SOL - Sasol Inzalo Exceeds All Expectations Release Date: 31/07/2008 12:00:02 Code(s): SOL
SOL - Sasol Inzalo Exceeds All Expectations
(Incorporated in the Republic of South Africa)
(Registration No.: 1979/003231/06)
Share code JSE: SOL NYSE: SSL
ISIN: ZAE000006896 US8038663006
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
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
Since the close of the invitations, a detailed process of reconciliation and
collation has been underway, to allow for the due processing of the
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
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
Jacqui O`Sullivan, Group Communication Manager
Direct telephone +27 (011) 441-3252; Mobile +27 (0) 082 883 9697;
Johann van Rheede, Sasol Media Manager
Direct telephone +27 (011) 441-3295; Mobile +27 (0) 82329 0186;
31 July 2008
Merchant bank and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Deutsche Securities (SA) (Proprietary) Limited
Date: 31/07/2008 12:00:02 Supplied by www.sharenet.co.za
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