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September 2, 2008

300 000 ordinary SA citizens to become Sasol shareholders next week Video Available

In South Africa's largest-ever broad-based black economic-empowerment (BBBEE) deal, worth some R24-billion, petrochemicals giant Sasol, would on September 8, welcome about 300 000 ordinary South Africans as shareholders of the company.

In May, Sasol invited members of the South African black public to apply for up to 2 838 564 Sasol BEE ordinary shares (known as the cash invitation), and simultaneously, Sasol Inzalo, which at the time was a wholly-owned subsidiary of Sasol, invited members of the black public to apply for up to 16 085 200 Sasol Inzalo ordinary shares (known as the funded invitation). Together the new shareholders would hold a 4,5% stake in the group.

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Posted by StaffWriter at September 2, 2008 7:21 AM