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SASOL LIMITED - Grant of Share Awards to Directors and the Company Secretary of Major Subsidiaries of Sasol

Release Date: 31/10/2019 16:01
Code(s): SOL SOLBE1     PDF:  
Wrap Text
Grant of Share Awards to Directors and the Company Secretary of Major Subsidiaries of Sasol

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” or “Company”)

GRANT OF SHARE AWARDS TO DIRECTORS AND THE COMPANY SECRETARY OF
MAJOR SUBSIDIARIES OF SASOL

In compliance with paragraphs 3.63 to 3.66 of the JSE Listings Requirements, Sasol hereby
announces that the undermentioned participants in the Sasol Long-Term Incentive Plan
(“the Plan” and/or “LTI”, as appropriate), have been granted annual conditional share
awards.

The Board or the Sasol Remuneration Committee, as necessary, approved the annual
restricted share awards made on 30 October 2019 which form an important part of the
Sasol reward mix as per the remuneration policy. 50% of the award is subject to the
achievement of corporate performance targets. In terms of the rules of the Plan, the
participants have to decline such an award within ten days after the award date, failing
which the award will be deemed to have been accepted1.

The rules of the LTI Plan are available on the Sasol website www.sasol.com.

 Award date:                           30 October 2019
 Deemed acceptance date:               11 November 2019
 Vesting periods:                      50% after 3 years subject to the achievement of
                                       corporate performance targets, and the balance after
                                       5 years
 Class of securities:                  Sasol ordinary shares
 Nature of transaction:                Annual supplementary LTI Award (off-market)
 Market value per share*               R298,76
 Nature and extent of interest:        Direct beneficial

 Surname and          Designation      Company                        Number   Total value of
 initials                                                                of               the
                                                                     shares       transaction
                                                                                      (ZAR)**
 Brenda Baijnath      Director         Sasol South Africa             7 750      2 315 390,00
                                       Limited
 Thabiet Booley       Director         Sasol South Africa             7 264      2 170 192,64
                                       Limited
                      Director         Sasol Oil (Pty) Ltd
 Edward Cameron       Director         Sasol Oil (Pty) Ltd            8 731      2 608 473,56
 Gosiame Lorato       Director         Sasol Oil (Pty) Ltd            4 655      1 390 727,80
 Khoele
 Mmakuate             Company          Sasol South Africa             8 500      2 539 460,00
 Moratwe Lucy         Secretary        Limited
 Mokoka2
 Rightwell            Director         Sasol South Africa             7 957      2 377 233,32
 Mzimkhulu Laxa                       Limited
 Ndiitwani Grace      Director        Sasol South Africa             4 650       1 389 234,00
 Nndwammbi                            Limited
                      Director        Sasol Oil (Pty) Ltd
 Martin Sebastian     Director        Sasol South Africa             6 319       1 887 864,44
 Solomon                              Limited
 Nina Stofberg        Director        Sasol Chemicals (USA)          4 121       1 231 189,96
                                      LLC

 
Award date:                          30 October 2019
 Deemed acceptance date:              11 November 2019
 Vesting periods:                     50% after 3 years subject to the achievement of
                                      corporate performance targets, and the balance after
                                      5 years
 Class of securities:                 Sasol American Depository Receipts (ADRs)
 Nature of transaction:               Annual supplementary LTI Award (off-market)
 Market value per share*              US$20,23
 Nature and extent of interest:       Direct beneficial

 Surname and          Designation     Company                        Number       Total value
 initials                                                                of            of the
                                                                     shares       transaction
                                                                                      (US$)**
 Eric Stouder         Director        Sasol South Africa Limited      9 737        196 979,51
 Michael Thomas       Director        Sasol (USA) Corporation        10 267        207 701,41

The necessary clearance to deal has been obtained for all the transactions set out above in
terms of paragraph 3.66 of the JSE Listings Requirements.


Furthermore, and in compliance with paragraphs 3.63 to 3.66 of the JSE Listings
Requirements, Sasol hereby also announces that the undermentioned directors of major
subsidiaries of Sasol were granted a special retention Long-Term Incentive (LTI) award on
30 October 2019.

The Remuneration Committee made the special retention LTI awards after the Board of
Directors took a decision not to pay short-term incentive awards in cash under its FY19
short-term incentive (STI) plan despite the achievement of STI targets. The retention of key
employees during the next few years is a critical imperative for the Group. More information
is available in Sasol’s remuneration report contained in the annual financial statements for
the year ended 30 June 2019.

 Award date:                          30 October 2019
 Deemed acceptance date:              11 November 2019
 Vesting periods:                     100% after 3 years
 Class of securities:                 Sasol ordinary shares
 Nature of transaction:               Special retention LTI Award (off-market)
 Market value per share*              R298,76
 Nature and extent of interest:       Direct beneficial

    Surname and                 Designation               Company                                        Number       Total value of
    initials                                                                                                 of                  the
                                                                                                         shares          transaction
                                                                                                                             (ZAR)**
    Brenda Baijnath             Director                  Sasol South Africa                              4 341         1 296 917,16
                                                          Limited
    Thabiet Booley              Director                  Sasol South Africa                              5 464         1 632 424,64
                                                          Limited
                                Director                  Sasol Oil (Pty) Ltd
    Edward Cameron              Director                  Sasol Oil (Pty) Ltd                             6 580         1 965 840,80
    Gosiame Lorato              Director                  Sasol Oil (Pty) Ltd                             2 955           882 835,80
    Khoele
    Rightwell                   Director                  Sasol South Africa                              5 343         1 596 274,68
    Mzimkhulu Laxa                                        Limited
    Ndiitwani Grace             Director                  Sasol South Africa                              3 102           926 753,52
    Nndwammbi                                             Limited
                                Director                  Sasol Oil (Pty) Ltd
    Martin Sebastian            Director                  Sasol South Africa                              4 259         1 272 418,84
    Solomon                                               Limited
    Nina Stofberg               Director                  Sasol Chemicals (USA)                           2 731           815 913,56
                                                          LLC

    Award date:                                           30 October 2019
    Deemed acceptance date:                               11 November 2019
    Vesting periods:                                      100% after 3 years
    Class of securities:                                  Sasol American Depository Receipts (ADRs)
    Nature of transaction:                                Special retention LTI Award (off-market)
    Market value per share*                               US$20,23
    Nature and extent of interest:                        Direct beneficial

    Surname and                   Designation             Company                                      Number            Total value
    initials                                                                                              of                  of the
                                                                                                       shares            transaction
                                                                                                                             (US$)**
    Eric Stouder                  Director                Sasol South Africa Limited                    6 708             135 702,84
    Michael Thomas                Director                Sasol (USA) Corporation                       4 254              86 058,42

The necessary clearance to deal has been obtained for all the transactions set out above in
terms of paragraph 3.66 of the JSE Listings Requirements.

1
  A further announcement will be made if any participant declines an award
2
  On appointment award
* Strike price per share is nil. The Price per share indicated is the closing price of the Sasol ordinary share / ADR on 29 October 2019, the
day before the grant was made (R298,76, in the case of Sasol ordinary shares and US$20,23, in the case of ADRs) which was used to
calculate the number of shares / ADRs.
** The total transaction value is the Price per share multiplied by the number of Sasol ordinary shares / ADRs awarded. The final gain to
the employee will be subject to the conditions of the award being achieved as well as the share price on the vesting date.


31 October 2019
Sandton

Sponsor: Merrill Lynch South Africa Proprietary Limited

Date: 31/10/2019 04:01:00
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