TSOGO SUN HOTELS LIMITED - Joint voluntary announcement Update on the impact of COVID-19

Joint voluntary announcement – Update on the impact of COVID-19

TSOGO SUN HOTELS LIMITED                          HOSPITALITY PROPERTY FUND LIMITED
(previously known as Southern Sun Hotels          Incorporated in the Republic of South Africa
Proprietary Limited)                              (Registration number 2005/014211/06)
Incorporated in the Republic of South Africa      JSE share code: HPB
Registration number 2002/006356/06                ISIN: ZAE000214656
Share Code: TGO ISIN:ZAE000272522                 Bond company code: HPAI
(“Tsogo Sun Hotels” or “the Group”)               (Approved as a REIT by the JSE)
                                                  (“HPF”)




JOINT VOLUNTARY ANNOUNCEMENT – UPDATE ON THE IMPACT OF COVID-19



Following the announcement made last night by President Ramaphosa of a nationwide lockdown to contain the
spread of COVID-19, the Group will be accelerating the deactivation of hotels. Only hotels that meet the
Government’s prescribed requirements, that is: for the specific purpose of supporting essential or critical business
continuity services, will remain active.

The Group will not be hosting an investor conference call as previously advised. A number of investors have
requested calls with management and these have been declined due to the risk of asymmetrical release of
information to the market.

Clearly this is an unprecedented situation and the Group intends to be as transparent as possible as it manages its
way through this crisis. However, the situation is also extremely fluid and therefore it is in the Groups’ and
shareholders’ best interest that information is disseminated in an orderly and considered manner. Our first priority
is to ensure the safety of our people and that we assist Government in implementing the lockdown safely and
timeously. Further updates will be provided to shareholders in due course.


24 March 2020



JSE Equity Sponsors
Tsogo Sun Hotels: Investec Bank Limited
Hospitality Property Fund: Java capital

JSE Debt Sponsor
Hospitality Property Fund: Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 24-03-2020 02:48:00
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