Clear Leisure Plc Claim Settlement
December 12 2018 - 2:00AM
UK Regulatory
TIDMCLP
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 GBP1.15 million (before legal and
insurance expenses of nearly GBP300,000) payable in cash to Clear Leisure.
The settlement will be paid in two tranches: the first being GBP500,000 payable
by 14 December 2018 and the second tranche of GBP650,000 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
END
(END) Dow Jones Newswires
December 12, 2018 02:00 ET (07:00 GMT)
Quantum Blockchain Techn... (LSE:QBT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Quantum Blockchain Techn... (LSE:QBT)
Historical Stock Chart
From Apr 2023 to Apr 2024