Our Group structure


^ Tsogo Sun Investments Proprietary Limited was a 59,2% shareholder in Hospitality at 31 March 2020. Tsogo Sun Investments is wholly owned by Tsogo Sun Hotels Limited (‘Tsogo Sun Hotels’), formerly Southern Sun Hotels Proprietary Limited. Between 28 July 2020 and 19 August 2020 Tsogo Sun Hotels Limited acquired 15.8% of Hospitality’s total shares in issue (increasing the total shareholding of the Tsogo Sun Group in Hospitality to 75%). This is in line with a SENS announcement made by Tsogo Sun Hotels Limited on 3 July 2020, wherein it advised its shareholders that due to Hospitality’s share trading at a significant discount to net asset value, it intended on acquiring additional shares in Hospitality in exchange for the issue of shares in Tsogo Sun Hotels Limited.
* Wholly owned by Hospitality.
# Hospitality underwent an internal restructure, effective 1 April 2019, which resulted in the risks and benefits held by Fezisource Proprietary Limited, The Cullinan Hotel Proprietary Limited and Merway Fifth Investments Proprietary Limited in the Fund’s property portfolio, transferring to HPF Properties Proprietary Limited.