CLP.L Share News (CLP)

Shares in AIM tiddler Clear Leisure soared from their miniscule base on encouraging news about the valuation of its investment in an Italian theme park company and potential interested buyers for some or all of its assets.After Clear Leisure, which is the investment vehicle of Italian financier Alfredo Villa, invested €0.19m as part of a €0.5m fundraising by Mediapolis, the AIM company now has a 71.7% direct stake in the Italian business, with a beneficial interest over 84.04% of the equity and 87.74% of the voting rights.A recent "certified appraisal and valuation" of Mediapolis, which is the owner of a site between Milan and Turin with plans for the development of a theme park, attributed a net equity value of €24.4m to the company.An extraordinary general meeting also resolved that Mediapolis be allowed to issue new equity of €13m to creditors for subscription or conversion of debt by 31 December 2015 as a means of reducing or eliminating its overall debt.At the meeting, shareholders were also presented with the first update report from Avalon Agency, the consultants engaged by the company to seek potential buyers for some or all of Mediapolis's assets."This report stated that there are five parties currently undertaking negotiations and due diligence on the assets of the business."