Villa World : 12 Jan 2018 - Appendix 3Y

12 January 2018

Appendix 3Y - Late lodgement of change in director's interests

Villa World Limited (ASX: VLW) (Company) refers to the Appendix 3Y for Mr. Craig Treasure (CEO & Managing Director) which accompanies this letter, and advises as follows:

1. The Appendix 3Y relates to a change in Mr. Treasure's director interests which occurred on 30 November 2017, following the granting of performance rights under the Company's Long Term Incentive Plan Shares as approved by shareholders at the

• AGM held on 24 October 2017.

• 2. The Appendix 3Y, which was due to have been lodged by 7 December 2017, has been lodged late due to an internal administrative oversight on the part of the Company regarding the date on which the grant of the performance rights was finalised. It was not due to any oversight on the part of Mr Treasure to notify the Company of the relevant change in his securities holdings, and the change did not involve any on-market transaction by Mr Treasure.

• 3. Once identified by the Company, the Appendix 3Y was promptly lodged.

• 4. The Company is satisfied that it has the necessary reporting and notification policies in place to ensure compliance with its disclosure obligations under ASX Listing Rule 3.19A. Directors are aware of their obligations to notify the Company of any changes in securities holdings, and this is monitored as a standard agenda item at every Board meeting. The Company considers the late lodgement of the Appendix 3Y to be an isolated incident.

• 5. The Company is satisfied that its procedures are adequate to ensure compliance with ASX Listing Rule 3.19B.

Yours sincerely

Bradley Scale Company Secretary

QUEENSLAND:	NSW:	VICTORIA:	Villa World Limited
Level 1, Oracle West	Level 3, 201 Miller Street	99 Coventry Street	ABN: 38 117 546 326
19 Elizabeth Avenue	North Sydney NSW 2060	Southbank VIC 3006	ASX Code: VLW
Broadbeach QLD 4218	P: 02 8923 1900	P: 03 9693 7800	www.villaworld.com.au
P: 07 5588 8888 F: 07 5588 8800

Appendix 3Y

Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001 Amended 01/01/11

Villa World Limited 117 546 326

Name of entity

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Craig Granville Treasure
Date of last notice	23/8/2016

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	NA
Date of change	30/11/2017
No. of securities held prior to change	Indirect - Direct -582,432 ordinary shares 752,432 ordinary shares 316,902 Performance Rights (FY16 Allocation) 387,528 Performance Rights (FY17 Allocation)
Class	Performance Rights issued (FY18 Allocation) under the Villa World Limited Executive Long Term Incentive Plan. (LTIP), with an entitlement to one fully paid ordinary share per Performance Right subject to satisfaction of performance conditions for the period ending 30.06.2020
Number acquired	Indirect DirectNil 383,699 Performance Rights
Number disposed	Nil

+ See chapter 19 for defined terms.

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Appendix 3Y

Change of Director's Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Indirect DirectNA Nil
No. of securities held after change	Indirect - 582,432 ordinary sharesDirect -752,432 ordinary shares 316,902 Performance Rights (FY16 Allocation) 387,528 Performance Rights (FY17 Allocation) 383,699 Performance Rights (FY18 Allocation)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Direct -Grant of Performance Rights (FY18 Allocation) under the LTIP, approved by shareholders at the 2017 AGM

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 - +Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

+ See chapter 19 for defined terms.

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