PRESS RELEASES

Asian regional gaming operator Silver Heritage Group Limited launches AUD$25 million IPO

TAGs: Australia, Press Releases, Silver Heritage

Opportunity for Australian investors to capitalise on untapped Indian gaming demand

Highlights:

Asian regional gaming operator Silver Heritage Group Limited launches AUD$25 million IPO– Silver Heritage Group launches IPO Prospectus to raise AUD$25 million, ahead of proposed ASX listing,

– Company operates and manages casinos in Nepal and Vietnam and manages electronic gaming operations in casinos in Laos and Cambodia,

– Funds will primarily be used for development of Tiger Palace Resort, the first integrated resort built for Indian casino players located in Nepal close to the Indian border,

– The indicative market capitalisation of the company post-listing is approximately AUD$80 million, and

– Highly experienced board and management assembled, boasting considerable gaming experience.

Australian investors will have the opportunity to gain exposure to the fast-growing regional Asian gaming market, with Silver Heritage Group Limited (SHG) seeking to raise AUD$25 million in an initial public offering (IPO), as it targets listing on the ASX in August 2016.

Under the Prospectus, SHG is offering 62,500,000 ordinary shares in the Company at an offer price of AUD$0.40 per share. The indicative market capitalisation of the company post-listing is approximately AUD$80 million.

The funds raised through the offer will be used for the expansion of the Group’s projects, including the development of Tiger Palace Resort, the first integrated resort built for Indian casino players located in Nepal close to the Indian border.

With only six licensed live table casinos in India and only three licensed casinos operating in Nepal, all of which are located in Kathmandu, Silver Heritage Group will have a significant market advantage through its flagship Tiger Palace Resort. The new resort will be a welcome alternative entertainment and leisure destination for an expanding demographic of Indian tourists. Over 430 million Indians live within a day’s drive of the Nepal border.

Founded in 2003, Silver Heritage Group has grown rapidly from the supply and management of slot machines across Asia to an experienced regional gaming management operation, with interests in casinos and gaming venues in Nepal, Vietnam, Laos and Cambodia.

The company’s core growth strategy going forward is to focus on developing casino resorts on the India-Nepal border where there is strong demand from the emerging Indian middle class residents in the Indian states bordering Nepal who currently have restricted access to gaming facilities.

Nepal’s Ministry for Labor and Employment welcomes the investment from Silver Heritage.

Hon. Deepak Bohara, Minister Labor and Employment, said: “Nepal is open for foreign investment in tourism and there is a huge opportunity here to access large untapped Indian demand for leisure and entertainment.

Our geographical proximity to India and its growing middle class make it an attractive investment opportunity. We welcome Silver Heritage Group’s investment in Tiger Palace Resort as it will create new jobs and generate significant revenue for our country.”

Commenting on the company’s key strengths Silver Heritage Group’s CEO Mike Bolsover said: “We’ve been in Asia for over 12 years and in Nepal since 2012. We are a group that develops projects over time and only where we see significant competitive advantage. We focus on mid-size opportunities and improving operating performance to best practice standards. This strategy has allowed us to build significant expertise and local knowledge while growing profitability and generating attractive returns on capital.

We successfully applied for a license to operate The Millionaire’s Club & Casino in Kathmandu in early 2015, and in early 2017 will launch our beautiful new facility, Tiger Palace Resort.

We understand the regulatory frameworks of the markets in which we operate, and our approach to best practice compliance is to go beyond industry standards.”

With that philosophy in mind, Mr Bolsover said the company had been encouraged to list on the Australian Securities Exchange as a result of the market’s depth of understanding for gaming stocks such as Crown, The Star Entertainment Group and Tabcorp, along with its reputation as one of Asia’s leading capital markets.

SHG has assembled a highly credentialed board, boasting considerable gaming experience, which consists of:

David Green, Independent Non-Executive Chairman

• Mike Bolsover, Managing Director and Chief Executive Officer

• Hugh Holmes, Executive Director – Special Projects

• Michael Anderson, Independent Non-Executive Director

• Richard Barker, Independent Non-Executive Director

For more information, please contact:

Tim Shepherd

President – Business Development

Silver Heritage Group Ltd

T +852 6474 0565

E tim.shepherd@silverheritage.com.au

David Tasker

National Director, Investor Relations

Professional Public Relations

T: +61 8 9388 0944/ +61 433 112 936

E: david.tasker@ppr.com.au

About Silver Heritage Group

Silver Heritage Group is an experienced regional gaming operator that is transforming the world’s largest gaming market – Asia.

Operating across Asia for more than a decade, Silver Heritage Group brings best-in-class gaming operations to emerging gaming markets that are witnessing significant growth in gaming due to rising income levels, liberalisation of gaming regulations and the rapid growth of outbound tourism.

Over the past decade of operation, Silver Heritage Group’s internationally-respected gaming team has served this increasing demand for gaming across the region and implemented global best practice compliance in its gaming operations.

Headquartered in Hong Kong, Silver Heritage Group now owns and operates casinos and manages gaming assets in four countries in Asia and employs more than 575 people across its operations in five countries.

Website: www.silverheritage.com

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