Sasol Limited has announced its proposed new Broad-Based Black Economic Empowerment (B-BBEE) ownership structure on 20 September, Sasol Khanyisa, which will be submitted for shareholder approval at the Sasol Limited AGM later this year.
Sasol Khanyisa is intended to achieve effective direct and indirect B-BBEE ownership of at least 25 per cent in Sasol South Africa, a wholly-owned subsidiary of Sasol, Ridge Times reported.
Through two invitations, eligible existing Sasol inzalo groups and public shareholders will receive bonus Sasol BEE ordinary shares (SOLBE1), that trade on the BEE segment of the JSE at no cost to them.
These bonus SOLBE1 and additional SOLBE1 shares issued to shareholders are tradeable from the date of issue, realising upfront and immediate value creation for shareholders.
– Caxton News Service