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Directors’ Dealings In Securities
Tsogo Sun Hotels Limited
(previously known as Southern Sun Hotels Proprietary Limited)
Incorporated in the Republic of South Africa
Registration number 2002/006356/06
Share Code: TGO ISIN:ZAE000272522
(“Tsogo Sun Hotels” or the “Company” or the “Group”)
DIRECTORS’ DEALINGS IN SECURITIES
CONVERSION OF NOTIONAL SHARES HELD UNDER THE TSOGO SUN GROUP SHARE APPRECIATION BONUS PLAN AS A RESULT OF
THE LISTING OF TSOGO SUN HOTELS LIMITED
As disclosed in the Pre-Listing Statement issued by the Company on 23 May 2019, Tsogo Sun Hotels has adopted an equity-settled
share incentive scheme, namely the Tsogo Sun Hotels Share Appreciation Rights Plan (“Tsogo Sun Hotels SAR Plan”), in which selected
key senior employees of the Group are eligible to participate with the goal to incentivise, motivate and retain these high calibre
employees and recognise their contributions to the Group.
As a consequence of the listing of the Group on 12 June 2019, employees of Tsogo Sun Hotels who participated in the Tsogo Sun Group
Share Appreciation Bonus Plan (“Tsogo Sun LTIP”) have been given the option to: a) accelerate the vesting of all their notional shares
(both vested and unvested) held under the Tsogo Sun LTIP and receive settlement in cash or b) to elect to convert their notional shares
held under the Tsogo Sun LTIP to share appreciation rights (“SARs”) administered in terms of the Tsogo Sun Hotels SAR Plan
(“Replacement Awards”).
The conversion calculation provides for participants to receive SARs under the Tsogo Sun Hotels SAR Plan that equate to the same fair
value of the notional shares (both vested and unvested) previously held under the Tsogo Sun LTIP on the conversion date, being 12
June 2019. The conversion will ensure that employees of the Company are incentivised based on the performance of the Company’s
share price moving forward, and also serve to align their interests more closely with those of shareholders.
In compliance with Paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed in relation
to the granting and acceptance of Replacement Awards by directors and company secretaries of the Company and its major
subsidiaries, being Hospitality Property Fund Limited and Southern Sun Hotel Interests Pty Ltd.
Director Marcel von Aulock
Designation Chief Executive Officer
Company Tsogo Sun Hotels Limited
Nature of transaction Grant and acceptance of Replacement Awards, off market
Nature of interest Direct, beneficial
Class of shares Ordinary TGO shares
Date of grant of Replacement Award 12 August 2019
Date of acceptance 14 August 2019
Clearance to deal Yes
Number of Replacement Award Value of transaction Vesting date of Expiry Date of
Replacement Awards strike price Replacement Award Replacement Award
10 893 353 R4.13 R44 989 547.89 30/09/2021 30/09/2024
Director Laurelle McDonald
Designation Chief Financial Officer
Company Tsogo Sun Hotels Limited
Nature of transaction Grant and acceptance of Replacement Awards, off market
Nature of interest Direct, beneficial
Class of shares Ordinary TGO shares
Date of grant of Replacement Award 12 August 2019
Date of acceptance 14 August 2019
Clearance to deal Yes
Number of Replacement Award Value of transaction Vesting date of Expiry Date of
Replacement Awards strike price Replacement Award Replacement Award
592 805 R4.22 R2 501 637.10 31/03/2017 31/03/2020
444 129 R4.50 R1 998 580.50 31/03/2018 31/03/2021
747 218 R4.01 R2 996 344.18 31/03/2019 31/03/2022
584 037 R5.14 R3 001 950.18 31/03/2020 31/03/2023
324 907 R4.62 R1 501 070.34 31/03/2021 31/03/2024
1 603 856 R4.24 R6 800 349.44 31/03/2022 31/03/2025
Name Moja Mahloele
Designation Company Secretary
Company Tsogo Sun Hotels Limited
Nature of transaction Grant and acceptance of Replacement Awards, off market
Nature of interest Direct, beneficial
Class of shares Ordinary TGO shares
Date of grant of Replacement Award 12 August 2019
Date of acceptance 15 August 2019
Clearance to deal Yes
Number of Replacement Award Value of transaction Vesting date of Expiry Date of
Replacement Awards strike price Replacement Award Replacement Award
118 560 R4.22 R500 323.20 31/03/2017 31/03/2020
111 035 R4.50 R499 657.50 31/03/2018 31/03/2021
124 538 R4.01 R499 397.38 31/03/2019 31/03/2022
97 344 R5.14 R500 348.16 31/03/2020 31/03/2023
162 454 R4.62 R750 537.48 31/03/2021 31/03/2024
82 550 R4.24 R350 012.00 31/03/2022 31/03/2025
Director Mara De Lima
Designation Chief Executive Officer
Company Hospitality Property Fund Limited
Nature of transaction Grant and acceptance of Replacement Awards, off market
Nature of interest Direct, beneficial
Class of shares Ordinary TGO shares
Date of grant of Replacement Award 12 August 2019
Date of acceptance 13 August 2019
Clearance to deal Yes
Number of Replacement Award Value of transaction Vesting date of Expiry Date of
Replacement Awards strike price Replacement Award Replacement Award
177 840 R4.22 R750 484.80 31/03/2017 31/03/2020
166 553 R4.50 R749 488.50 31/03/2018 31/03/2021
249 071 R4.01 R998 774.71 31/03/2019 31/03/2022
486 698 R5.14 R2 501 627.72 31/03/2020 31/03/2023
Director Riaan Erasmus
Designation Chief Financial Officer
Company Hospitality Property Fund Limited
Nature of transaction Grant and acceptance of Replacement Awards, off market
Nature of interest Direct, beneficial
Class of shares Ordinary TGO shares
Date of grant of Replacement Award 12 August 2019
Date of acceptance 13 August 2019
Clearance to deal Yes
Number of Replacement Award Value of transaction Vesting date of Expiry Date of
Replacement Awards strike price Replacement Award Replacement Award
194 683 R5.14 R1 000 670.62 31/03/2020 31/03/2023
216 605 R4.62 R1 000 715.10 31/03/2021 31/03/2024
Name Laurinda Rosalind van Onselen
Designation Company Secretary
Company Hospitality Property Fund Limited
Nature of transaction Grant and acceptance of Replacement Awards, off market
Nature of interest Direct, beneficial
Class of shares Ordinary TGO shares
Date of grant of Replacement Award 12 August 2019
Date of acceptance 16 August 2019
Clearance to deal Yes
Number of Replacement Award Value of transaction Vesting date of Expiry Date of
Replacement Awards strike price Replacement Award Replacement Award
146 011 R5.14 R750 496.54 31/03/2020 31/03/2023
Director Ravi Nadasen
Designation Director
Company Southern Sun Hotel Interests Pty Ltd
Nature of transaction Grant and acceptance of Replacement Awards, off market
Nature of interest Direct, beneficial
Class of shares Ordinary TGO shares
Date of grant of Replacement Award 12 August 2019
Date of acceptance 14 August 2019
Clearance to deal Yes
Number of Replacement Award Value of transaction Vesting date of Expiry Date of
Replacement Awards strike price Replacement Award Replacement Award
592 805 R4.22 R2 501 637.10 31/03/2017 31/03/2020
555 165 R4.50 R2 498 242.50 31/03/2018 31/03/2021
747 218 R4.01 R2 996 344.18 31/03/2019 31/03/2022
681 375 R5.14 R3 502 267.50 31/03/2020 31/03/2023
255 913 R3.91 R1 000 619.83 30/09/2020 30/09/2023
866 425 R4.62 R4 002 883.50 31/03/2021 31/03/2024
872 685 R4.24 R3 700 184.40 31/03/2022 31/03/2025
Director Jaco Boshoff
Designation Director
Company Southern Sun Hotel Interests Pty Ltd
Nature of transaction Grant and acceptance of Replacement Awards, off market
Nature of interest Direct, beneficial
Class of shares Ordinary TGO shares
Date of grant of Replacement Award 12 August 2019
Date of acceptance 15 August 2019
Clearance to deal Yes
Number of Replacement Award Value of transaction Vesting date of Expiry Date of
Replacement Awards strike price Replacement Award Replacement Award
592 805 R4.22 R2 501 637.10 31/03/2017 31/03/2020
555 165 R4.50 R2 498 242.50 31/03/2018 31/03/2021
622 680 R4.01 R2 496 946.80 31/03/2019 31/03/2022
584 037 R5.14 R3 001 950.18 31/03/2020 31/03/2023
758 123 R4.62 R3 502 528.26 31/03/2021 31/03/2024
353 793 R4.24 R1 500 082.32 31/03/2022 31/03/2025
Fourways
16 August 2019
Sponsor
Investec Bank Limited
Date: 16/08/2019 05:00:00
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