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CITY LODGE HOTELS LIMITED - Changes to the board and committee composition

Release Date: 20/10/2021 13:16
Code(s): CLH     PDF:  
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Changes to the board and committee composition

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

CHANGES TO THE BOARD AND COMMITTEE COMPOSITION

In compliance with Section 3.59 of the JSE Listings
Requirements, City Lodge hereby notifies shareholders of
the following changes to the board and the composition of
various committees:

-   Mr Vincent Rague has elected not to make himself
    available for re-election at the company’s forthcoming
    annual general meeting scheduled to take place on 25
    November 2021 (“AGM”) and will accordingly retire from
    the board and risk committee with effect from the close
    of the AGM.

-   Mr Moses Kgosana has been appointed as independent non-
    executive director to fill the vacancy that will arise
    following Mr Rague’s retirement and as a member of the
    audit and social and ethics committeeswith effect from
    25 November 2021, which appointment is subject to
    shareholder approval at the AGM.

    Mr Kgosana holds BCompt Hons and CA(SA)degrees and an
    Executive Development Programme Diploma (GIBS) with
    extensive experience and expertise in the accounting,
    auditing and advisory profession, having been a founding
    member of KMMT Chartered Accountants in 1993 prior to it
    merging with KPMG in 1999. He also served as CEO of KPMG
    South Africa, Chairman of KPMG Africa and member of KPMG
    International.

    He currently serves on the boards of Phembani Group,
    MOGS Proprietary Limited, Clinix Group and The Nelson
    Mandela Children’s Hospital, having previously served on
    a number of boards including Alexander Forbes, Imperial
    Holdings, Massmart Holdings, Transaction Capital, AECI,
    SAICA and IRBA.

-   Mr Andrew Lapping has been appointed as independent non-
    executive director and as a member of the audit and
    remuneration and nominations committees with effect from
    25 November 2021, which appointment is subject to
    shareholder approval at the AGM.

    Mr Lapping holds BSc Engineering and BCom Accounting
    degrees and is a CFA Charter holder with extensive
    executive management experience in asset management and
    governance, ESG and executive remuneration, having spent
    20 years at Allan Gray in various capacities, including
    ultimately serving as Chief Investment Officer.

    He currently serves as trustee on the Allan Gray Orbis
    Foundation Endowment.

The board thanks Mr Rague for his valuable contribution and
dedicated service to the company since his appointment in
2016 and wishes him well in his future endeavours.

The board welcomes Messrs Kgosana and Lapping and looks
forward to their contribution to the company.

20 October 2021
Bryanston

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

Date: 20-10-2021 01:16:00
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