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CITY LODGE HOTELS LIMITED - Extension of the company's BEE shareholders' funding arrangement

Release Date: 23/11/2017 10:45
Code(s): CLH     PDF:  
Wrap Text
Extension of the company's BEE shareholders' funding arrangement

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

EXTENSION OF THE COMPANY’S BEE SHAREHOLDERS’ FUNDING
ARRANGEMENT

Shareholders are advised that The Standard Bank of South
Africa Limited has agreed to extend the term of its
Preference Share funding to the Company’s three BEE
shareholder entities, which acquired a total of 6,390,365
shares (representing 14.7% of current issued share capital)
in the Company, pursuant to the scheme of arrangement that
was approved and implemented in 2008. The Preference
Shares are now redeemable on 31 January 2021.


Bryanston
23 November 2017

Sponsor
Nedbank Corporate & Investment Banking

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