17th Aug 2020 11:56
(Alliance News) - Clear Leisure PLC on Monday announced a new investment initiative as well as received the first tranche for the Mediapolis settlement.
The investment company focused on the leisure, real estate and digital sectors said it is in the early stages of launching a new investment initiative focused on high growth technology companies.
The company has approached Capital Partners LLP to act as the investment manager to establish and manage a fund aimed at professional and qualifying retail investors.
The proposed GBP10 million fund will seek to invest in start-ups which focus on the integration of biological and digital systems, mainly in the UK.
Clear Leisure has received EUR1.5 million from the first tranche of the approved Mediapolis SA settlement. The settlement relates to proceeds from an auction of land formerly owned by Italian subsidiary Mediapolis.
Meanwhile, Geosim Systems Ltd, an 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 company also announced that the second court hearing against former Sipiem SpA directors has been postponed to September 30 due to delays caused by Covid-19.
This legal action originated when Sipiem's liquidator filed a claim against Sipiem's previous executive management team and internal audit committee for fraud and mismanagement on March 21, 2019.
Clear Leisure shares were down 4.8% at 0.30 pence each on Monday morning in London.
By Greg Roxburgh; [email protected]
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