SOL - Sasol - Listing Of Sasol Bee Ordinary Shares on the Bee Segment of the Release Date: 26/01/2011 14:00:01 Code(s): SOL
SOL - Sasol - Listing Of Sasol Bee Ordinary Shares on the Bee Segment of the
Exchange operated by JSE Limited ("JSE")
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Share codes: JSE : SOL NYSE : SSL
ISIN codes: ZAE000006896 US8038663006
("Sasol" or "the Company")
LISTING OF SASOL BEE ORDINARY SHARES ON THE BEE SEGMENT OF THE EXCHANGE OPERATED
BY JSE LIMITED ("JSE")
1. Incorporation of Sasol
Sasol was incorporated under the laws of South Africa on 26 June 1979. The
Sasol ordinary shares have been listed on the JSE since October 1979 and on
the New York Stock Exchange since 9 April 2003.
2. Nature of Sasol`s business
Sasol is an integrated energy and chemicals company. The Company
manufactures and markets liquid fuels, gas and chemicals. Sasol mines coal
in South Africa. Through Sasol Synfuels (Proprietary) Limited, this coal,
along with Mozambican natural gas, is converted into fuels and chemicals
feedstock using proprietary technology.
3. Listing of Sasol BEE Ordinary Shares on the BEE Segment of the Main Board of
Shareholders of Sasol ("Sasol Shareholders") are advised that the JSE
Listings Requirements ("Listings Requirements") dealing with the
requirements of the BEE segment of the Main Board ("BEE Segment") have been
formally approved and will become effective from 1 February 2011. The
Listings Requirements which were approved do not differ in any material
respects from the draft Listings Requirements which were referred to in the
Sasol circular dated 1 November 2010 (the "Circular"). However, the JSE
rules and directives and the rules and directives of Strate Limited
(collectively, "Proposed New Rules and Directives") are yet to be formally
approved and subject to such formal approval, it is anticipated that the
Sasol BEE ordinary shares of no par value ("Sasol BEE Ordinary Shares")
will be listed on the BEE Segment with effect from the commencement of
trading on Monday, 7 February 2011.
The purchase of Sasol BEE Ordinary Shares on the BEE Segment will be
restricted the Broad-Based Black Economic Empowerment Act, 2003 ("BEE
A further announcement will be made when the JSE formally approves the
listing of the Sasol BEE Ordinary Shares on the BEE Segment and the
necessary Proposed New Rules and Directives are formally approved.
4. BEE Segment
The Sasol BEE Ordinary Shares will be listed on the BEE Segment under the
JSE alpha code "SOLBE1" and the ISIN "ZAE000151817". The BEE Segment will
be a sector of the Main Board on which securities that meet the Listings
Requirements and whose transfer is restricted to BEE Compliant Persons will
be listed ("BEE Securities"). This will not be a separate board for the
listing of companies, but rather a trading mechanism for BEE Securities.
The Main Board operates on the principle that there are no restrictions on
the transfer of shares. The BEE Segment will differ in that purchases of
BEE Securities will be restricted to BEE Compliant Persons.
5. BEE contract
The JSE will prescribe, as part of its JSE rules and directives, and
Listings Requirements, that a BEE contract be signed by those who wish to
purchase Sasol BEE Ordinary Shares ("BEE Contract"). The BEE Contract is a
generic contract which has been designed to make provision for all issuers
of BEE Securities who may list their BEE Securities on the BEE Segment, to
achieve the requirement that BEE Securities are beneficially owned only by
BEE Compliant Persons. The terms contained in the BEE Contract must be read
with the Additional Terms contained in Sasol`s Articles of Association.
These Additional Terms form an integral part of the BEE Contract and
provide specific information with respect to Sasol`s empowerment period,
the conditions under which Sasol allows encumbrances and the penalty that
will apply if a provision of the BEE Contract is breached.
6. Bulk dematerialisation
The JSE does not permit trading in securities which are in certificated
form, but requires them to be in dematerialised form. At the general
meeting held on 26 November 2010, Sasol Shareholders approved appropriate
resolutions for the implementation of the bulk dematerialisation of Sasol
BEE Ordinary Shares necessary for trading on the JSE. Holders of Sasol BEE
Ordinary Shares ("Sasol BEE Ordinary Shareholders") representing less than
0.33% of the Sasol BEE Ordinary Shareholders elected not to participate in
the bulk dematerialisation and will retain their shareholding in
7. The directors
The directors of Sasol are Mrs T H Nyasulu, Mr L P A Davies, Ms V N Fakude,
Ms K C Ramon, Mr M J N Njeke, Mr C Beggs, Mr G A Lewin, Mr H G Dijkgraaf,Dr
M S V Gantsho, Ms I N Mkhize and Prof J E Schrempp. The address where the
directors may be contacted is 1 Sturdee Avenue, Rosebank, Johannesburg,
8. The Circular
The Circular setting out the full terms and conditions of the listing of
the Sasol BEE Ordinary Shares and their trading on the BEE Segment by BEE
Compliant Persons is available on Sasol`s website (www.sasol.com).
26 January 2010
Financial Adviser and Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Edward Nathan Sonnenbergs Inc.
Computershare Investor Services (Proprietary) Limited
Date: 26/01/2011 14:00:01 Supplied by www.sharenet.co.za
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