June 12, 2020 / 1:53 PM / a month ago

BRIEF-City Lodge Hotels Says Talks With Funders Have Been Ongoing

June 12 (Reuters) - City Lodge Hotels Ltd:

* CITY LODGE HOTELS - TALKS WITH FUNDERS HAVE BEEN ONGOING AND, IN ADDITION TO EXISTING UNDRAWN FACILITIES, FACILITIES OF R200 MILLION HAVE BEEN SECURED

* CITY LODGE HOTELS LTD - BORROWING COVENANTS FOR BOTH JUNE 2020 AND DECEMBER 2020 MEASUREMENT PERIODS HAVE BEEN WAIVED

* CITY LODGE HOTELS LTD - BORROWING COVENANTS FOR BOTH JUNE 2020 AND DECEMBER 2020 MEASUREMENT PERIODS HAVE BEEN WAIVED

* CITY LODGE HOTELS- BOARD & 14 MEMBERS OF EXECUTIVE,SENIOR MANAGEMENT TEAM, TO FOREGO 20% OF FEES AND SALARIES OVER COMMENSURATE 3-MONTH PERIOD

* CITY LODGE HOTELS LTD - GROUP IS READY TO COMMENCE OPERATIONS

* CITY LODGE HOTELS LTD - HAS IMPLEMENTED 50% SALARY REDUCTIONS FOR ALL EMPLOYEES Source text for Eikon: Further company coverage:

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