 
 
 
Bitcoin Data Mining 
 
The Company is also pleased to announce that the Company's bitcoin mining data 
centre has been successfully shipped to Serbia, where it is currently in 
customs ahead of arriving on site later this week. Following the successful 
testing of the unit in Italy, it is expected to be running at full capacity for 
Bitcoin extraction within a few days of arrival. The Company remains 
comfortable in its choice of Serbia as one of the best locations in Europe for 
low cost energy. However, Clear Leisure and its joint venture partner will seek 
to ensure that the best available energy rates are being utilised. As the data 
centre unit is mobile, moving the operation to another location is not expected 
to be a difficult task. 
 
Please visit: www.clearleisure.co.uk to see photos of the data centre in 
transit. 
 
                                    -ends- 
 
Certain information contained in this announcement would have been deemed 
inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 
until the release of this announcement. 
 
 
 
For further information please contact: 
 
Clear Leisure Plc 
                           [phone] 
Francesco Gardin, CEO and Executive Chairman 
 
SP Angel Corporate Finance (Nominated Adviser & Broker)           +44 (0)20 
3407 0470 
Jeff Keating / John Mackay 
 
 
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. The Company has recently launched a joint venture initiative in the 
cryptocurrency mining sector. For further information, please visit, 
www.clearleisure.co.uk 
 
 
 
END 
 

(END) Dow Jones Newswires

June 12, 2018 03:14 ET (07:14 GMT)