6 May
2020
Clear Leisure Plc
(“Clear Leisure” or “the Company”)
Covid-19
Update
The board of Clear Leisure (AIM: CLP) is pleased to give
shareholders an update on the impact of Covid-19 pandemic on
Company operations.
All Italian civil and criminal ordinary legal proceedings, as
well as all procedural time limits/time bars, have been suspended
from 9 March 2020 until 11 May 2020. This suspension only concerns cases
where the time limits/time bars fall within the above period.
Hearings scheduled during this period will be adjourned to a new
date. Mediations are also suspended until 11
May 2020.
The Italian Courts remain open but only for urgent matters such
as arrests or payment injunctions which can be filled
electronically.
All Courts in Italy have
cancelled hearings and submissions deadlines until the 11 May 2020, meanwhile all activities which can
be performed remotely have continued to function.
The hearing in the Venice Court
in respect of the Sipeim SpA claim, scheduled for 6 May has
therefore been postponed and a new date will be confirmed by the
Court as soon as practical. The proceedings in respect of the
Sosushi Company srl claim may be affected as well, although a
preliminary ruling on a possible arbitration rather than a trail in
court should not be affected since all information in respect of
the claim is available to the Court.
Our Investee companies, namely, ForCrowd srl and PBV Monitor
srl, have been slightly affected by the current situation,
both in terms of delays in revenue generation and some development
activities, however, this is having limited impact on the cashflow
of these companies, which have material headroom to absorb a
several month slowdown of their business.
The Company will provide an update on Mediapolis and its other
‘historical’ assets within the next two weeks.
COVID-19 Initiative
In conjunction with ForCrowd srl (“ForCrowd”) the Italian
crowdfunding platform in which the Company has a 20% interest,
Clear Leisure has supported SIMP Societá Italiana Medicina
Psicosomatica (Italian Society for Psychosomatic Medicine) and
Universitá degli Studi di Milano
(Milan State University) to develop an on-line platform
infrastructure to support the delivery of psychotherapeutic help to
Lombardy Covid-19 frontline medical and paramedical staff, and also
to the general public who, in the region, have been directly and
indirectly affected by the virus pandemic. This has been
undertaken by the Company as a charitable activity in response to
the COVID-19 pandemic. Below is a link to the initiative, in
Italian:
https://www.telepsy-covid19.it/?fbclid=IwAR1me2rpqeUtlyZkv29ZUs3tp6qf7cDvI9FEYX5rqnVHCtaOWJhDZOcjhNk
The platform provides infrastructure for psychotherapists who
are providing free services to assist their patients. Clear
Leisure has been instrumental in providing free advice for the
coordination of the project, design and implementation of the
platform, whilst ForCrowd has supported the project with a small
donation for its development and cloud hosting.
Clear leisure also intends to provide free usage of this
platform to organisations looking to offer similar services in the
UK, as well as an introduction to SIMP to share information on the
psychotherapy protocols being used.
-ends-
This announcement
contains inside information for the purposes of Article 7 Of EU
Regulation 596/2014
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
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
which has recently realigned its strategic focus to technology
related investments, with special regard to interactive media,
blockchain and AI sectors. The Company also owns shareholdings in a
number of historic investments primarily in the Italian real estate
companies, which it is currently seeking compensation through court
action.
For further information, please
visit, www.clearleisure.co.uk