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Sasol -- replacement announcement
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 Ltd (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.
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.
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.
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.
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).
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Sasol listing of BEE shares
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 Ltd (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 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.
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.
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