12 February 2021

Belvedere Leisure Resorts plc

("Belvedere" or the "Company")

Board Changes

Belvedere, the luxury holiday resort developer, announces certain changes to the Company's Board of Directors.

The Company is pleased to announce that Keith Aldridge has been appointed as a new Non-executive Director of the Company from 15 February 2021.  Keith has founded, built and managed significant property businesses, including those involved with development and rentals.  He joins the board following his departure from a company he co-founded with M&G Investments.  Previously Keith co-founded the former UK bridging and commercial lender, Amicus Finance plc (originally established as Capital Bridging 12 years ago) which went on to originate £600 million per annum in new business completions.  Following this Keith successfully set up Atelier Capital Partners, a company focussed on providing short-term lending solutions to professional property investors.  In particular, he will bring his skills in debt structuring and working in the leisure development sector to the Company as it progresses its plans.

Christopher Eddlestone has notified the Company of his decision to retire as a Non-executive Director of the Company and he will leave the Company on 15 February 2021.

Following these changes the Board of the Company will comprise Alan McNamara (Executive Director), Paul Brazewell (Executive Director), Ken Hillen (Non-executive Director) and Keith Aldridge (Non-executive Director).

The Company anticipates updating the market in the coming weeks on the Company's proposed acquisition of Barnsoul Park, as previously announced, and the due diligence process the Company is undertaking, together with an update on the progress in securing further bond subscriptions.

Commenting, Paul Brazewell, Executive Director of Belvedere, said: "We are delighted that Keith will be joining the Company's Board and on behalf of the Company, I would like to thank Christopher for his contribution and wish him well for the future.

"It is a real sign of our strength and the opportunities we have that we can attract someone of the calibre of Keith to the Company.  We expect him to add significant value, particularly with his extensive experience in successfully originating debt structures, as we look to complete the acquisitions under negotiation and continue the momentum we have successfully built recently with our fundraising efforts.  We expect 2021 to be a transformational year for Belvedere and I look forward to reporting on our further progress in the coming weeks."

Further information on Keith Aldridge

The following information is required to be disclosed under Rule 4.9 of the Access Rulebook in relation to Keith Aldridge.

Details of all directorships held by Mr Aldridge in any other company at any time in the previous five years are set out in the below table:

Mr Aldridge has:

(1) no unspent convictions in relation to indictable offences;

(2) not been involved in any receiverships, compulsory liquidations, creditors voluntary liquidations, administrations, company voluntary arrangements or any composition or arrangement with its creditors generally or any class of its creditors of any company where he was a director at the time of, or within the 12 months preceding, such events;

(3) not been involved in any compulsory liquidations, administrations or partnership voluntary arrangements of any partnerships where he was a partner at the time of, or within the 12 months preceding, such events;

(4) not been involved in any receiverships of any asset of such person or of a partnership of which he was a partner at the time of, or within the 12 months preceding, such event;

(5) not been subject of any public criticisms by statutory or regulatory authorities (including designated professional bodies); and

(6) never been disqualified by a court from acting as a director of a company or from acting in the management or conduct of the affairs of any company.

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 6630

Email: belvedere@investor-focus.co.uk