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Clear Leisure Plc (CLP)

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Thursday 23 January, 2014

Clear Leisure Plc

Positive Update on Court Proceedings

Positive Update on Court Proceedings

Clear Leisure plc

23 January 2014

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

Positive Update on Court Proceedings

Further to the announcement of 13 January 2014, the Company is pleased to announce that it has received an initial positive reply from the Ivrea Tribunal regarding Mediapolis’s "procedura di Concordato in Continuità" with the formal nomination by the tribunal of an external independent professional assessor, who has been charged to evaluate the quality and feasibility of the proposed plan submitted by the Company.

This independent evaluation has to be presented to the tribunal on or before 15 February, following which the court, should the assessment be positive, will make its formal approval of the plan.

Regarding the status of its hotel company, ORH SpA, the Company will provide further information to the market in the second week of February.

-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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