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Clear Leisure Plc - Sipiem Court Update

27 October 2020

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

Sipiem Update

The board of Clear Leisure (AIM: CLP) is pleased to give shareholders an update on its €10.8 million “ legal claim against the previous management and audit committee, which has been previously notified.Sipiem SpA in Liquidazione (Sipiem”)

The independent expert appointed by the Court has formally accepted the appointment under oath at a Court hearing held on . The expert will start his assessment work on .21 October 20205 November 2020

Sipiem, the claimant, has appointed its own expert and the defendants have appointed two separate experts.

The judge has set the hearing for consideration of the expert reports for .10 March 2021

The Company remains confident on the strong foundations of the claim.

, “We are very pleased with the tight timeline, set by the judge, for the Sipiem claim. The hearing is expected to be extremely informative as the amount of claimed damages will be formally submitted by the independent expert in his report to the judge”., Executive Chairman and CEO of Clear Leisure, commentedFrancesco GardinVeniceMarch 2021

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

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For further information please contact:

                                                                                  +39 335 296573 , CEO and Executive ChairmanClear Leisure Plc
Francesco Gardin

(Nominated Adviser & Broker)      +44 (0)20 3470 0470 , John Mackay                                                                                               SP Angel Corporate Finance
Jeff Keating

(Financial PR)                                                                 +44 (0) 7795 168 157Leander
Christian Taylor-Wilkinson

About Clear Leisure Plc

Clear Leisure plc (AIM: CLP) is an AIM listed investment company which has recently realigned its strategic focus to technology related investments, with special regard to interactive media, blockchain and AI sectors. The Company also has shareholdings in a number of historical investments, primarily in Italian real estate companies, which it is currently seeking through court action, compensation from previous management for mismanagement.

For further information, please visit, www.clearleisure.co.uk

Quick facts: Clear Leisure PLC

Price: -

Market: AIM
Market Cap: -
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