Go Back Email this Link to a friend


Sol - Sasol Inzalo Exceeds All Expectations

Release Date: 31/07/2008 12:00:02      Code(s): SOL
SOL - Sasol Inzalo Exceeds All Expectations                                     
Sasol Limited                                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration No.: 1979/003231/06)                                              
Share code JSE: SOL      NYSE: SSL                                              
ISIN: ZAE000006896       US8038663006                                           
("Sasol")                                                                       
MEDIA RELEASE                                                                   
SASOL INZALO EXCEEDS ALL EXPECTATIONS                                           
Response to the Sasol Inzalo Black Public Invitations has far exceeded          
expectation in terms of its broad-based appeal and the invitations are almost   
four times oversubscribed with the funded invitation receiving the bulk of the  
applications.                                                                   
As a testimony to the broad-based attraction of the invitations, 95% of the     
applications received were for 200 shares, or less.                             
"We had a high end target of bringing 200 000 new shareholders into Sasol       
through Inzalo and at this stage, we have about 309 000 applicants, the vast    
majority of whom are individuals seeking 200 shares or less," said Sasol Chief  
Executive, Pat Davies.                                                          
In addition to the huge numbers of applications received, Inzalo has been well  
received by both men and women, with a strong showing by women at 47% of the    
applications.                                                                   
Since the close of the invitations, a detailed process of reconciliation and    
collation has been underway, to allow for the due processing of the             
applications.                                                                   
A cornerstone of the Sasol Inzalo invitations was to create a transaction that  
would offer truly broad-based empowerment to a mass of people.                  
"The success of Inzalo has been way beyond our expectations and the consequence 
of this unprecedented response is that the transaction will not be able to      
accommodate everyone to their full expectation," Davies said.                   
The Inzalo commitment to shareholder development of a broad-based nature remains
firm.  The share allocation model was designed to ensure that shares will be    
issued in a "bottom up" approach. Any applicants seeking small numbers of shares
will be accommodated first - in full or in part. This will ensure the Sasol     
objectives of a fundamentally broad-based Inzalo shareholder profile will be    
fulfilled. Allocations further up the pyramid will be made on a pro-rata basis, 
based on the number of shares applied for by the applicant, as well as the      
number of shares available.                                                     
As stated in the prospectus, where the full application cannot be met, the      
applicant will receive a refund in the appropriate amount of money by electronic
transfer back into the applicant`s specified personal bank account. Interest    
will be paid to the affected applicant from the closing date of 9 July, until   
the date of the refund, which is anticipated to be approximately six weeks.     
In line with the prospectus, Sasol anticipates responding to applicants within  
45 days of the closing date. The target date of 22 August has been determined   
and Sasol will endeavour to meet that deadline. Should the large volumes of     
applications require an extension to those 45 days the public will be informed. 
Sasol will ensure the allocation strictly adheres to the guidelines detailed    
within the Inzalo prospectus to ensure a fair allocation of shares.             
It is expected that new shareholders should begin to receive their "welcome     
packs" towards the end of August. The packs will contain their specific share   
allocation notice as well as information relating to Sasol, their rights and    
responsibilities as new shareholders, as well as administrative information.    
Further information, relating to the final and confirmed number of shareholders 
as well as the allocation process will be made to the public via the media,     
after 19 August 2008.                                                           
The Sasol Inzalo call centre remains active and can be contacted on 0800        
000 222.                                                                        
The Sasol Inzalo black public invitations closed on 9 July 2008, following a 3  
day extension, from the original closing date of 5 July. Sasol would like to    
thank South Africans for the enormous support and interest shown in the Inzalo  
transaction.                                                                    
Issued by:                                                                      
Jacqui O`Sullivan, Group Communication Manager                                  
Direct telephone +27 (011) 441-3252; Mobile +27 (0) 082 883 9697;               
jacqui.osullivan@sasol.com                                                      
Johann van Rheede, Sasol Media Manager                                          
Direct telephone +27 (011) 441-3295; Mobile +27 (0) 82329 0186;                 
johann.vanrheede@sasol.com                                                      
31 July 2008                                                                    
Merchant bank and transaction sponsor                                           
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Sponsor                                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 31/07/2008 12:00:02 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.