11 May 2018 14:43
11 May 2018
Clear Leisure Plc
("the Company")
Claim for breach of share purchase agreement
On 2 May 2018, the Company announced it had issued a claim in the High Court in London, arising from a breach of a share purchase agreement. The claimant in the action is the Company's wholly owned subsidiary Brainspark Associates Limited ("Brainspark").
The Company can now confirm that this claim arises out of Brainspark's investment in Fortune Cookie Limited ("Fortune Cookie") and the defendants to the action are Fortune Cookie and Mr Justin Cooke. Mr Cooke, an English entrepreneur, founded Fortune Cookie in 1997 and he sold it to the WPP Group in 2012. The value of the claim is between £700,000 and £5m.
-ends-
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. For further information, please visit, www.clearleisure.co.uk