Claim Against Regione Piemonte

Claim Against Regione Piemonte

Clear Leisure plc

30 May 2014

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

Claim Against Regione Piemonte

Clear Leisure, the AIM traded (AIM: CLP) specialist investment company, announce that on 29 May 2014, its subsidiary, Mediapolis has asked its Italian lawyers to file a formal complaint and claim for damages of EUR 34.5 million (the appraised value of the Mediapolis land made in relation of the Ivrea Tribunal procedure), against the Regione Piemonte.

This claim is directly related to the recent decision by the Ivrea Tribunal against the Company’s “Concordato in continuità” procedure which was not accepted by the Tribunal, due to the lack of formal answer from Regione Piemonte on the remaining construction permit, and that the fault of the Regione Piemonte is clearly stated on the decision passed by the Tribunal.

The Company believes that the new President of Regione Piemonte, recently elected on 26 May, will consider this issue quickly. Should a prompt response be forthcoming from the Region, the Company may consider retiring its legal claim.

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For further information please contact:

Clear Leisure plc	Â	[phone]
Alfredo Villa, CEO
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Cairn Financial Advisers LLP (Nominated Adviser)		[phone]
Jo Turner
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Peterhouse Corporate Finance (Joint Broker)		[phone]
Jon Levinson / Heena Karani
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Leander (Financial PR)		[phone]
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