by MTHULISI SIBANDA
JOHANNESBURG – THE Johannesburg Stock Exchange (JSE) has approved the rebranding of Tsogo Sun Hotels to Southern Sun.
JSE approved the name change as well as a new share code and short name “SSU”, from “TGO”.
The changes are subject to shareholder approval.
Tsogo Sun is convening a general meeting of shareholders to be held on August 18, 2022.
The termination date for trading under the name Tsogo Sun Hotels is forecast for September 14.
That would be the commencement of trading under Southern Sun Limited and the new share code.
Tsogo Sun Hotels unbundled from casino and hospitality giant Tsogo Sun Holdings in 2019.
For more than 50 years, the company believed it had played an important role in shaping the hospitality landscape in South Africa and the broader African continent.
In May this year, Tsogo Sun reports its revenues had more than doubled and earnings soared over the past year.
Earnings rose to more than R2,7 billion (US$171,38 million) for the year ended March 31, 2002.
This is up from over R1,1 billion the previous year.
– CAJ News