Approval for Enterprise Plan to develop five star resort on Penghu Islands

AMZ Holdings Plc, the AIM listed hotel and leisure company seeking to build Taiwan’s first world class hotel and casino resort, is pleased to announce today that the Taiwan Tourism Bureau – Ministry of Transportation and Communications – has approved the resort Enterprise Plan submitted for the proposed property. This plan, part of a complex zoning development process for the 27 acre beach fronted site, provides the Company the rights to develop a five star resort on Penghu Islands, Taiwan.

The Company continues to monitor gaming legislative developments in Taiwan, where strong indications are that authorities intend to enact legislation soon, with the Penghu Islands as the expected location. Legislative activity resumes from September, and the second and third reading of the gaming bill already in due process as an amendment to the Offshore Islands Act is expected to continue in this session.

Michael Treanor, CEO of AMZ Holdings said:

„The approval of the rights to build an international resort on our site, places the Company in a strong position as tourism activity increases on the island and the region opens up further to visitors from China. We are encouraged by the recent positive statements of intent regarding gaming legislation from the government, and the support of the Penghu authorities towards significant tourism infrastructure projects on the island such as the Company resort proposals.

We would like to thank our various locally appointed development professionals for their work in achieving this milestone for the Company and look forward to starting the next phase of our resort development process.“