Business
Claim Settlement
Claim Settlement.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014\n\n12 December 2018\n\nClear Leisure Plc\n\n(“Clear Leisure†or “the Companyâ€)\n\nClaim Settlement\n\nThe board of Clear Leisure is pleased to announce that, following the case management conference at the High Court on 9 November 2018 referred to in the Company’s notification of 13 November 2018, a full and final settlement has been reached with the defendants in the sum of £1.15 million (before legal and insurance expenses of nearly £300,000) payable in cash to Clear Leisure.\n\nThe settlement will be paid in two tranches: the first being £500,000 payable by 14 December 2018 and the second tranche of £650,000 is payable by 7 March 2019.\n\nFrancesco Gardin, CEO and Executive Chairman of Clear Leisure, commented, “We are very pleased to have settled this case before the planned court hearing next year and for a sum which we believe reflects the appropriate outcome of our original investment, under the original share purchase agreement.\n\n“This is the Company’s second successful asset disposal since the new board was appointed in 2015, and we will continue to prosecute strenuously our other investments where we believe the chance of achieving a positive financial settlement is high.â€\n\n-ends-\n\nFor further information please contact:\n\nClear Leisure Plc +39 335 296573\n\nFrancesco Gardin, CEO and Executive Chairman\n\nSP Angel Corporate Finance (Nominated Adviser & Broker) +44 (0)20 3470 0470\n\nJeff Keating / John Mackay &n...