PRESS RELEASES

Silver Heritage Group to commence trading Monday following successful IPO and AUD$25 million equity raise to fund growth

TAGs: Deepak Bohara, IPO, Press Releases, Silver Heritage

Highlights:

–     Silver Heritage Group to list on ASX on Monday 29 August following successful IPO and AUD$25 million equity capital raise.

–    European, Asian and Australian investors provide supportive endorsement for company’s growth strategy as one of the region’s leading independent and highly experienced regional casino developer and manager.

–    Funds will primarily be used for development and completion of Tiger Palace Resort Bhairahawa, the first integrated resort built for Indian casino players located in Nepal close to the Indian border, scheduled for 1Q17 opening.

–   Company operates and manages casinos in Nepal and Vietnam. Strong track record    of, positive cash flow and high returns.

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

–    Highly experienced board and management teams, boasting considerable gaming and regulatory and hotels experience.

Silver Hertiage Group to commence trading Monday following successful IPO and AUD$25 million equity raise to fund growthAsian focused gaming company, Silver Heritage Group Limited (ASX:SVH), will list on the ASX on 29 August 2016 following the successful completion of its AUD$25 million IPO.

Under the Prospectus, SVH offered 62,500,000 ordinary shares in the Company at an offer price of AUD$0.40 per share. On listing, 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 Bhairahawa, the first integrated resort built for Indian casino players located in Nepal close to the Indian border.

With only six licensed live table casinos currently in operation in India, and only five licensed casinos operating in Nepal – all of which are located in the capital Kathmandu, Silver Heritage Group will have a significant market advantage through its flagship Tiger Palace Resort. The new hotel casino 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 and entry to and exit from Nepal is visa-free for Indian nationals.

Founded in 2003, Silver Heritage Group has grown rapidly into an experienced regional gaming management operation, with interests in casinos and gaming venues in Nepal, Vietnam, Laos and Cambodia, and with past experience in Macau and The Philippines too.

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 managing and operating casino in Asia for over 12 years and have been 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.

Silver Heritage 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

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