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Clear Leisure PLC (LON:CLP) has issued an update on its €10.8mln Sipiem SpA in Liquidazione legal claim against the previous management and audit committee.
The AIM-listed group said the independent expert appointed by the court has formally accepted the appointment under oath at a hearing held on October 21 and will begin his assessment work on November 5.
READ: Clear Leisure shares back trading as accounts are published
Sipiem, the claimant, has appointed its own expert while the defendants have appointed two separate experts. The judge has set the hearing for consideration of the expert reports for March 10, 2021.
Clear Leisure said it remains confident on the strong foundations of the claim.
“We are very pleased with the tight timeline, set by the Venice judge, for the Sipiem claim. The March 2021 hearing is expected to be extremely informative as the amount of claimed damages will be formally submitted by the independent expert in his report to the judge”, Clear Leisure executive chairman and chief executive Francesco Gardin said in a statement.
The update sent the company’s shares soaring 32.6% to 0.3p in early trading on Tuesday.
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