Sasol Limited SENS Announcement
Sasol Limited
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes:
JSE: SOL
NYSE: SSL
Sasol Ordinary ISIN codes:
ZAE000006896 US8038663006
Sasol BEE Ordinary Share code: JSE: SOLBE1
Sasol BEE Ordinary ISIN code: ZAE000151817
("Sasol" or “the Company”)
Announcement regarding repurchase of preferred ordinary shares from Sasol Inzalo Groups Funding
Proprietary Limited (RF) (“Inzalo Groups Funding”)
1.
Shareholders are reminded that at a general meeting held on 17 November 2017, Sasol shareholders
authorised the Company, by way of a specific authority, to repurchase all or some of the unlisted Sasol
preferred ordinary shares (“Preferred Ordinary Shares”) held by Inzalo Groups Funding at the 30-
day volume weighted average price (“VWAP”) of a Sasol ordinary share of no par value (“SOL Share”)
on the business day immediately prior to the date of the repurchase since the Preferred Ordinary
Shares would have, had they not been repurchased today, redesignated as SOL Shares on
Wednesday, 27 June 2018 (the “Redesignation Date”).
2.
The 30-day VWAP of a SOL Share on 25 June 2018 was R475,03.
3.
Sasol today repurchased 9 461 882 Preferred Ordinary Shares from Inzalo Groups Funding for a
purchase price of R475,03 per Preferred Ordinary Share (“the Repurchase”).
4.
After deducting the proceeds of the Repurchase of the Preferred Ordinary Shares from the aggregate
amount outstanding in respect of the preference shares issued by Inzalo Groups Funding, the
preference share funding shortfall remaining due as regards the Class C preference shares (together
with costs and taxes) is R59,42 million. On 27 June 2018, Sasol will subscribe for 1 ordinary share in
Inzalo Groups Funding for an amount of R59,42 million, so as to place Inzalo Groups Funding in funds
to settle the Class C preference share funding shortfall and any applicable costs and taxes. By doing
so, Sasol ensures that the guarantee which it gave to the holders of Class C preference shares in
Inzalo Groups Funding will not be called up.
5.
The financial effect of the Repurchase on Sasol’s earnings per share, headline earnings per share and
net asset value per share will be limited to the legal fees, the taxes levied by the South African Revenue
Services and the JSE documentation fee, which are considered negligible. The Repurchase will be
funded from Sasol’s available cash resources.
Sandton
26 June 2018