CITY LODGE HOTELS LIMITED - Directors dealings in securities exercise of Share Appreciation Rights (SARs)

Director’s dealings in securities – exercise of Share Appreciation Rights (“SARs”)

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

Director’s 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:

Director:                                        C. Ross
Office held:                                     Chief Executive
Name of company:                                 City Lodge Hotels Limited
Class of securities:                             SARs in respect ordinary shares
Number of SARS:                                  57,499 SARs to be settled by the purchase
                                                 of 28,686 City Lodge ordinary shares
Grant Price:                                     R74.62
Grant Date:                                      1 September 2010
Nature of Transaction:                           On market purchase of ordinary shares
                                                 pursuant to the off-market exercise of
                                                 SARs awarded in 2010, which vested on 1
                                                 September 2015
Date of transaction:                             18 November 2015
Number of shares:                                3,318
Price range:                                     R153.00 - 154.00
VWAP:                                            R153.51
Value of transaction:                            R509,362.29
Nature and extent of
Director’s interest in the
transaction:                                     Direct beneficial

Director:                                        C. Ross
Office held:                                     Chief Executive
Name of company:                                 City Lodge Hotels Limited
Class of securities:                             SARs in respect ordinary shares
Number of SARS:                                  57,499 SARs to be settled by the purchase
                                                 of 28,686 City Lodge ordinary shares
Grant Price:                                     R74.62
Grant Date:                                      1 September 2010
Nature of Transaction:                           On market purchase of ordinary shares
                                                 pursuant to the off-market exercise of
                                                 SARs awarded in 2010, which vested on 1
                                                 September 2015
Date of transaction:         19 November 2015
Number of shares:            2,932
Price:                       R155.00
Value of transaction:        R454,460.00
Nature and extent of
Director’s interest in the
transaction:                 Direct beneficial


Director:                    C. Ross
Office held:                 Chief Executive
Name of company:             City Lodge Hotels Limited
Class of securities:         Ordinary shares
Number of shares:            10
Nature of Transaction:       On market sale of ordinary shares to
                             settle the tax obligation that arose
                             following the off-market exercise of
                             57,499 SARs awarded in 2010 and which
                             vested on 1 September 2015
Date of transaction:         18 November 2015
Sale Price:                  R153.70
Value of transaction:        R1,537.00
Nature and extent of
Director’s interest in the
transaction:                 Direct beneficial

Director:                    C. Ross
Office held:                 Chief Executive
Name of company:             City Lodge Hotels Limited
Class of securities:         Ordinary shares
Number of shares:            1,308
Nature of Transaction:       On market sale of ordinary shares to
                             settle the tax obligation that arose
                             following the off-market exercise of
                             57,499 SARs awarded in 2010 and which
                             vested on 1 September 2015
Date of transaction:         19 November 2015
Price range:                 R154.48 – 155.00
Sale Price:                  R154.86
Value of transaction:        R202,556.44

Nature and extent of
Director’s 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
20 November 2015

Sponsor
JP Morgan Equities South Africa Proprietary Limited

Date: 20/11/2015 01:30:00 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.