Settlement of Mediapolis Debt Position

19 September 2017

Clear Leisure plc
("Clear Leisure" or "the Company")

Settlement of Mediapolis Debt Position

Further to yesterday’s release of the Company’s interim results for the six months to 30 June 2017 and the movement in the Company’s share price, Clear Leisure plc (AIM: CLP), wishes to clarify the position in relation to on-going negotiations with creditors of its subsidiary, Mediapolis Spa. Whilst there has been no agreement subsequent to release of the interim results, the Company advises that its negotiations are in an advanced stage and if successful, the discount on buying back various debts of Mediapolis SpA would amount to circa €4.4 million, at a proposed discount of about 87 percent.

If these negotiations are successful and the proposed discount is agreed this would equate, on a consolidated basis, to a significant improvement in the Group’s balance sheet of approximately €3.8 million or circa 1.24 pence per share.

Francesco Gardin, Chairman and CEO of Clear Leisure, commented, “These agreements would represent a key step forward in the Company’s strategy of restructuring the Group’s debt and ring-fencing of assets. They should also strengthen Clear Leisure’s argument to have the winding up petition dismissed when the Ivrea Court reconvenes on 29 September.”

-ends-

For further information please contact:

Clear Leisure plc
[phone]

Francesco Gardin, CEO and Executive Chairman

ZAI Corporate Finance (Nominated Adviser)
[phone]

Tim Cofman/ John Tracy/ Luis Brime Berdugo                                                                            

Peterhouse Corporate Finance (Broker)
[phone]

Lucy Williams / Heena Karani

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