Clear Leisure Plc Mediapolis Update

 
TIDMCLP 
 
1 February 2019 
 
                               Clear Leisure Plc 
 
                      ("Clear Leisure" or "the Company") 
 
                               Mediapolis Update 
 
The Board of Clear Leisure (AIM: CLP) advises that it has been informed by its 
legal advisors that the terms for filing the Mediapolis appeal to the Court of 
Cassation (Supreme Court) is now 6 months, rather than the 60 days as announced 
on 3 December 2018. This is as a result of the notification procedure adopted 
by the Ivrea Court, which allows for a longer term to appeal for the Company. 
 
Notwithstanding the extended deadline, the Company has already instructed its 
legal advisors to draft and file the appeal. 
 
In addition, the Board has been notified that at the creditors hearing held at 
the Ivrea Court on 25 January 2019, the creditors list of Mediapolis has been 
updated to include late admission requests. 
 
Further to the announcement of 12 June 2018, the Court has admitted further 
unsecured creditors to the amount of EUR104,719 and other creditors ranked above 
unsecured creditors, but below the first charge, for EUR100,067. 
 
Clear Leisure 2017 Ltd ("CL2017"), the Company's wholly owned subsidiary, is 
the beneficiary of a first charge on the Mediapolis land up to an amount of 
approximately EUR2.68 million, whilst the Company and CL2017 also hold an 
unsecured creditor position of approximately EUR8.21 million on Mediapolis. 
 
                                    -ends- 
 
For further information please contact: 
 
Clear Leisure Plc 
 
[phone] 
 
Francesco Gardin, CEO and Executive Chairman 
 
SP Angel Corporate Finance (Nominated Adviser & Broker)         [phone] 
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 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 realigned its strategic focus to technology 
related investments, with special regard to interactive media, blockchain and 
AI sectors. For further information, please visit, www.clearleisure.co.uk 
 
 
 
END 
 

(END) Dow Jones Newswires

February 01, 2019 08:39 ET (13:39 GMT)