Clear Leisure confirms more details around share purchase breach claim

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Clear Leisure updated the market on its legal claim over a breach of a share purchase agreement on Friday, following its announcement on 2 May that it had issued a claim in the High Court in London, arising from a breach of a share purchase agreement.

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The AIM-traded firm said the claimant in the action was its wholly-owned subsidiary Brainspark Associates.

“The company can now confirm that this claim arises out of Brainspark's investment in Fortune Cookie and the defendants to the action are Fortune Cookie and Mr Justin Cooke,” the board said in its statement.

“Mr Cooke, an English entrepreneur, founded Fortune Cookie in 1997 and he sold it to the WPP Group in 2012.

“The value of the claim is between £0.7m and £5m.”