Repurchase of sasol shares by sasol from the sasol inzalo employee scheme and the sasol inzalo management scheme (collectively “inzalo employee schemes”)

REPURCHASE OF SASOL SHARES BY SASOL FROM THE SASOL INZALO EMPLOYEE SCHEME AND THE SASOL INZALO MANAGEMENT SCHEME (COLLECTIVELY “INZALO EMPLOYEE SCHEMES”)

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“)

 

REPURCHASE OF SASOL SHARES BY SASOL FROM THE SASOL INZALO EMPLOYEE SCHEME AND THE SASOL INZALO MANAGEMENT SCHEME (COLLECTIVELY “INZALO EMPLOYEE SCHEMES”)

1. Resolutions in relation to the treatment of the Sasol ordinary shares (SOL Shares) held by the Inzalo Employee Schemes at the end of these schemes were passed at a general meeting of ordinary shareholders of Sasol held on 16 May 2008. In accordance with these resolutions and depending on the SOL Share price prior to the end of the Inzalo Employee Schemes on 4 June 2018, Sasol was entitled to repurchase some or all of the SOL Shares held by the Inzalo Employee Scheme trusts in accordance with the provisions of the Inzalo Employee Scheme trust deeds. The Inzalo Employee Scheme trusts together held 25 231 686 SOL Shares.
2. Sasol exercised its rights of repurchase under the Inzalo Employee Schemes trust deeds on 4 June 2018 by repurchasing 25 231 686 SOL Shares from the Inzalo Employee Schemes, at a nominal value of R0,01 per share (the Specific Repurchase). Accordingly, the Inzalo Employee Schemes ceased to hold any SOL Shares and consequently the relevant vested participants in the Inzalo Employee Schemes will receive no distribution of SOL Shares.
3. The effect of the Specific Repurchase is that SOL Shares representing 3,9% of Sasol’s total issued share capital before the Specific Repurchase, have been cancelled and restored to Sasol’s authorised ordinary share capital with effect from 4 June 2018. After the cancellation, Sasol will have 623 066 479 SOL Shares in issue.
4. Sasol has applied for the delisting of the SOL Shares from the JSE with effect from Thursday, 07 June 2018. The acquisition will have no financial effect on Sasol or its shareholders, other than in respect of Specific Repurchase costs that are normally incurred in transactions of this nature. The financial effect of the Specific Repurchase on Sasol’s earnings per share, headline earnings per share, net asset value per share and net tangible asset value per share will be confined to the cost of the sponsor fee, the legal fees, the taxes levied by the South African Revenue Services and the JSE documentation fee which are considered negligible. The Specific Repurchase has been funded out of Sasol’s existing reserves resulting in a reduction of contributed tax capital.

Sandton

5 June 2018

 

Sponsor

Deutsche Securities (SA) Proprietary Limited