Adriaan Kruger
4 minute read
4 Nov 2020
8:14 am

Sasol sell-off no cause for worry

Adriaan Kruger

The directors who sold 48% will use the proceeds to pay the Sars and will effectively remain fully invested in Sasol.

Image for illustration. Picture: Facebook.

While most of the Sasol directors who received shares in terms of the company’s annual long-term incentive award elected to sell only enough shares to cover the income tax levied on this part of their compensation, a few sold all their shares immediately, according to the figures contained in a formal announcement on October 12. The net result of the sales is that the directors sold nearly 64% of the shares they received in a bulk sale facilitated by the company. Just more than 65 000 shares were issued to 14 directors and senior managers who are obliged under JSE regulations to...