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Clear Leisure shares surge after name change, strategy shift

Stock MarketsMay 06, 2021 14:00
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By Samuel Indyk

Investing.com – Shares in Clear Leisure surged over 30% on Thursday after all resolutions put to shareholders at today’s general meeting were duly passed.

The main resolutions include a change of name from Clear Leisure (LON:CLPC) to Quantum Blockchain Technologies and a shift in the company's investment strategy.

The change confirms a shift in the company’s business model to be more focused on cryptocurrencies.

Last month, the company confirmed they would be holding a general meeting to vote on the shift in the company’s investing policy.

The current policy is to acquire minority or majority interests in companies operating in the leisure, hospitality, media, and technology sectors.

The new investing policy will be on investments in the technology sector, with special focus on, but not limited to, blockchain, artificial intelligence, cryptocurrencies, and quantum computing.

93.2% of shareholders voted in favour of the shift in investment policy, with just 6.7% voting against the resolution and 0.1% abstaining or withholding their vote.

Court hearing

The resolutions come ahead of a court date later this month relating to Sipiem. At the hearing on May 26th, an independent expert will inform the Judge of the Court of Venice about the final assessment of the economic merit of the claim against Sipiem’s previous management and internal audit committee.

“Given the advanced stage of the process, the remaining legal work will require very limited involvement of the Company’s management, allowing the main focus of the Company to be its new cryptocurrencies investment strategy,” said Clear Leisure CEO Francesco Gardin in March.

At 13:55BST, shares in Clear Leisure were trading higher by 24% at 2.78 pence per share.

Clear Leisure shares surge after name change, strategy shift
 

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