CLP.L Regulatory News (CLP)

Clear Leisure Plc - Mediapolis Court Hearing Update

PR Newswire

London, August 22

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