Clear Leisure Plc - Mediapolis Update

                                                                                                                   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 €104,719 and other creditors ranked above unsecured creditors, but below the first charge, for €100,067.

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 €2.68 million, whilst the Company and CL2017 also hold an unsecured creditor position of approximately €8.21 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]

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 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

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