30 September 2016

Silverstone settlement approved by Court

On 1 September 2016, the Company announced that agreement in principle had been reached between all parties for resolution of the Silverstone proceedings. The agreement was to be formally documented, and was subject to approval by the Federal Court.

The Company advises that a Deed of Settlement has now been entered into, and the Court approved the settlement on 29 September 2016.

The terms of the Deed of Settlement remain confidential. Following compliance by all parties with the terms of the Deed, the proceedings will be formally discontinued.

The Company confirms its previous advice that its contribution to the settlement sum and the costs of finalising all remaining matters, are expected to be within and not materially different from the provisions made in the Company's financial statements as at 30 June 2016.

For enquiries: Craig Treasure

CEO/Managing Director Tel: (07) 5588 8888

securityholder@villaworld.com.au

Villa World Limited published this content on 30 September 2016 and is solely responsible for the information contained herein.
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