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SASOL LIMITED - Sasol Inzalo Public Limited (RF) announces its intention to list on the Stock Exchange operated by the JSE Limited

Release Date: 17/09/2015 12:01:00      Code(s): SOL SOLBE1     
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 Inzalo Public announces its intention to list on the BEE
Segment of the Main Board of the stock exchange operated by the
JSE. The requisite documentation for listing is currently being
reviewed by the JSE and neither the documentation nor the
application for listing has been formally approved by the JSE.
If approved by the JSE, Sasol Inzalo Public shareholders will be
approached for the approvals required to enable a listing.

Sasol Inzalo Public was established by Sasol Limited (?Sasol?)
in 2008 to allow previously disadvantaged South Africans an
opportunity to acquire an interest in the company and to share
in Sasol?s success. This includes black South Africans, B-BBEE-
owned companies and B-BBBEE controlled companies, as defined in
the Broad-Based Black Economic Empowerment Act, No. 53 of 2003
(?BEE Act?). Sasol Inzalo Public indirectly owns 2,4% of
Sasol?s total issued share capital.

The proposed listing of the ordinary shares in Sasol Inzalo
Public on the JSE will provide existing and prospective holders
of ordinary shares in Sasol Inzalo Public with access to a
licensed trading platform with the benefits of a globally
recognised stock exchange in a regulated environment. This
includes a market determined share price and exit mechanism,
while ensuring that Sasol Inzalo Public ordinary shares are
traded exclusively amongst BEE compliant persons, as defined in
the JSE Listings Requirements, for the remaining duration of the
empowerment period, which commenced on 8 September 2008 and will
end on 7 September 2018 (?Empowerment Period?).

The board of directors of Sasol Inzalo Public decided to list
the ordinary shares in Sasol Inzalo Public on the JSE pursuant
to a directive issued by the Financial Services Board (?FSB?) to
the effect that it would not allow existing single counter
trading mechanisms to continue operating without a license under
the Financial Markets Act 2012 (Act No 19 of 2012)(?FMA?). Sasol
Inzalo Public has been granted an exemption to operate its
existing trading mechanism until 30 November 2015.

Commenting on the proposed listing, Ms Khungeka Njobe, Chairman
and Independent Non-Executive Director of Sasol Inzalo Public,
said ?By listing Sasol Inzalo Public on the main board of the
JSE, shareholders will be able to trade on a world-class stock
exchange and benefit from the flexibility this platform offers.
This is testament of the commitment to our shareholders and
ensuring that we comply with all regulatory requirements?.

A pre-listing statement including full details of the proposed
listing will be available on or about 23 October 2015. Sasol
Inzalo Public has appointed Deutsche Securities (SA) Proprietary
Limited as its sponsor and Edward Nathan Sonnenbergs Inc. as
legal advisor.

Additional Information

During May 2008, Sasol Inzalo Public issued the funded
invitation prospectus dated May 2008 (?Funded Invitation
Prospectus?) inviting black people, B-BBEE-owned companies and
B-BBEE controlled companies, to make offers, in terms of which
successful applicants would be allotted and issued Sasol Inzalo
Public ordinary shares (?Funded Invitation?). The Funded
Invitation formed part of the BEE ownership initiatives of Sasol
aimed at furthering Sasol?s BEE objectives. A total of
16 085 199 Sasol Inzalo Public ordinary Shares were issued by
Sasol Inzalo to 214 404 successful applicants. As at the date of
this announcement, a total of 16 085 199 Sasol Inzalo Public
ordinary shares which are held by 206 496 holders remain in

From 8 September 2011, Sasol Inzalo Public ordinary shareholders
were permitted to trade their Sasol Inzalo Public ordinary
shares and in terms of the Funded Invitation Prospectus, Sasol
and Sasol Inzalo Public undertook to use their reasonable
endeavours to establish a trading market to facilitate trading
in the Sasol Inzalo Public ordinary shares. Sasol and Sasol
Inzalo Public put in place the Sasol Inzalo Public share trading
platform with effect from 1 March 2012.
In July 2014, the FSB issued a directive stipulating that a
person who maintains or provides infrastructure which meets the
requirements of the definition of an exchange in the FMA
operates an exchange, regardless of whether the infrastructure
is provided for transactions in respect of only one security.

On the basis of this directive, the FSB informed Sasol Inzalo
Public that it is of the view that the Sasol Inzalo Public share
trading platform is an exchange in terms of the FMA and is
therefore required to be licensed as an exchange in terms of the

The FSB granted Sasol Inzalo Public a temporary exemption until
30 November 2015 from applying to the FBS to have the Sasol
Inzalo Public share trading platform licensed as an exchange or
from listing the Sasol Inzalo Public ordinary shares on the BEE
Segment of the Main Board of the JSE as an asset backed
security. At the date of issue of this announcement, the JSE is
the only exchange licensed under the FMA which has a segment
where trade in the securities listed on that segment, namely BEE
Securities, is restricted to occur exclusively between BEE
Compliant Persons.

17 September 2015

Sponsor: Deutsche Securities (SA) Proprietary Limited

Legal advisor: Edward Nathan Sonnenbergs Inc.

Date: 17/09/2015 12:01:00 Supplied by www.sharenet.co.za                     
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