BRIEF-City Lodge Hotels Proposes Rights Offer Of R1.2 Bln
June 22 (Reuters) - City Lodge Hotels Ltd CLHJ.J :
* CITY LODGE HOTELS LTD - PROPOSED RIGHTS OFFER OF R1.2 BILLION
* CITY LODGE HOTELS LTD - ZAR1.2 BILLION WILL ALLOW COMPANY TO REPAY CORPORATE DEBT
* CITY LODGE HOTELS LTD - ZAR1.2 BILLION WILL ALSO ALLOW COMPANY TO PROVIDE FOR ITS OBLIGATION UNDER BEE FUNDING ARRANGEMENTS
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