Clear Leisure Plc Mediapolis hearing update

 
TIDMCLP 
 
29 September 2017 
 
                               Clear Leisure Plc 
                      ("Clear Leisure" or "the Company") 
 
                           Mediapolis hearing update 
 
As previously advised by the Company, the Ivrea Court reconvened today for the 
hearing to consider the winding up petition of Mediapolis srl. No announcement 
has been issued by the Court regarding today's proceedings and no firm date has 
been given as to when the Court will announce its findings. 
 
However, the Company has provided to the Court further evidence of settlements 
with creditors, including the EUR500,000 payment to settle a EUR4.29 million loan 
with the transfer of the right to Clear Leisure. The Company has irrevocably 
committed to convert the full amount of this EUR4.29 million in Mediapolis srl 
into new capital, at a General Meeting of Mediapolis' shareholders to be held 
in due course. 
 
Francesco Gardin, CEO and Executive Chairman of Clear Leisure, commented, 
"Although we are, obviously, hoping for a favourable ruling as a result of both 
the new evidence Mediapolis' lawyers submitted to the Court today and that 
tendered over the past months, the outcome remains in the hands of the judges." 
 
                                    -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) 
[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. For further information, please visit, www.clearleisure.co.uk 
 
 
 
END 
 

(END) Dow Jones Newswires

September 29, 2017 05:25 ET (09:25 GMT)