News

Sasol Inzalo Public to distribute R1.3bn to its shareholders

Sasol media release

Sasol Inzalo Public (RF) Limited is pleased to announce that it will distribute over R1.3 billion to the Sasol Inzalo Public (SIPBEE) shareholders in the form of a cash payment on 17 September 2018. Each SIPBEE shareholder will receive R85,63 per share (less dividends withholding tax of 20%, if applicable).

On Friday, 7 September 2018 Sasol Limited repurchased 16.1 million Sasol preferred ordinary shares from Sasol Inzalo Public Funding (Pty) Ltd (Fundco) at R542,11 per share. A 30-day volume weighted average share price (as at 6 September 2018) was used to calculate the price for the Sasol preferred ordinary shares. The total price paid to Fundco was R8.7 billion.

Fundco repaid its outstanding Inzalo funding of R7.4 billion on Monday, 10 September 2018.

After repayment of the outstanding Inzalo funding, paying taxes and costs, there is a cash surplus of over R1.3 billion (net of dividends withholding tax, if applicable) which will be distributed to the SIPBEE shareholders on 17 September 2018.

This marks the end of the Sasol Inzalo transaction. Sasol Inzalo Public Limited (RF) will delist from the JSE on Tuesday, 18 September 2018.

Source: biznews.com

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