Sasol Inzalo Public to distribute over R1,3 billion to its shareholders
Fundco repaid its outstanding Inzalo funding of R7,4 billion.
HIGHVELD – Sasol Inzalo Public (RF) Limited has announced that it would have distributed over R1,3 billion to Sasol Inzalo Public (SIPBEE) shareholders in the form of a cash payment on Monday, 17 September.
Each SIPBEE shareholder will receive R85,63 per share less dividends withholding tax of 20 per cent, if applicable.
Sasol Limited repurchased 16,1 million Sasol preferred ordinary shares from Sasol Inzalo Public Funding (Pty) Ltd (Fundco) at R542-11 per share on Friday, 7 September.
A 30-day volume weighted average share price on 6 September 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 10 September.
After repayment of the outstanding Inzalo funding, paying taxes and costs, there was a cash surplus of over R1,3 billion net of dividends withholding tax, if applicable, which would have been distributed to the SIPBEE shareholders on 17 September.
This marked the end of the Sasol Inzalo transaction. Sasol Inzalo Public Limited (RF) would have delisted from the JSE on 18 September.
Contact Computershare at sasolinzalo@computershare.co.za or call 0800 000 222 toll-free (South African calls) and +27(0)11 370 7700 (international calls).
