Villa World : 27 Mar 2017 - Villa World Bonds - Completion of Successful Bookbuild

27 March 2017

Villa World Bonds - Completion of Successful Bookbuild

Villa World Limited (the "Company") announced an offer of Series A, Tranche 1 Villa World Bonds (the "Bonds") on 22 March 2017 ("Bond Offer") under a Base Prospectus and an Offer Specific Prospectus dated 22 March 2017.

The Company advises that a Bookbuild to determine institutional and broker volume under the Bond Offer was completed on 24 March 2017. Due to strong demand, the Company closed the Bookbuild earlier than scheduled.

The final Margin determined under the Bookbuild is 4.75%.

The Company's Managing Director and CEO, Mr. Craig Treasure commented on the level of support from the Bookbuild process.

"We are pleased with the levels of support shown by institutions and syndicate brokers in the Bond Offer.

The recently announced capital management initiatives will provide the Company with increased financial capacity to continue to grow inventory through value accretive acquisitions and joint venture opportunities, resulting in a 'step change' in the business, whilst maintaining prudent gearing levels."

A replacement Offer Specific Prospectus is expected to be lodged with ASIC on or around 30 March 2017, which will include the final Margin ("Replacement Offer Specific Prospectus"). Full details of the Bond Offer will be contained in the Base Prospectus and the Replacement Offer Specific Prospectus ("Offer Documents") which will be accessible online at www.villaworld.com.au/investor-centre and announced on ASX. Investors should read the Offer Documents carefully before deciding whether to apply for Bonds. Applications for Bonds under the Offer can only be made by completing the application form in, or accompanying, the Offer Documents.

For further information, please contact the Villa World Bonds Information Line on 1300 651 684 (within Australia) or +61 3 9415 4000 (outside Australia) Monday to Friday 9.00am to 5.00pm (Sydney time).

For enquiries: Craig Treasure

CEO/Managing Director Tel: (07) 5588 8888

securityholder@villaworld.com.au

This announcement has been prepared for publication in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities in the United States. The securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and other applicable U.S. state securities laws.

This announcement is not financial product or investment advice, a recommendation to acquire securities or accounting, legal or tax advice. It does not constitute an invitation or offer to apply for securities. It has been prepared without taking into account the objectives, financial or tax situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek legal and taxation advice appropriate for their jurisdiction. Villa World Limited is not licensed to provide financial product advice in respect of an investment in securities.