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WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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ACCESS TO YOUR INFORMATION AND CORRECTION

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You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

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CONTACT

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Clear Leisure Plc (CLP)

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Tuesday 07 January, 2014

Clear Leisure Plc

Additional Offer for Mediapolis

Additional Offer for Mediapolis

Clear Leisure plc

7 January 2014

Clear Leisure Plc
(“Clear Leisure” or “the Company”)

Additional Offer for Mediapolis

Further to the announcement of 22 November 2013, the Board of Clear Leisure Plc announces that the Company has received an additional unsolicited, but binding offer (the “Binding Proposal”) to acquire the Company’s entire holding (directly and indirectly held by the Company) in Mediapolis S.p.A. (“Mediapolis”).

This Binding Proposal has been made by Fornest Ltd, a UK investment company, which manages the interests of certain Italian investors.

The offer is for EUR 20 million in cash, of which EUR 13 million would be used to settle the outstanding debts of Mediapolis. The consideration receivable by the Company, should the Binding Proposal be accepted, is equivalent to 3 pence per share in the Company.

This offer is identical in terms of price and conditions to the cash version of the proposal received from Generali Investimenti, referred to in the 22 November 2013 announcement, but differs in that this offer will lapse, unless accepted by the Company, on or before 30 September 2014, instead of 30 April 2014, under the terms of the Generali offer.

This timeframe increases the chances that the two conditions for the execution of the offer: a) the approval by the tribunal court of Ivrea (Italy) of the proposal to restructure the Mediapolis debt and b) the receipt of the final building approval by the Regione Piemonte (the local regional authority), will be satisfied.

In relation to the authorisation procedure, a number of MPs from the region where Mediapolis is sited (Regione Piemonte) have recently proposed to the regional government authorities and to the Company, a possible merger of the Mediapolis land into a large real estate regional fund, managed by Prelios, www.prelios.com, a company listed on the Milan stock exchange, with a EUR 165 million market capitalisation and EUR 9.5 billion under management, which would include a large developed property in Scarmagno, a location close to the one of Mediapolis. Were this merger to go ahead, it would create one of the largest leisure developments in Europe.

Given the obvious value creation potential offered by this merger approach, the Company will evaluate this alternative alongside the two existing acquisition offers for Mediapolis.

Finally, the Company is pleased to announce that it has received the final legal appraisal of the value of the Mediapolis land, to be presented in relation to the restructuring of the Mediapolis debt to the Ivrea Tribunal. The appraisal values the Mediapolis land at EUR 35.6 million, equivalent to approximately 6.9 pence (net) per share in the Company, after having satisfied all the related debt.

Alfredo Villa, Chief Executive Officer of Clear Leisure, commented: “We are pleased to have received another unsolicited offer for Mediapolis which re-confirms the minimum valuation of EUR 20 million for the asset. This additional proposal with its extended timeframe reinforces the possibility that the two conditions to the offer will be satisfied. In addition, the political support and the proposed alternative to merge the Mediapolis land into a large real estate fund, which also owns strategic and compatible assets, will be considered by the Company’s Board with a view to maximising the value of our investment.”

-ends-

For further information please contact:

Clear Leisure Plc           +39 02 4795 1642
Alfredo Villa, CEO
 
Westhouse Securities (Nominated Adviser and Joint Broker) +44 (0) 20 7601 6100
Antonio Bossi
 
Peterhouse Corporate Finance (Joint Broker) +44 (0) 20 7469 0935
Jon Levinson / 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 pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the leisure and real estate sectors mainly in Italy but also other European countries. The Company may be either a passive or active investor and Clear Leisure’s investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions. For further information, please visit, www.clearleisure.com


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