20 July 2017
Clear Leisure Plc
("the Company")
Mediapolis Court Hearing Update
Further to the Company's announcement on 26 June, the Board is pleased to announce that, the Court has agreed to accept the submission of additional debt settlement agreements reached with Mediapolis creditors. The Court has agreed to re-open the information acquisition phase of the hearing, which was previously closed on 23 of June, in order to assess the latest documents provided.
Mediapolis is entitled to provide any additional settlements achieved with creditors in the meantime.
The Company will provide a further update to shareholders when the findings of the court are received.
Francesco Gardin, CEO and Executive Chairman of Clear Leisure, commented, "Although this does not guarantee a successful outcome, this is a significant step forward for us; getting the courts to re-open the case based on the new documentation we have submitted is a very positive legal result."
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For further information please contact:
Clear Leisure plc +39 335 296573
Francesco Gardin, CEO and Executive Chairman
ZAI Corporate Finance (Nominated Adviser) +44 (0)20 7060 2220
Tim Cofman / John Treacy
Peterhouse Corporate Finance (Broker) +44 (0) 20 7469 0935
Lucy Williams / Heena Karani
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. For further information, please visit, www.clearleisure.com
