Clear Leisure Plc Sipiem Court Update

 
TIDMCLP 
 
27 October 2020 
 
                               Clear Leisure Plc 
                      ("Clear Leisure" or "the Company") 
 
                                 Sipiem Update 
 
The board of Clear Leisure (AIM: CLP) is pleased to give shareholders an update 
on its EUR10.8 million Sipiem SpA in Liquidazione ("Sipiem") legal claim against 
the previous management and audit committee, which has been previously 
notified. 
 
The independent expert appointed by the Court has formally accepted the 
appointment under oath at a Court hearing held on 21 October 2020. The expert 
will start his assessment work on 5 November 2020. 
 
Sipiem, the claimant, has appointed its own expert and the defendants have 
appointed two separate experts. 
 
The judge has set the hearing for consideration of the expert reports for 10 
March 2021. 
 
The Company remains confident on the strong foundations of the claim. 
 
Francesco Gardin, Executive Chairman and CEO of Clear Leisure, commented, "We 
are very pleased with the tight timeline, set by the Venice judge, for the 
Sipiem claim. The March 2021 hearing is expected to be extremely informative as 
the amount of claimed damages will be formally submitted by the independent 
expert in his report to the judge". 
 
This announcement contains inside information for the purposes of Article 7 of 
Regulation (EU) No 596/2014. 
 
                                    -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 which has 
recently realigned its strategic focus to technology related investments, with 
special regard to interactive media, blockchain and AI sectors. The Company 
also has shareholdings in a number of historical investments, primarily in 
Italian real estate companies, which it is currently seeking through court 
action, compensation from previous management for mismanagement. 
 
For further information, please visit, www.clearleisure.co.uk 
 
 
 
END 
 

(END) Dow Jones Newswires

October 27, 2020 03:00 ET (07:00 GMT)