RIVER - Analysis 1

RiVER

Fund

‘Valkarie’
SPV

1 Investment into the Fund fully managed by SR with support from Robin Stevens

2 River controls and distributes funds as required

3 Project size and type negates any serious project led SR input

4 Question: How did SR earn from the project?

5 Outcome: No room for 3 within this type of deal. Move on to much bigger things

RIVER - Analysis 2

RiVER

River is the commercially credible TopCo entity that enters discussions with investors/partners and is currently 100% owned by SR.

SR/River provides the following services to SPV1. SR joins SPV1 Executive.

1 Investment & ongoing Advisory, banking etc;
2 Company structuring and strategy
3 Branding & PR
4 Interior design & creative themes
5 Business Development - next project
6 Project oversight - delivery to Investors

‘Hotel’
SPV 1

Team
Sean Rafter
David Diack
Matt Ward
+
*Steve Thorne

‘Country House’
SPV 2

Potentially a different Team, Structure & Group of investors

‘New HMO’
SPV 3

Potentially a different Team, Structure & Group of investors

‘Golf Club’
SPV 4

Potentially a different Team, Structure & Group of investors

Note:
SPV1 is an entity structured for this specific transaction only.
Other potential Hotel projects via additional SPVs might structured differently and accommodate other investors/partners
SPV1 reports to River as the overarching TopCo. River then liaises with Investors/Partners.


RIVER - Analysis 3

RiVER

River is the commercially credible TopCo entity that enters discussions with investors/partners and is currently 100% owned by SR.

SR/River provides the following services to SPV1. SR joins SPV1 Executive.

1 Investment & ongoing Advisory, banking etc;
2 Company structuring and strategy
3 Branding & PR
4 Interior design & creative themes
5 Business Development - next project
6 Project oversight - delivery to Investors

‘Hotel’
SPV 1

Team
David Diack
Matt Ward
Steve Thorne
+
*Sean Rafter

‘Country House’
SPV 2

Potentially a different Team, Structure & Group of investors

‘New HMO’
SPV 3

Potentially a different Team, Structure & Group of investors

‘Golf Club’
SPV 4

Potentially a different Team, Structure & Group of investors

Note:
SPV1 is an entity structured for this specific transaction only.
Other potential Hotel projects via additional SPVs might structured differently and accommodate other investors/partners
SPV1 reports to River as the overarching TopCo. River then liaises with Investors/Partners.