CITY LODGE HOTELS LIMITED - Dealings in securities

Dealings in securities

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

Dealings in securities   –   exercise   of   Share   Appreciation
Rights (“SARs”)

In compliance with Rule 3.63 - 3.74 of the JSE Listings
Requirements, the following information is disclosed:

Company Secretary:              M.C. van Heerden
Name of company:                City Lodge Hotels Limited
Class of securities:            SARs   in   respect   ordinary
                                shares
Number of SARS:                 8,333 SARs to be settled by
                                the purchase of 3,837 City
                                Lodge ordinary shares
Grant Price:                    R85.66
Grant Date:                     3 September 2012
Nature of Transaction:          On    market    purchase    of
                                ordinary shares pursuant to
                                the off-market exercise of
                                SARs awarded in 2012, which
                                vested on 3 September 2015
Date of transaction:            20 November 2015
Number of shares:               3,837
Price:                          R155.00
Value of transaction:           R594,735.00
Nature and extent of
interest in the
transaction:                    Direct beneficial

Company Secretary:              M.C. van Heerden
Name of company:                City Lodge Hotels Limited
Class of securities:            Ordinary shares
Number of shares:               1,615
Nature of Transaction:          On market sale of ordinary
                                shares to settle the tax
                                obligation     that     arose
                                following   the    off-market
                                exercise   of    8,333   SARs
                                awarded in 2012 and which
                                vested on 3 September 2015
Date of transaction:            20 November 2015
Sale Price:                     R155.00
Value of transaction:          R250,325.00
Nature and extent of
interest in the
transaction:                   Direct beneficial

Prior clearance to deal has been obtained from Mr B.T.
Ngcuka, Chairman of the Board of City Lodge, in accordance
with Section 3.66 of the JSE Listings Requirements.

Bryanston
23 November 2015

Sponsor
JP Morgan Equities South Africa Proprietary Limited

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