Wrap Text
SOL - Sasol Limited - Replacement of announcement sent at 14h00 - Listing of
Sasol BEE ordinary shares on the BEE segment of the exchange operated by JSE
limited ("JSE")
Sasol Limited
(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 the JSE
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 to black groups and persons determined in accordance with the
Codes issued under the Broad-Based Black Economic Empowerment Act, 2003
("BEE Compliant Persons").
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 certificated form.
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, 2196.
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).
Johannesburg
26 January 2011
Financial Adviser and Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Attorneys
Edward Nathan Sonnenbergs Inc.
Transfer Secretaries
Computershare Investor Services (Proprietary) Limited
Date: 26/01/2011 16:07:48 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.