Clear Leisure Plc Mediapolis Court Update and Bitcoin Mining
June 12 2018 - 3:14AM
UK Regulatory
TIDMCLP
12 June 2018
Clear Leisure plc
("Clear Leisure" or "the Company")
Update - Mediapolis Court and Bitcoin Data Mining
Mediapolis
Clear Leisure (AIM: CLP) is pleased to report that, further to the announcement
released on 2 May 2018 detailing the hearing at the Ivrea Court to discuss
additional creditor positions proposed by the receiver to Mediapolis Srl
("Mediapolis"), it has now received confirmation from its Italian legal adviser
that the list of creditors approved on 13 April 2018 is final.
As previously noted by the Company, the last day for filing claims by creditors
was 16 May 2018. The Company has received confirmation that no further
petitions have been filed to challenge the Clear Leisure and Clear Leisure 2017
Ltd, ("CL2017") creditor positions. Consequently, the Clear Leisure and CL2017
positions as creditors of Mediapolis have become irrevocable and
unchallengeable.
The Company owns the following confirmed creditor positions in Mediapolis:
* First charge mortgage (held by CL2017) for EUR2,678.357
* Unsecured creditor position of EUR8,211,897
The Company will shortly commence negotiations with the receiver to establish
the most appropriate strategy to ensure a satisfactory conclusion is reached
for Clear Leisure and the other creditors of Mediapolis. The other unsecured
creditors include an amount of EUR165,718 to parties ranked below the First
Charge and the claim filed by the Italian Ministry of the Economy for EUR
2,798,620.
At this time, the board is not able to estimate the timeline for these
negotiations or future court hearings, but will update shareholders as and when
certain milestones have been reached.
Bitcoin Data Mining
The Company is also pleased to announce that the Company's bitcoin mining data
centre has been successfully shipped to Serbia, where it is currently in
customs ahead of arriving on site later this week. Following the successful
testing of the unit in Italy, it is expected to be running at full capacity for
Bitcoin extraction within a few days of arrival. The Company remains
comfortable in its choice of Serbia as one of the best locations in Europe for
low cost energy. However, Clear Leisure and its joint venture partner will seek
to ensure that the best available energy rates are being utilised. As the data
centre unit is mobile, moving the operation to another location is not expected
to be a difficult task.
Please visit: www.clearleisure.co.uk to see photos of the data centre in
transit.
-ends-
Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
until the release of this announcement.
For further information please contact:
Clear Leisure Plc
+39 335 296573
Francesco Gardin, CEO and Executive Chairman
SP Angel Corporate Finance (Nominated Adviser & Broker) +44 (0)20
3407 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 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 launched a joint venture initiative in the
cryptocurrency mining sector. For further information, please visit,
www.clearleisure.co.uk
END
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