Legal claim update

RNS Number : 8590N

Clear Leisure PLC

11 May 2018

 

                                                                                                                                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                                                                                            [phone]

Francesco Gardin, CEO and Executive Chairman

SP Angel Corporate Finance (Nominated Adviser & Broker)                [phone]

Jeff Keating / John Mackay                                                                                                         

Leander (Financial PR)                                                                           [phone]

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

 

END

 

 

MSCXFLFFVEFZBBF