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Sasol exercises compulsory acquisition
Sasol has acquired more than 90% of Polifin's shares, and in terms of Section 440k, has given notice to compulsory acquire the remaining shares by shareholders who did not accept the offer. The remaining shareholders are required to surrender their shares on the same terms and conditions of the offer. If these shareholders do not surrender their documents on time, their shares will be held in trust by Polifin for the benefit of shareholders and no interest will be paid once compulsory acquired.
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Sasol enters into negotiations
Sasol, Petronas and Total South Africa Ltd has announced that they have entered into negotiations to explore possibilities of co-operation in the refining of crude oil and business supplies. The parties have signed a memorandum of understanding on 14 Sep 99 which governs these discussions. This memorandum allows for the commencement of negotiations and these negotiations are expected to be concluded before Dec 99 and may effect the share price of Sasol.
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Sasol acquires AECI's stake in Polifin
AECI shareholders have approved the sale of Polifin for R2.1bn to Sasol. Sasol initially owned 51% , and with AECI's 40% stake, will boost Sasol's share to 91% of shareholders approving the deal. The sale of Polifin still requires minority shareholders to accept Sasol's offer of 970cps which expires on 16 Sep 99.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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