Clear Leisure is pursuing legal claims amounting to some €55 million (£45m) which are not included on the company's balance sheet.
Every £1m recovered represents 0.41p per share.
It said several law firms are engaged on the company's behalf in legal actions to recover shareholder funds in UK and Italy; each one selected for its specialist experience in the area specific to the individual claim.
An operational update says: "The entire focus of management remains the monetisation of all of the company's existing assets, through selected realisations, court-led recoveries of misappropriated assets and substantial debt-recovery processes."
Chairman and chief executive Francesco Gardin said: "The 12 months since my arrival on the Board has been a period of intense activity on behalf of shareholders, albeit much of it behind the scenes The focus of your new Board has been entirely on unravelling the labyrinth of complex shareholdings and cross-positions held by the company, whilst actively instigating a series of major actions, in the courts and elsewhere, to recover lost shareholder value."
At 1:08pm: (LON:CLP) Clear Leisure PLC share price was +0.85p at 1.53p