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Clear Leisure

  • BY: Andrew Hore |
  • POSTED: 27/02/2014 |

Clear Leisure says that positive legal news about the ownership of Mediapolis means that it should be able to pay a special dividend.

Assuming that the legal decision is positive and the company’s stake in Mediapolis is sold, a special dividend of £4m, or 2p a share, should be affordable. The share price rose 0.15p to 2.1p, which values Clear Leisure at £4.19m. That suggests that there is still caution about the outcome.

The court has asked for further information to be submitted before 21 March.

Clear Leisure is reconsidering its proposed AIM Italia quotation. A new chief executive should be appointed later this year.

Cairn has replaced Westhouse as nominated adviser.

Earlier this month, 73.43%-owned hotels operator ORH has been placed into voluntary liquidation because of undisclosed debts. Clear Leisure will be hit by £200,000 of costs.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFFebruary2014_53.pdf

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