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17 August 2020 
 
                               Clear Leisure Plc 
                      ("Clear Leisure" or "the Company") 
 
                                Business Update 
 
The board of Clear Leisure (AIM: CLP) is pleased to give shareholders a 
business update on its investment portfolio, new initiatives and the ongoing 
claims relating to its historical assets. 
 
Sipiem SpA ("Sipiem") 
 
The second court hearing in respect of the legal action against the former 
directors of Sipiem,  scheduled for 6 May 2020 in the Venice Court, has been 
postponed to 30 September 2020, due to delays in the court system brought about 
by Covid-19. The Company's lawyers have filed additional documentary evidence 
to support the claim on 29 June 2020. 
 
As previously reported, legal representatives of all parties involved in the EUR 
10.8m claim, as referred to in the RNS of 10 September 2019, will by present 
when the court case is convened next month, including legal representatives of 
the two insurance companies, (which are among the largest operating in Europe) 
and which provided the professional indemnity cover to the majority of the 
eight defendants, as reported in the RNS of 10 February 2020. 
 
The Company remains confident on the strong foundations of the claim. 
 
Forcrowd srl ("Forcrowd") 
 
On 18 July 2020, Forcrowd, in which Clear Leisure has a 20% interest and is one 
of Italy's newest crowdfunding platforms, launched its second crowdfunding 
campaign, for an Italian technology company, Meta Wellness Srl. 
 
Meta Wellness has developed a proprietary communications "wearable" bracelet 
for sport and wellness. During the early days of the Covid-19 pandemic, Meta 
Wellness began converting its existing wearable bracelet into a distancing 
monitor bracelet and has begun to sign a number of contracts with companies 
within Italy and across the world. 
 
Meta Wellness has a current capital raising target of up to EUR1.5m, with the 
campaign closing on 31 October 2020. Clear Leisure will be paid 1 per cent. of 
any funds raised by Meta Wellness on Forcrowd as part of the existing 
shareholder agreement with Forcrowd. 
 
The Company has identified a number of innovative technology start-ups as 
potential candidates for new campaigns to be launched on Forcrowd's platform in 
the Autumn. With regards to the companies which applied to launch a capital 
raise on the platform, and which the Company referred to in its announcement 
dated 28 January 2020, only B4TECH was approved by Forcrowd's Scientific 
Committee and board of directors and has, to date, raised EUR50,000 out of its 
target of EUR250,000. The B4TECH fundraise will close on 23 August 2020 and it 
will be up to the Company and the investors to decide, at the end of the 
campaign, whether to close at a potentially lower amount, or to extend the 
deadline or cancel the campaign. 
 
PBV Monitor srl ("PBV") 
 
PBV, in which Clear Leisure has a 10% interest, having secured (as per RNS of 
28 January) additional funding, intends to launch its new Intelligence Search 
online service in September 2020, while continuing its editorial and seminars 
activity. 
 
Bitcoin Mining 
 
The Company continues to monitor trends in the cryptocurrency market, while 
waiting for the right time to relocate the data mining facility from Serbia and 
resume profitable cryptocurrency extraction. As the Bitcoin price has recovered 
this year to nearly $12,000, arrangements are being put in place to transfer 
the data mining "container" to Italy. Previous plans in March for a similar 
move were delayed due to the restrictions brought about by Covid-19. 
 
New Technology Investment Initiative 
 
Clear Leisure is in the early stages of launching a new investment initiative 
focused on high growth technology companies. The Company has engaged Sapphire 
Capital Partners LLP, (https://www.sapphirecapitalpartners.co.uk/) a London and 
Belfast-based FCA approved and regulated investment management partnership, to 
act as the Investment Manager to establish and manage an EIS fund aimed at 
professional and qualifying retail investors. Sapphire currently manages 33 
funds with approximately GBP60 million under management. 
 
The proposed fund will seek to invest in companies which focus on the 
integration of biological and digital systems. 
 
Clear Leisure will scout, source, analyse and perform due diligence on 
innovative startups within this industry and mainly in the UK, while the final 
investment decision will be approved by Sapphire Capital. The target 
fundraising for the fund is GBP10m, with an initial round of GBP3m. No dilution 
will take place of shareholders in Clear Leisure. 
 
Once the Fund Information Memorandum is finalised and FCA approval granted, 
which could take several months, potential investors will be approached to 
commence fund raising. 
 
At this stage there is no certainty that the fund will be granted FCA approval 
or that it will be successful in reaching its target fundraising. 
 
Mediapolis SA ("Mediapolis") 
 
The Company has now received EUR1,480,932, being the first tranche (89%) of the 
court approved settlement. 
 
In respect of the administrative claim filed against the Piedmont Region in 
February 2015 by Mediapolis' previous management team, for the amount of EUR 
39.65m, the Receiver of Mediapolis has continued to pursue the case through the 
Italian courts. The Company has been informed that the claim has now reached 
the final stages of court trials (which commenced in February 2020), with the 
latest hearing being held on 6 July 2020. The ruling is expected within 60 days 
of this date. 
 
The Company is no longer involved in any court proceedings which involve 
Mediapolis following the final settlement with the Receiver of Mediapolis and 
has therefore little knowledge as to the likely success or failure of the 
ongoing action against Piedmont Region. The Company understands, however, that 
83% of any proceeds from this case in excess of EUR3m (this being the amount owed 
to existing creditors), would be payable to the Company as a shareholder of 
Mediapolis. 
 
Geosim 
 
The Israeli portfolio company has delivered on its project in Asia to build a 
Digital Twin model of an international airport, despite the inevitable delays 
due to Covid-19. 
 
The Milan and London Digital Twin projects, as announced on 16 December 2019, 
are currently on hold, waiting for general market conditions to return to more 
normal levels. These delays are necessary in order to avoid the risk of 
interrupting data acquisition which could be a possibility should further 
lock-down restrictions be reestablished. There is also currently limited 
mobility of the staff needed onsite. 
 
Eufingest loans 
 
Following receipt of the Mediapolis funds referred to above, EUR550,000 plus 
interest of EUR11,157, has been repaid to Eufingest. 
 
Delay to the notification of Interim Results for the six months ended 30 June 
2020 
 
The Company also wishes to notify shareholders that pursuant to the guidance 
published by the London Stock Exchange in respect of the temporary measures for 
the publication of half-yearly reports for AIM companies pursuant to AIM Rule 
18 of the AIM Rules for Companies, Clear Leisure intends to utilise the 
additional one month period to prepare and notify shareholders of the Company's 
interim results for the six months ended 30 June 2020. As such the Company will 
release its Interim Results no later than 30 October 2020. 
 
Francesco Gardin, Executive Chairman and CEO of Clear Leisure, commented, "We 
are particularly excited with the new technology investment initiative, which 
we hope will receive all the necessary approvals and be able to start raising 
funds within the next six months. We will be investing in only the most 
innovative companies in the new frontier area of the merger of biological and 
digital systems. This new frontier industry has been the focus of extensive 
research work carried out between myself and a former colleague at the Milan 
University during the last two years, under a formal cooperation agreement with 
the Medical School of the same university." 
 
"Finally, we have specifically chosen to make these proposed investments via a 
stand-alone investment vehicle, rather than to raise funds directly through 
Clear Leisure, in order to limit the dilution of our shareholder base." 
 
This announcement contains inside information for the purposes of Article 7 of 
Regulation (EU) No 596/2014. 
 
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 
 
 
 
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 which has 
recently realigned its strategic focus to technology related investments, with 
special regard to interactive media, blockchain and AI sectors. The Company 
also owns shareholdings in a number of historical investments primarily in the 
Italian real estate companies, which it is currently seeking compensation 
through court action. 
 
For further information, please visit, www.clearleisure.co.uk 
 
 
 
END 
 

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