Mediapolis Update - Confirmation of deposit of ...

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[{"type":"text","content":"\n \n \n Mediapolis Update - Confirmation of deposit of acts\n \n \n\n \n Clear Leisure plc\n \n \n\n \n \n \n 13 January 2014\n \n \n \n \n (“Clear Leisure” or “the Company”)\n \n \n Mediapolis Update - Confirmation of deposit of acts\n \n \n Further to the announcements of 22 November 2013 and 7 January 2014, the \n Board of Clear Leisure announces that Mediapolis S.p.A. (Mediapolis) has \n submitted on 10 January 2014 to the Ivrea Tribunal, a formal proposal \n for the restructuring of the Mediapolis debt, the “Concordato in \n Continuità”.\n \n \n All the formal documents of the procedure and a new video of the \n project, can be found on the Company’s website (http://www.clearleisure.com/mediapolis-s-p-a/) \n and this will be available from Tuesday, 14 January 2014.\n \n \n The key facts in relation to the proposal are as follows:\n \n \n Mediapolis:\n \n \n \n Certified value of the Albiano d’Ivrea, Mediapolis Land (the project):\n \n \n \n EUR 35,600,000\n \n \n \n Certified value of the Liscia di Vacca properties (owned by \n Mediapolis):\n \n \n \n EUR 2,418,000\n \n \n \n Certified value of other company assets owned by Mediapolis:\n \n \n \n EUR 1,800,929\n \n \n \n Total value of the Mediapolis assets EUR 39,818,929\n \n \n \n Total Mediapolis liabilities:\n \n \n \n Total amount of secured debt proposed to be paid at 100% :\n \n \n \n EUR 14,004,742\n \n \n \n Total amount of unsecured debt proposed to be paid at 32.69%:\n \n \n \n EUR 2,214,187\n \n \n \n Total value of the Mediapolis liabilities to be paid, following \n approval by the tribunal will be approximately EUR 16,218,929\n \n \n \n Liabilities attributable to the different assets:\n \n \n \n EUR 10,264,229 are related to the land of Albiano d’Ivrea (the project)\n \n \n EUR 5,954,700 are related to other assets\n \n \n \n Mediapolis NAV:\n \n \n Based on the values presented in the plan, on approval, the Net Asset \n Value of Mediapolis has been established as EUR 23,600,000, of which:\n \n \n \n EUR 25,335,771 is related to the Albiano d’Ivrea Land\n \n \n EUR (1,735,771) (negative value) is related to Liscia di Vacca \n properties and other assets\n \n \n \n Total funds required in supporting the debt free \n project:\n \n \n The proposal requires the company to cover all its creditors and \n payables based on the plan, to ach...

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