Entertainment Holdings and Tsogo Sun reduce City Lodge stake to 3%

City Lodge Hotels Limited announced that Entertainment Holdings Proprietary Limited and Tsogo Sun Investments Proprietary Limited have disposed of City Lodge ordinary shares. Following this transaction, their collective beneficial interest now stands at 3.0% of the total securities in issue. This disclosure was made in compliance with section 122(3)(b) of the Companies Act, No. 71 of 2008, and paragraph 3.83 of the JSE Limited Listings Requirements.

The Companies Act defines Entertainment Holdings and Tsogo Sun Investments as related persons. City Lodge’s board of directors has accepted responsibility for the announcement's accuracy, stating that the information is true and complete to the best of their knowledge and belief. The board relied on the accuracy of the formal notification received from both entities.

In line with regulatory requirements, City Lodge has filed the necessary notices with the Takeover Regulation Panel as stipulated by section 122(3)(a) of the Companies Act. Nedbank Corporate and Investment Banking, a division of Nedbank Limited, is the sponsor for this announcement.