CITY LODGE HOTELS LIMITED - Dealings in securities

Dealings in securities

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

DEALINGS IN SECURITIES: GRANT AND ACCEPTANCE OF CONDITIONAL
AWARDS UNDER THE CITY LODGE HOTELS LIMITED CONDITIONAL SHARE
PLAN 2021 (“CSP”)

In compliance with Rule 3.63 - 3.74 (both inclusive) of the JSE
Listings Requirements, the Company hereby announces that the
executive directors and company secretary have been granted,
and have accepted, conditional share awards in terms of the CSP
in respect of the 2023 financial year as detailed below.

Vesting of the conditional shares is subject to performance and
settlement conditions and post-vesting holding periods.

The conditional awards have been awarded at the 20-day VWAP as
at 4 November 2022 of R4.06 (“deemed price”).


Award and acceptance date:      7 November 2022
Deemed price:                   R4.06
Class of shares:                Ordinary shares of no par
                                value
Vesting periods:                7 November 2025: 50%
                                7 November 2026: 25%
                                7 November 2027: 25%

Nature of Transaction:          Off market award and acceptance
                                of annual long-term incentive
                                award of conditional shares
                                issued in terms of the CSP
Extent of interest:             Direct beneficial

Director:                       A.C. Widegger
Office held:                    Chief Executive Officer
Number of awards:               1,575,466
Value of transaction:           Threshold (30%):R1,918,917.59
                                Target (65%):   R4,157,654,77
                                Stretch (100%): R6,396,391,96

Director:                       D. Nathoo
Office held:                    Chief Financial Officer
Number of awards:               597,414
Value of transaction:           Threshold (30%):R727,650.25
                                Target (65%): R1,576,575.55
                                Stretch (100%): R2,425,500.84

Director:                       L.G. Siddo
Office held:                    Chief Operating Officer
Number of awards:               611,282
Value of transaction:           Threshold (30%):R744,541.48
                                Target (65%):   R1,613,173.20
                                Stretch (100%): R2,481,804.92

Officer:                        M.C. van Heerden
Office held:                    Group Company Secretary
Number of awards:               209,379
Value of transaction:           Threshold (30%):R255,023.62
                                Target (65%):   R552,551.18
                                Stretch (100%): R850,078.74

The prerequisite clearance has been obtained in accordance with
Section 3.66 of the JSE Listings Requirements.

Bryanston
11 November 2022

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

Date: 11-11-2022 05:40:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.