City Lodge completes significant share repurchase program

City Lodge Hotels Limited has concluded a general repurchase of 42,729,300 ordinary shares, representing 7.14361% of its issued share capital, as announced on October 8, 2025. The repurchases occurred between March 10, 2025, and October 3, 2025, at prices ranging from R3.53 to R4.20 per share, with a volume weighted average price of R3.98529, totaling R170,288,826.62. This program was funded through available cash resources and debt facilities.

Following the repurchase, 7,629,300 shares have been delisted and canceled, with an additional 35,100,000 shares expected to be delisted by October 10, 2025. City Lodge now holds 41,987,605 shares as treasury shares, constituting 7.56% of its shares in issue. The board affirmed that the company remains solvent and liquid, with no material impact on its financial information other than a decrease in cash balances.