10 Sep - 2 min read

Change in function of directors

Change in function of directors

City Lodge Hotels Limited
“City Lodge” or the “Company”
(Reg. No. 1986/002864/06)
(Incorporated in the Republic of South Africa)
Share Code: CLH    ISIN Code: ZAE000117792

CHANGE IN FUNCTION OF DIRECTORS

In   compliance  with   Sections  3.59   of    the   JSE   Listings
Requirements, shareholders are advised that:

1.   following the unwind of the BEE transaction and indirect
     repurchase by the Company of 99.99% of the shares in Vuwa
     Hotels Pty Ltd (“Vuwa”), the board has reviewed the
     classification of the non-executive Chairman, Mr Bulelani
     Ngcuka, who now indirectly holds 0.01% of the shares in
     Vuwa, and has determined that he can be regarded as
     independent with immediate effect; and

2.   as a result of the reclassification of Mr Ngcuka as
     independent, there is no longer a requirement for the role
     of a lead independent director. The board is however
     pleased to announce that Mr Frank Kilbourn, who has served
     as lead independent director since 2014, will assume the
     role of Deputy Chairman with effect from 9 September 2021.


10 September 2021
Bryanston

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank
Limited

Date: 10-09-2021 04:50:00
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