Peregian Springs Golf Holdings Limited (Holdings) is pleased to announce that Golf Services Management Pty Ltd (GSM) has been granted a lease to operate the Peregian golf course and clubhouse for 5 years with a further 5 year option.

GSM is a highly experienced golf course management company operating five golf courses in Victoria – Bay Views, Kingston Links, Ranfurlie, St Andrews Beach and Morack Golf Course and Driving range. All of these courses have seasonal and yearly passes available and have affiliated golf clubs.

This announcement follows an urgent but thorough process undertaken by the Board of Holdings to identify an experienced golf course operator and manager that has the necessary experience and resources to run and maintain Peregian golf course as a sustainable high quality golf course.

It is anticipated that GSM will reopen the course for play mid December 2016.

GSM Company Director Ian Denny stated that “he is excited by the prospect of re-establishing this wonderful golf course and facility. GSM has been through a similar experience at St Andrews Beach where it reopened after a period of closure in 2009 and the course has been profitable and highly ranked ever since. The maintenance team from Solid Ground have done a fantastic job in keeping the course up to a standard that will see plenty of smiling golfers hitting the fairways again very shortly.”

Holdings Chairman Geoff Grady said: “We are very pleased to have secured GSM as the new manager and operator of Peregian Springs golf course. GSM is a first-class operator who we are confident will return Peregian Springs golf course and club house operations to the high standard that they demand.”

“Access to and maintenance of a high quality golf course and clubhouse is vital to the amenity that residents of Peregian Springs community enjoy and value. We appreciate that the period of administration and financial difficulties that the Peregian Springs Golf Club has been through has been very upsetting to the former members of the Peregian Springs Golf Club and the broader Peregian Springs and Sunshine Coast community. We thank everyone for their patience as we

sought to establish a sustainable way forward. We are confident that residents and general public will again enjoy everything that this wonderful golf course has to offer under the new management of GSM.”

Details of a range of golfing options will be released by GSM as further information comes to hand with the website www.peregiangolf.com.au currently under construction and information sessions planned prior to opening.