THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION
596/2014
12 December
2018
Clear Leisure
Plc
(“Clear Leisure” or “the
Company”)
Claim
Settlement
The board of Clear Leisure is pleased to announce that,
following the case management conference at the High Court on
9 November 2018 referred to in the
Company’s notification of 13 November
2018, a full and final settlement has been reached with the
defendants in the sum of £1.15 million (before legal and insurance
expenses of nearly £300,000) payable in cash to Clear Leisure.
The settlement will be paid in two tranches: the first being
£500,000 payable by 14 December 2018
and the second tranche of £650,000 is payable by 7 March 2019.
Francesco Gardin, CEO and
Executive Chairman of Clear Leisure, commented, “We are very
pleased to have settled this case before the planned court hearing
next year and for a sum which we believe reflects the appropriate
outcome of our original investment, under the original share
purchase agreement.
“This is the Company’s second successful asset disposal since
the new board was appointed in 2015, and we will continue to
prosecute strenuously our other investments where we believe the
chance of achieving a positive financial settlement is high.”
-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
3470 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