CITY LODGE HOTELS LIMITED - Change in function of directors
Change in function of directors
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
CHANGE IN FUNCTION OF DIRECTORS
In compliance with Sections 3.59 of the JSE Listings
Requirements, shareholders are advised that:
1. following the unwind of the BEE transaction and indirect
repurchase by the Company of 99.99% of the shares in Vuwa
Hotels Pty Ltd (“Vuwa”), the board has reviewed the
classification of the non-executive Chairman, Mr Bulelani
Ngcuka, who now indirectly holds 0.01% of the shares in
Vuwa, and has determined that he can be regarded as
independent with immediate effect; and
2. as a result of the reclassification of Mr Ngcuka as
independent, there is no longer a requirement for the role
of a lead independent director. The board is however
pleased to announce that Mr Frank Kilbourn, who has served
as lead independent director since 2014, will assume the
role of Deputy Chairman with effect from 9 September 2021.
10 September 2021
Bryanston
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank
Limited
Date: 10-09-2021 04:50:00
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