CITY LODGE HOTELS LIMITED - Results of the Odd-lot Offer

Results of the Odd-lot Offer

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


RESULTS OF THE ODD-LOT OFFER


1.   Introduction

     1.1. City Lodge ordinary shareholders ("Shareholders") are referred to the circular containing details of the odd-lot
          offer ("Odd-lot Offer") that was distributed to Shareholders on Thursday, 26 October 2023 ("Circular").
     1.2. Shareholders are further referred to the finalisation announcement that was released on SENS on Monday,
          4 December 2023, containing the Odd-lot Offer Price and confirming that the Odd-lot Offer was unconditional and
          accordingly would be implemented in accordance with its terms.
     1.3. Capitalised terms used herein that are not otherwise defined, bear the meanings ascribed to them in the Circular.

2.   Results of the Odd-lot Offer

     2.1. Shareholders are advised that the Odd-lot Offer closed at 12:00 (South African Standard Time) on Thursday, 14
          December 2023 and the results thereof are as follows:

                               Number of Shares           Number of Shares       Number of Shares        Total number of Shares
                           retained by election           sold by election        sold by default           repurchased by City
                                                                                       election 1         Lodge pursuant to the
                                                                                                                  Odd-lot Offer

       Certificated                         152                          0                 48 742                        48 742

       Dematerialised                    22 372                    251 835                 14 121                       265 956

       Total                             22 524                    251 835                 62 863                       314 698


         Note:
         1. In terms of the Odd-Lot Offer, Odd-lot Holders who did not make an election were automatically regarded as
             having disposed of their Odd-lot Holdings to the Company.

     2.2. City Lodge repurchased a total of 314 698 Shares, representing 0.05% of the total issued ordinary share capital of
          City Lodge for a total consideration of R1 479 815.30.

     2.3. The Shares repurchased by City Lodge in terms of the Odd-lot Offer will be cancelled and delisted on Tuesday,
          19 December 2023, resulting in the total issued ordinary share capital of City Lodge reducing from 609 859 502 to
          609 544 804 Shares.

3.   Payment of the Odd-lot Consideration

     3.1. Dematerialised Odd-lot Holders who have accepted the Odd-lot Offer or who have made no election will have
          their accounts held at their CSDP or broker credited with the Odd-lot Consideration today, Monday, 18 December
          2023.

     3.2. Payments of the Odd-lot Consideration to Certificated Odd-lot Holders who have accepted the Odd-lot Offer or
          who have made no election will also be made today, Monday, 18 December 2023, by way of an electronic funds
          transfer into the Shareholder's bank account.


Bryanston
18 December 2023

Investment Bank, Corporate Advisor and Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 18-12-2023 11:25:00
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