22 August
2017
Clear Leisure
Plc
(“Clear Leisure” or “the
Company”)
Mediapolis hearing
update: Further extension granted by the Court
Further to the Company’s announcement on 20 July 2017, that the Ivrea Court had agreed to
accept submission of additional debt settlement agreements reached
with Mediapolis creditors, the Court has advised both the Company
and the Prosecutor that a new (bankruptcy) hearing date has been
set for 29 September 2017.
In extending the date for the hearing, the Court magistrates of
the Ivrea Tribunal noted the results achieved by the Company so far
and that, due to the complexity of the various debt agreements, the
Court has recognised the need to provide more time to conclude
negotiations with creditors.
The Court has, therefore granted an extension to 29 September 2017 to allow Mediapolis to finalise
settlement agreements with the main creditors and present this
evidence at the new hearing.
The Company will provide a further update to shareholders when
material settlements are signed and/or the findings of the Court
are received after 29 September
2017.
Francesco Gardin, CEO and
Executive Chairman of Clear Leisure, commented, "This positive
development allows us further time to try and secure an agreed
outcome."
-ends-
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 / Luis Brime
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.co.uk