ANNOUNCEMENT OF APPLICATION FOR ADMISSION TO THE NEX EXCHANGE GROWTH MARKET

APPLICANT NAME:

Belvedere Leisure Resorts Plc

APPLICANT REGISTERED OFFICE, PRINCIPLE PLACE OF BUSINESS (IF DIFFERENT) AND TELEPHONE NUMBER:

Registered office:

Salisbury House

London Wall

London EC2M 5PS

Tel: +44 (0) 203 773 1361

Principal place of Business (once commenced trading):

53 King Street

Manchester

M2 4LQ

DIRECTORS AND PROPOSED DIRECTORS (IF APPLICABLE):

Alan McNamara, Executive Director (aged 44)

Alan is the Chairman of the Group and has extensive experience in financial services and property development. Starting out at HSBC, Alan digressed into credit brokering with his own company before entering into privately funding UK SME developers. Having evolved with his experience providing consultancy services to his private clients, he then progressed into developments on a range of Private Rented Sector and student schemes across the UK on a JV basis. It was from learning of Alan's experience with leading three projects in three sectors (hotel, student and residential), that Alan was introduced to this exciting opportunity three years ago and has since worked on driving the project and bringing in Awaze and the concept of bringing Landal GreenParks into UK resort management on a long term basis.

Paul Brazewell, MRICS, Executive Director (aged 48)

Paul is a member of the Royal Institution of Chartered Surveyors with almost three decades of experience in cost consultancy & project management at director level in both the public & private sectors, specialising in commercial & residential projects covering nationwide schemes in excess of £60m. From a Quantity Surveyors/Project Management perspective, Paul has been extensively involved with the the Landal Belvedere Site over the past 2 years working closely with the design team & Landal GreenParks to help mould this exciting resort to the shape it is today.

Christopher Eddlestone, Independent Non-Executive Director (aged 69)

Formerly a corporate partner at Squire Patton Boggs ("SPB"), a full-service global law firm, Chris is the co-founder of the Annual Hotels Conference, with over 30 years of experience in the legal and operational aspects of leisure businesses. He was a partner at two leading regional law firms, progressing into international corporate law and was the Global head of the hospitality and leisure services team at SPB, which had 18 partners in the group. Chris now has interests in a growing UK hotel chain (operating under the global IHG brand) and is delighted to be working again with Europe's leading European vacation rentals group.

Ken Hillen, Independent Non-Executive Director (aged 63)

Following a degree in economics from The University of Edinburgh, Ken began his career in 1977 with the Royal Bank of Scotland. He went on to hold a number of senior banking roles including senior corporate director at RBS, managing director for Scotland and Northern Ireland at Anglo Irish Bank and, until 2009, head of commercial and corporate banking for Scotland at the Bank of Ireland.

Ken is currently a non-executive director and Chairman of SQN Secured Income Fund plc, an investment company listed on the Main Market of the LSE and of Salutem Healthcare Limited, a private equity backed provider of specialist healthcare, to name but two of his appointments.

APPLICANT SECTOR:

Leisure

DESCRIPTION OF THE APPLICANT AND ITS ACTIVITIES:

Belvedere Leisure Resorts plc is a recently-formed, wholly-owned subsidiary of Belvedere Leisure Park Limited ("BLP Ltd"). BLP Ltd is a holding company, established in 2015, that owns Barncrosh Farm, Bridge of Dee, Castle Douglas, Dumfries & Galloway, Scotland, DG7 1TX, and full planning permission (171800/FUL) is in place to install a lodge park resort comprising of 444 luxury holiday lodges with four-star central facilities and all other required facilities set amongst 109 acres just 15 minutes from the coast of South West Scotland, in one of the UKs most unspoilt areas of natural beauty. This is the first purpose built Landal GreenParks UK Limited ("LGP" or "Landal GreenParks") resort in the UK and will be a flagship resort for Awaze Limited ("AZ"), who is the parent Company of Landal GreenParks. AZ is Europe's leading managed vacation rentals group with over 110,000 accommodation choices in 36 countries handling over 8 million holidaymakers each year.

Belvedere Leisure Resorts plc is pleased to announce that it has established a programme (the "Bond Programme") to offer 6.25% secured bonds of £1 nominal value each (the "Bonds"). The Bond will attract interest at a rate of 6.25 per cent, payable bi-annually in arrears, commencing 12 months from the issue of the First Tranche.

In connection with the Bond Programme, which is not anticipated to exceed an aggregate principal amount of £25 million, Belvedere Leisure Resorts plc has applied for admission to trading of 10,007,000 Bonds, representing the first tranche of Bonds, on the NEX Exchange Growth Market ("NEX"), with effect from 8.00am on 22 November 2019 ("Admission").

NAME OF NEX EXCHANGE CORPORATE ADVISER:

Alfred Henry Corporate Finance Limited

NUMBER, CLASS AND PAR VALUE OF SECURITIES TO BE ADMITTED:

Belvedere Leisure Resorts plc has applied for admission to trading of 10,007,000 Bonds of £1 nominal value each representing the first tranche of Bonds, on the NEX Exchange Growth Market, with effect from 8.00am on 22 November 2019.

SECURITIES IN PUBLIC HANDS AS A PERCENTAGE OF THE TOTAL NUMBER OF SECURITIES IN ISSUE (excluding securities held in treasury):

Not applicable

SHAREHOLDERS HOLDING MORE THAN FIVE PER CENT OF THE APPLICANT'S SHARE CAPITAL OR VOTING RIGHTS PRE- AND POST-ADMISSION:

Belvedere Leisure Resorts plc is a wholly owned subsidiary of BLP Ltd. The whole of BLP Ltd issued share capital is beneficially owned by Robert Ure.

TIMETABLE FOR ANY OFFER OF TRANSFERRABLE SECURITIES TO THE PUBLIC:

Belvedere Leisure Resorts plc expects to apply to list additional tranches of Bonds in a continuous or repeated manner, in accordance with its Base Admission Document expected to be dated on or around 7th November 2019.

THE EXPECTED ADMISSION DATE:

22 November 2019

WEBSITE ADDRESS WHERE INVESTOR INFORMATION WILL BE AVAILABLE FOR INSPECTION:

www.belvedereleisureresortsplc.com