The Company wishes to announce that its hotel resort and development property, One&Only Hayman Island on the Great Barrier Reef in Australia has incurred significant damage on 28 March 2017 as a result of wind and water damage from Cyclone Debbie. We are pleased to confirm that all guests and staff on the island are safe with no injuries sustained.  All guests have been evacuated from the island by private charter.  The full extent of the damage will be assessed in the coming weeks once an expert project team has arrived on the island and inspected the property. The resort will be closed while reinstatement works are undertaken with the final timing of its re-opening to be confirmed once the extent of damage and rectification are clearly known. The property is covered under a property insurance policy subject to a deductible of up to A$10 million as well as business interruption cover to protect the impact on trading results for a period of up to 24 months.

This announcement is dated 31 March 2017.