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SOL
SOL
SOL - Sasol Limited - Results of the Annual General Meeting and General Meeting
of Sasol Held on 26 November 2010
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")
RESULTS OF THE ANNUAL GENERAL MEETING AND GENERAL MEETING OF SASOL HELD ON
26 NOVEMBER 2010
Sasol shareholders are advised that the results of the business conducted at the
annual general meeting and general meeting, held immediately after the
conclusion of the annual general meeting on Friday 26 November 2010 in Hyde
Park, Johannesburg, South Africa (including the percentage of total number of
shares voted) are as follows:
Annual general meeting
1.1. The annual financial statements of the Company, including the reports of
the directors, audit committee and auditors for the year ended 30 June 2010 were
accepted and adopted.
1.2. Mr L P A Davies, Dr M S V Gantsho, Mrs T H Nyasulu and Ms K C Ramon retired
by rotation at the meeting and were re-elected individually for a further term
of office in terms of Articles 75(d) and 75(e) of the Company`s Articles of
Association ("Sasol`s Articles"):
Directors For Against Abstain
L P A Davies 99.75% 0.13% 0.12%
M S V Gantsho 99.83% 0.05% 0.12%
T H Nyasulu 99.08% 0.80% 0.12%
K C Ramon 99.75% 0.13% 0.12%
Mr A Jain retired as a non-executive director of the Company with effect from
today, 26 November 2010. Messrs B P Connellan and T A Wixley will retire as
non-executive directors of the Company with effect from 1 January 2011.
1.3. The two directors appointed by the board of directors of Sasol ("the
Board") during the course of the calendar year, Mss V N Fakude and I N Mkhize
retired at the annual general meeting, but were elected individually for a
further term of office in terms of Article 75(i) of Sasol`s Articles:
Directors For Against Abstain
V N Fakude 98.19% 1.69% 0.12%
I N Mkhize 98.19% 1.69% 0.12%
1.4. The director appointed by the Board during the course of the calendar year,
Mr G A Lewin retired at the annual general meeting, but was elected for a
further term of office in terms of Sasol`s Articles:
Directors For Against Abstain
G A Lewin 99.83% 0.05% 0.12%
1.5. KPMG Incorporated was automatically re-appointed as auditors of the Company
until the conclusion of the next annual general meeting and it was noted that
the Mr C H Basson would be the individual registered auditor who will undertake
the audit of the Company for the financial year ending 30 June 2011.
1.6. Special Resolution number 1 to authorise the directors of the Company, in
terms of the authority granted in Article 36(a) of Sasol`s Articles, to approve
the general repurchase by the Company, or by any of its subsidiaries, of the
Company`s ordinary shares, subject to the provisions of the Companies Act of
1973, as amended, and subject to the rules and requirements of the JSE Listings
Requirements, was approved:
For Against Abstain
99.72% 0.01% 0.26%
1.7. Special Resolution number 2 to amend Sasol`s Articles by the insertion of a
new article 86(i) to enable the directors of the Company to remove a director by
majority vote as recommended by the King Code of Governance principles for South
Africa, was approved:
For Against Abstain
99.75% 0.15% 0.10%
1.8. Ordinary Resolution number 1 to obtain a non-binding advisory vote by
shareholders on the Company`s remuneration policy for the year ending
30 June 2011 as contained in the annual financial statements was approved:
For Against Abstain
94.01% 5.89% 0.10%
1.9. Ordinary Resolution number 2 approving the revised annual emoluments
payable by the Company or subsidiaries of the Company with effect from
1 July 2010 to non-executive directors of the Company was approved:
For Against Abstain
93.36% 6.53% 0.10%
General meeting
2.1. Special Resolution number 1 amending Sasol`s Articles to provide for the
insertion of new definitions was approved:
For Against Abstain
99.79% 0.02% 0.19%
2.2. Special Resolution number 2 amending Sasol`s Articles to provide for the
bulk dematerialisation of Sasol BEE Ordinary Shares ("Bulk Dematerialisation")
was approved:
For Against Abstain
99.80% 0.02% 0.18%
2.3. Special Resolution number 3 amending Sasol`s Articles to provide for the
continued application of the contracts currently applicable in respect of Sasol
BEE Ordinary Shares that are not dematerialised pursuant to the Bulk
Dematerialisation, was approved:
For Against Abstain
99.75% 0.02% 0.24%
2.4. Ordinary Resolution number 1 authorising the Transfers Secretaries to
replace the share certificates of those Sasol Shareholders who elect to continue
to hold their Sasol BEE Ordinary Shares in certificated form and to issue
instead new share certificates reflecting the new alpha code and International
Securities Identification Number was approved:
For Against Abstain
99.86% 0.02% 0.12%
2.5. Special Resolution number 4 amending Sasol`s Articles to incorporate those
terms specific to the Sasol BEE Ordinary Shares which will form part of and must
be read as if contained in the generic BEE contract applicable to shares listed
on the proposed BEE Segment of the exchange operated by JSE Limited ("JSE")
("the BEE Segment"), was approved:
For Against Abstain
99.74% 0.02% 0.25%
2.6. Special Resolution number 5 amending Sasol`s Articles to revise the rights,
privileges and restrictions applicable to the Sasol BEE Ordinary Shares so as to
allow the holding of such shares either in certificated or dematerialised form
and to take account of the listing on the proposed BEE Segment, was approved:
For Against Abstain
99.92% 0.02% 0.07%
2.7. Special Resolution number 6 amending Sasol`s Articles to provide for the
contracts applicable to holders of Sasol BEE Ordinary Shares depending on
whether they hold their shares in certificated or dematerialised form and
granting the necessary authorities to enable dematerialisation to occur, was
approved:
For Against Abstain
99.92% 0.02% 0.07%
2.8. Special Resolution number 7 amending Sasol`s Articles to provide for the
limited circumstances in which the Company will be entitled to delist the Sasol
BEE Ordinary Shares from the BEE Segment without shareholder approval, provided
that it puts in place an alternative trading mechanism and provided further that
the JSE Listing Requirements so provide at the time, was approved:
For Against Abstain
99.79% 0.02% 0.19%
2.9. Special Resolution number 8 amending Sasol`s Articles to permit the release
by a Central Securities Depository Participant, broker and/or nominee company as
the case may be, of the contact details of any Sasol Shareholder to Sasol, was
approved:
For Against Abstain
99.91% 0.02% 0.07%
2.10. Special Resolution number 9 approving the potential granting of financial
assistance by the Company to the Sasol Inzalo Public Facilitation Trust to
acquire Sasol BEE Ordinary Shares in certain cases mainly related to breaches of
the contracts applicable to the Sasol BEE Ordinary Shares, was approved:
For Against Abstain
99.60% 0.26% 0.14%
The special resolutions will be lodged with the Companies and Intellectual
Property Registration Office for registration.
Sasol elected to convene the general meeting knowing that the proposed
amendments to the JSE`s rules and requirements and the proposed amendments to
the Strate rules and directives ("Proposed New Requirements") have not yet been
formally approved and understanding that as a result, if there are material
changes, the JSE may request Sasol to issue a supplementary circular or
additional announcement/s. Sasol also appreciates that until the Proposed New
Requirements are approved, legally the JSE cannot approve the listing of the
Sasol BEE Ordinary Shares on the BEE Segment. However, the JSE has indicated
that it has no reason at this time to consider that there will be material
changes to the Proposed New Requirements, and if there are no such changes, it
will after the Proposed New Requirements have come into force, approve the
listing of the Sasol BEE Ordinary Shares on the BEE Segment.
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 Requirements are formally approved.
26 November 2010
Johannesburg
Financial Adviser and Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Attorneys
Edward Nathan Sonnenbergs Inc.
Transfer Secretaries
Computershare Investor Services (Proprietary) Limited
Date: 26/11/2010 13:06:38 Produced by the JSE SENS Department.
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