Clear Leisure Plc Mediapolis Court Hearing Update
August 22 2017 - 6:32AM
UK Regulatory
TIDMCLP
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
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