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CITY LODGE HOTELS LIMITED - Dealings in securities: grant and acceptance of conditional awards under the City Lodge Hotels Limited CSP

Release Date: 26/10/2021 17:45
Code(s): CLH     PDF:  
Wrap Text
Dealings in securities: grant and acceptance of conditional awards under the City Lodge Hotels Limited CSP

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

PLAN 2021 (“CSP”)

In compliance with Rule 3.63 - 3.74 (both inclusive) of the JSE
Listings Requirements, the Company hereby announces that the
executive directors and company secretary have been granted,
and have accepted, conditional share awards in terms of the CSP
in respect of the 2022 financial year as detailed below.

Vesting of the conditional shares is subject to performance and
settlement conditions and post-vesting holding periods.

The conditional awards have been awarded at the 20-day VWAP as
at 21 October 2021 of R5.07 (“deemed price”).

Award and acceptance date:     22 October 2021
Deemed price:                  R5.07
Class of shares:               Ordinary shares of no par
Vesting periods:               21 October 2022: one third with
                               no holding period
                               21 October 2023: one third with
                               a two year holding period
                               21 October 2024: one third with
                               a one year holding period

Nature of Transaction:         Off market award and acceptance
                               of annual long-term incentive
                               award   of  conditional    shares
                               issued in terms of the CSP
Extent of interest:            Direct beneficial

Director:                      A.C. Widegger
Office held:                   Chief Executive Officer
Number of awards:              2,476,923
Value of transaction:          Threshold (30%):R3,767,399.88
                               Target (65%): R8,162,699.75
                               Stretch (100%): R12,557,999.61

Director:                      D. Nathoo
Office held:                   Chief Financial Officer
Number of awards:              1,212,480
Value of transaction:          Threshold (30%):R1,844,182.08
                               Target (65%): R3,995,727.84
                               Stretch (100%): R6,147,273.60

Director:                      L.G. Siddo
Office held:                   Chief Operating Officer
Number of awards:              1,240,627
Value of transaction:          Threshold (30%):R1,886,993.67
                               Target (65%): R4,088,486.28
                               Stretch (100%): R6,289,978.89

Officer:                       M.C. van Heerden
Office held:                   Group Company Secretary
Number of awards:              346,423
Value of transaction:          Threshold (30%):R526,909.38
                               Target (65%): R1,141,636.99
                               Stretch (100%): R1,756,364.61

The prerequisite clearance has been obtained in accordance with
Section 3.66 of the JSE Listings Requirements.

26 October 2021

Nedbank Corporate and Investment Banking, a division of Nedbank

Date: 26-10-2021 05:45:00
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