Sipiem Court Hearing Update

11 March 2021

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

Sipiem Court Hearing Update

The Board of Clear Leisure (AIM: CLP) wishes to advise that due to the Covid-19 delays at the Court of Venice, the Court hearing due to be held on 10 March 2021 has been rescheduled to 26 May 2021.

At the hearing, the previously appointed independent expert will inform the Judge of the Court about the final assessment of the economic merit of the claim against Sipiem’s previous management and internal audit committee.

Despite a slight delay in the Court hearing, the Company remains confident of the outcome of the litigation, given the strong foundations of the claim.

Francesco Gardin, Executive Chairman and CEO of Clear Leisure, commented, “Given the advanced stage of the process, the remaining legal work will require very limited involvement of the Company’s management, allowing the main focus of the Company to be its new cryptocurrencies investment strategy.”

For further information please contact:

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