TIDMBL03

RNS Number : 3877A

Belvedere Leisure Resorts PLC

02 February 2022

2 February 2022

Belvedere Leisure Resorts plc

("Belvedere" or the "Company")

Corporate Update and Update re Publication of Accounts

Belvedere, the luxury holiday resort developer, provides an update on recent developments and regarding publication of the Company's accounts for the year ended 30 June 2021 (the "Accounts").

Corporate Update

The Company has made a buoyant start to the new year with on-site development works at its Landal Barnsoul holiday park progressing as planned. The construction team continues to make great progress and have now taken delivery of, and installed on site, five Torp family lodges, with a further five units on site, in line with the development programme for the site. There are a further 11 units currently in production with manufacturers and the professional team are making good progress with this and the Company's other schemes.

Earlier this month, Landal GreenParks issued their first press release covering the Landal Barnsoul resort and are working closely with the Company's design team to collate more images of the lodges and their interiors so they can publicise these in future releases as they continue to take in further holiday bookings ahead of the parks opening, scheduled for Spring 2022.

Publication of Accounts

As announced on 31 December 2021, although the results for the year ended 30 June 2021 have been produced by the Company, the audit has not yet been concluded due to the impact of Covid-19 on the availability of the Company's professional advisers. The Company previously expected the audit to be completed to enable the Accounts to be published by the end of January 2022. However, the auditors have experienced continued staffing issues due to Covid-19 and the audit is not yet complete. Therefore trading in the Company's bonds on the AQSE Growth Market remain suspended.

The Company would like to stress that the suspension in trading of the bonds does not affect the Company's physical trading nor the on-site progress at its Landal Barnsoul holiday park development, which, as outlined above, is continuing as planned.

The directors of Belvedere Leisure Resorts plc accept responsibility for this announcement.

For further information, please contact:

Belvedere Leisure Resorts plc

Paul Brazewell, Executive Director

Tel: +44 (0) 203 773 1361

Email: invest@belvedereleisureresortsplc.com

Alfred Henry Corporate Finance Limited

AQSE Corporate Advisor

Jon Isaacs

www.alfredhenry.com

Tel: +44 (0) 203 772 0021

IFC Advisory Limited

Financial PR & IR

Tim Metcalfe

Tel: +44 (0) 203 934 6632

Email: belvedere@investor-focus.co.uk

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February 02, 2022 02:00 ET (07:00 GMT)

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