City Lodge Hotels: New announcement relating to the sale of East African Hotel Operations

City Lodge Hotels Limited

(Incorporated in the Republic of South Africa) (Registration Number: 1986/002864/06) (JSE Stock Code: CLH ISIN: ZAE000117792)

(“town lodge“or the”Company“)

NEW ANNOUNCEMENT RELATING TO THE DISPOSAL OF HOTEL OPERATIONS IN EAST AFRICA

City Lodge shareholders (“Shareholders“) are referred to the advertisement broadcast on SENS on July 23, 2021 (“Announcement of conditions“) regarding the proposed sale by City Lodge of its business in East Africa, including its hotels located in Kenya and Tanzania (the “Disposals“).

In this respect, the Shareholders are informed that all the conditions precedent as set out in the Announcement of Terms have now been fulfilled and that the Transfers are now unconditional. The disposals therefore became effective on June 30, 2022 and the proceeds thereof will be received imminently.

Bryanston

July 1, 2022

Sponsor of City Lodge

Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Disclaimer

City Lodge Hotels Limited published this content on July 01, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Jul 01, 2022 07:02:06 UTC.

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