City Lodge Hotels (CLH) announced an odd-lot offer to shareholders owning less than 100 ordinary shares in the company:
Shareholders may:
NB! The default action is to sell. It is very important that shareholders who wish to retain their CLH shares specifically elect to do so.
If an investor accepts the offer or makes no election to retain their shares (default action), the subsequent odd-lot cash consideration will be distributed as a return of capital It will therefore not be regarded as a dividend for South African Dividends Tax purposes but as proceeds on the disposal of the CLH shares. An election to retain their shares will have no tax implications for the shareholders.
FNB Stockbroking and Portfolio Management View
Corporate Actions Information
| Company | City Lodge Hotels Ltd |
| Share Code | CLH |
| Corporate Action Type | Odd-lot Offer |
| Option 1 | Sell CLH shares |
| Option 2 | Retain CLH shares |
| Default | Option 1 (Sell) |
| FNB SPM House View | Option 1 (Sell) |
Salient Dates
| Odd lot offer opens | Monday, 27 November 2023, 09:00 |
| Last day to trade to participate in the odd-lot offer | Monday, 11 December 2023 |
| Ex-date | Tuesday, 12 December 2023 |
| Election date (internal deadline) | Tuesday, 12 December 2023, 16:00 |
| Record date | Thursday, 14 December 2023 |
| Pay date | Monday, 18 December 2023 |
