Enhanced Investments - Financial Portal

Further announcement relating to the disposal of East African Hotel Operations

Published: 2022-07-01 09:40:23 ET

City Lodge Hotels Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1986/002864/06) (JSE
share code: CLH ISIN: ZAE000117792)
(“City Lodge” or the “Company”)


FURTHER ANNOUNCEMENT RELATING TO THE DISPOSAL OF EAST AFRICAN HOTEL OPERATIONS


Shareholders of City Lodge (“Shareholders”) are referred to the announcement released on SENS on 23 July
2021 (“Terms Announcement”) relating to the proposed disposal by City Lodge of its East African operations,
comprising of its hotels situated in Kenya and Tanzania (the “Disposals”).


In this regard, Shareholders are advised that all conditions precedent as set out in the Terms Announcement
have now been fulfilled and the Disposals have now become unconditional. The Disposals have accordingly
become effective on 30 June 2022 and the proceeds thereof will be received imminently.


Bryanston

1 July 2022


Sponsor to City Lodge
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.