Tsogo Sun Hotels: Publication of a circular relating to the hotel sale transaction and the separation transaction and the proposed name change







Tsogo Sun Hotels Limited

Incorporated in the Republic of South Africa Registration Number 2002/006356/06 Stock Code: TGO ISIN: ZAE000272522 (“Hotels in Tsogo Sun” or the Company“)

POSTING OF THE CIRCULAR RELATING TO THE HOTEL SALE TRANSACTION AND THE SEPARATION TRANSACTION, THE NAME CHANGE PROJECT AND NOTICE OF CONVENING TO THE GENERAL MEETING

INTRODUCTION

The words and expressions defined in this press release shall, when used below, have the same meaning as that attributed to them in the Circular distributed to shareholders on Wednesday July 20, 2022.

Shareholders of Tsogo Sun Hotels (“Shareholders”) are referred to the announcement posted on the Stock Exchange News Service (“SENS”) on May 26, 2022 regarding related party transactions comprising the hotel sale transaction and the separation transaction (“the Proposed Transactions”).

In SENS’s announcement, the company also informed shareholders that Tsogo Sun Hotels had begun renaming its business operations to “Southern Sun” and would like to propose that the company name be changed from “Tsogo Sun Hotels Limited” to ” Southern Sun Limited”. (“Name change”). The JSE has, subject to shareholder approval, approved the name change with a new share code and short name “SSU” and the company will retain its history. The ISIN number and the sector (travel and leisure) in which the company is listed on the main table of the JSE will remain unchanged.

CIRCULAR DISPLAY

Shareholders are hereby advised that the Circular was distributed to Shareholders on Wednesday July 20, 2022 and contains a notice convening a general meeting of Shareholders to be held on Thursday August 18, 2022 at 10:00 a.m. (South African time) in the purpose of examining, and if it deems it appropriate, adopting with or without modification, the resolutions necessary to approve the Proposed Transactions and the Change of Name (“General Meeting”). The General Meeting will take place entirely by electronic communication via Microsoft Teams.

Copies of the circular are available on the company’s website at www.southernsun.com/investors/circulars or can be obtained from the registered office of Tsogo Sun Hotels during normal business hours on Wednesday, July 20, 2022 to Thursday August 18, 2022.

MAIN DATES AND TIMES

2022

Record date for Shareholders to be entered on the Register in order to receive the Circular

Circular incorporating the invitation to the general meeting and the form of proxy (grey), distributed to shareholders on

Notice of distribution of the Circular and of the notice convening the General Meeting distributed on SENS on

friday july 15

Wednesday July 20

Wednesday July 20

Last day to deal in Shares in order to be entered on the Register to vote at the General Meeting (see note 2 below) on

Record date for a Shareholder to be entered in the Register in order to be able to attend and participate in the General Meeting and to vote thereat, at the close of business on

Proxies (grey) relating to the General Meeting to be filed with the Transfer Secretaries, preferably before 10:00 a.m. on

General Meeting held at 10 a.m. on

Results of the General Meeting published on SENS on

Special name change resolution filed with CPIC for registration

Announcement of the completion of the name change published on

Satisfaction of the conditions precedent

Last day to trade before name change

Date of end of trading under the name “Tsogo Sun Hotels Limited” and start of trading under “Southern Sun Limited” under JSE stock code “SSU”, ISIN ZAE000272522 from the start of trading on

Registration date for name change

Issuance of new titles. Certificates posted/CSDP and brokers updated

monday august 8

friday august 12

tuesday august 16

Thursday August 18

Thursday August 18

Tuesday August 23

tuesday september 6

tuesday september 6

tuesday september 13

Wednesday September 14

Friday, September 16 Monday, September 19

Remarks:

  1. The above dates and times are subject to change at the discretion of Tsogo Sun Hotels. Any such modification will be published on SENS, to the extent required.
  2. Shareholders should note that as transactions in Shares are settled in the electronic settlement system used by Strate, settlement of transactions takes place three South African Business Days after such transaction. Consequently, Shareholders who acquire Shares after the close of business on Monday August 8, 2022 will not be able to attend, participate and vote at the General Meeting.
  3. Share certificates can no longer be dematerialized or rematerialized after the last trading day preceding the Name Change being Tuesday September 13, 2022.
  4. All dates and times listed above are South African Standard Time.

Four lanes

July 20, 2022

Sponsor

Investec Bank Limited

Jural advisor

ENSafrique

Independent Expert

Merchantec Capital

Independent reporting accountant

PricewaterhouseCoopers Inc

Disclaimer

Hotels Tsogo Sun Ltd. published this content on July 20, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Jul 20, 2022 2:13:07 PM UTC.

Public now 2022

All the news from TSOGO SUN HOTELS LIMITED

2022 sales 2,645 million

2022 net income -156M

Net debt 2022 4,203 million

PER 2022 ratio -32.0x
2022 return
Capitalization 5,202M
304M
EV / Sales 2021 7.28x
EV / Sales 2022 3.48x
# of employees 5,844
Floating 58.2%

Chart TSOGO SUN HOTELS LIMITED


Duration :

Period :




Tsogo Sun Hotels Limited Technical Analysis Chart |  MarketScreener

Technical Analysis Trends TSOGO SUN HOTELS LIMITED

Short term Middle term Long term
Tendencies Bullish Neutral Neutral



Evolution of the income statement


Source link

About Raul T. Casey

Check Also

Radisson opens eight hotels in Africa in the first half

Radisson Hotel Group said it continued its ambitious growth strategy in Africa in the first …