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SOL SOLBE1
SOL
SOL - Sasol Limited - Sasol announces the completion of the Acquisition of a 50%
participation interest in the Montney Shale Basin in Canada
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 "the Company")
SASOL ANNOUNCES THE COMPLETION OF THE ACQUISITION OF A 50% PARTICIPATION
INTEREST IN THE MONTNEY SHALE BASIN IN CANADA
Shareholders of Sasol are referred to the SENS announcement released on 20
December 2010 regarding the proposed acquisition by Sasol of a 50% strategic
interest in the high quality Farrell Creek Assets from Talisman Energy Inc. for
a total purchase consideration of CAD$1 050 million (ZAR7 549 million at the
closing CAD/ZAR exchange rate of 7,19 on 28 February 2011) with effect from 1
January 2011 (the "Transaction").
The Transaction was subject to various suspensive conditions referred to in the
announcement released on SENS on 20 December 2010. Sasol shareholders are
advised that all the suspensive conditions to the Transaction have been
fulfilled and that the Transaction closed on 1 March 2011 ("the closing date").
The final aggregate consideration amounts to CAD$1 025 million (ZAR7 369 million
at the closing CAD/ZAR exchange rate of 7,19 on 28 February 2011) and comprises
an initial purchase price for the Farrell Creek Assets of CAD$237 million (ZAR1
704 million), which was paid in cash on the closing date, and CAD$788 million
(ZAR5 665 million) in the form of a commitment to fund 75% of Talisman`s 50%
portion of certain future development costs to further develop the Farrell Creek
Assets until such time that the aggregate purchase consideration has been paid
in full.
Johannesburg
2 March 2011
Exclusive Financial advisor
Morgan Stanley & Co
Legal advisor
Fraser, Milner & Casgrain
Sponsor
Deutsche Securities (SA) (Pty) Limited
Morgan Stanley & Co and its affiliates are acting as independent financial
advisor to Sasol Limited and no one else in connection with the transaction and
will not be responsible to anyone other than Sasol Limited for providing the
protections afforded to the clients of Morgan Stanley & Co nor for providing
advice in relation to the transaction, the contents of this announcement or any
other matter referred to herein.
Date: 02/03/2011 07:05:27 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS. |
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