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Sasol Limited - Announcement

Release Date: 08/06/1998 08:53:03      Code(s): SOL SOLD
SASOL LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 79/03231/06)
("SASOL")
ANNOUNCEMENT
IN THE JOINT AND FURTHER CAUTIONARY ANNOUNCEMENT DATED 26 MAY 1998, SASOL
ANNOUNCED ITS INTENTION TO PROPOSE A SCHEME OF ARRANGEMENT BETWEEN AECI LIMITED
("AECI") AND THE HOLDERS OF PREFERENCE SHARES OF R2 EACH IN AECI ("THE
PREFERENCE SCHEME").
IN TERMS OF THE PREFERENCE SCHEME, THE HOLDERS OF PREFERENCE SHARES OF R2 EACH
IN AECI ("AECI PREFERENCE SHAREHOLDERS") WILL CEASE TO BE AECI PREFERENCE
SHAREHOLDERS FOR A CASH CONSIDERATION OF GBP1,05 (BRITISH) PER AECI PREFERENCE
SHARE PLUS AN ADDITIONAL AMOUNT PER AECI PREFERENCE SHARE EQUAL TO THE PRO RATA
PORTION OF THE PREFERENCE SHARE DIVIDEND THAT WOULD HAVE ACCRUED TO AECI
PREFERENCE SHAREHOLDERS, CALCULATED FROM THE DATE OF THE LAST PREFERENCE SHARE
DIVIDEND PAYMENT TO THE DATE OF PAYMENT OF THE CASH CONSIDERATION TO THE AECI
PREFERENCE SHAREHOLDERS.  IT IS EXPECTED THAT THE AECI PREFERENCE SHARES WILL
BE DELISTED FROM THE LONDON STOCK EXCHANGE FOLLOWING THE SUCCESSFUL
IMPLEMENTATION OF THE PREFERENCE SCHEME.
THE PREFERENCE SCHEME IS CONDITIONAL UPON, INTER ALIA, THE SCHEME OF
ARRANGEMENT BETWEEN AECI AND ITS ORDINARY SHAREHOLDERS, AS DETAILED IN THE
ANNOUNCEMENT DATED 26 MAY 1998, BECOMING OPERATIVE.
JOHANNESBURG
8 JUNE 1998
MERCHANT BANK
INVESTEC MERCHANT BANKING
INVESTEC BANK LIMITED
(REGISTRATION NUMBER 69/04763/06)



                                        
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