Employee component of Sasol Limited's proposed 10% broad-based BEE transaction

Date

14 September, 2007

Sasol would like to clarify the employee component of its proposed broad-based black economic empowerment (BEE) transaction.

"We have noted that the South African Department of Trade & Industry (dti) welcomes Sasol's proposed transaction, which will be the single largest BEE deal in the South African economy and that it has indicated that Sasol has adopted a long-term view to empowerment. We have confirmed with the dti that it is not adverse to the inclusion of white employees below managerial level in employee share ownership schemes (ESOPS)", says Sasol executive director Nolitha Fakude.

"From inception of the transaction, Sasol was fully aware that it could not include white employees in the calculation for credits under the dti’s Codes of Good Practice. The inclusion of white employees at lower levels is a common industry trend in a number of other large BEE transactions announced recently and we have engaged all our trade unions in this part of the transaction", says Fakude.

"We recognise that the dti’s Codes are aimed at benefiting black people who were not involved in the mainstream economy. We have designed our proposed transaction in the spirit of these Codes. The intention is that as many black South Africans as feasibly possible, most of whom have never owned shares before, will become shareholders in Sasol", says Fakude. "With this deal, participation of both our black and white employees, at below managerial level, is something that we consciously embarked on. Share ownership for all employees is important for us."

"After excluding the white employees, the percentage of black shareholding, according to the points determined by the dti Codes, still remains within our targeted range", adds Fakude.

The proposed BEE transaction, which is currently valued at more than R18 billion, entails the proposed sale of 10% in Sasol Limited to four groupings:

South African black public (3%)
Selected BEE groups (1,5%)
Sasol employees, with permanent South African residence, below managerial level (comprising 60% black and 40% white employees); black managers; and black non-executive directors (4%).
Sasol Foundation (1,5%).

Almost 27 000 black and white Sasol employees, below managerial level, will participate through an employee share ownership scheme. These employees will be allocated an equal number of shares. The scheme will benefit from a 3,7% of the issued share capital of Sasol of which (at current employment ratios) 2,2% relates to black employees and 1,5% to white employees. For Sasol, the participation of employees below managerial level; together with black South African managers and non-executive directors is an important component in this transaction. Their involvement is intended to broaden employee ownership in Sasol and to spread a significant proportion of the BEE transaction among individuals who are key to the sustained success of the company.

Throughout this process, Sasol will continue to have close dialogue with the dti and other stakeholders in finalising this transaction, which will only be implemented in 2008. Details of the BEE transaction were announced on 10 September through the "first terms" announcement, which is available on www.sasol.com

Total Stores	Division	Store Location	Address	Tel No
1	Relabelled	Salt River	29 Brickfield Road, Salt River, Cape Town	(021)4479913
2	Relabelled	Bellville	Shop 4, Corner Voortrekker Rd & Durban RD, Bellville	(021)9171860
3	Relabelled	Kenilworth	Unit number 3 access park, Chichester road, Kenilworth	(021)6714778,
4	Relabelled	Kuilsrivier	Shop 4 & 5 Access Park, Kuilsrivier	(021)9031294 061 287 3980
5	Relabelled	Mobeni	Cnr Grimsby & Leicester Rd, Mobeni, Durban	(031)4620540 W\House (031) 469 9409
6	Relabelled	Pier 14	21A Pier 14, Shopping Centre, Port Elizabeth	(041)4841575 083 5176 728
7	Relabelled	Marlboro	13 Sparten Crescent ,Marlboro , Ext 3 Johannesburg	(011) 262 0460
8	Relabelled	Soweto	Maponya Shop 200 2127 Chris hani Road, klipspruit ext5 Soweto	(011) 933 1023
9	Relabelled	Umlazi	Shop 155 Umlazi Mega City 50 Griffiths Mxenge Highway Umlazi	(031) 902 1325
10	Relabelled	Epping	10 Losack avenue , epping industrial	(021) 534 0401
1	BCWC	Kloof	Lifes on Kloof, 50 Kloof Street, Gardens ,Cape Town, shop G-15	(021) 422 1593 078 211 8051
2	BCWC	Canal Walk	Shop 619 Canal Walk , Century BLVD, Century City , Cape Town 7441	(021) 551 2891
3	BCWC	Monte Casino	Shop 80B Montecasino, No1 Monticasino Bouelvard Fourways , 2191 Magents	(011) 465 0438
4	BCWC	Menlyn	Shop UF 42 & 43 cnr atterbury road & lois avenue , menlo park , Pretoria	(012) 764 9600
5	BCWC	Balito	SHOP 608 LEONORA DRIVE,DOLPHIN COAST,BALLITO,4399	032 586 0242
6	BCWC	Rosebank	Shop GF08, The Zone, Rosebank mall, Oxford Street, Johannesburg	(011)268 1114
1	Magents	Canal Walk	Shop 08 , Century Blvd , Century City 7441	(021) 551 2533 JP CELL: 064 686 4026
2	Magents	Monte Casino	Shop 21 Montecasino, No1 Monticasino Bouelvard Fourways , 2191 Magents	(011) 465 6721 074 669 6310 073 804 4352 079 884 7607
3	Magents	Menlyn	MENLYN MALL , SHOP G190 CNR ATTERBURY ROAD & LOIS AVENUE,MENLO PARK,PRETORIA	(012) 348 4725 073 8677 468 - Sieya , kiley , OUPA, Micheal
4	Magents	Balito	SHOP 608 LEONORA DRIVE,DOLPHIN COAST,BALLITO,4399	061 521 7446 032 586 1467
1	WSA	Menlyn	MENLYN MALL ,LF41A CNR ATTERBURY ROAD & LOIS AVENUE,MENLO PARK,PRETORIA	Vicky - 078 816 1921 land line - 012 348 4766
6	BCWC	Rosebank	Shop GF08, The Zone, Rosebank mall, Oxford Street, Johannesburg	(011)268 1114
1	Magents	Canal Walk	Shop 08 , Century Blvd , Century City 7441	(021) 551 2533 JP CELL: 064 686 4026
2	Magents	Monte Casino	Shop 21 Montecasino, No1 Monticasino Bouelvard Fourways , 2191 Magents	(011) 465 6721 074 669 6310 073 804 4352 079 884 7607
3	Magents	Menlyn	MENLYN MALL , SHOP G190 CNR ATTERBURY ROAD & LOIS AVENUE,MENLO PARK,PRETORIA	(012) 348 4725 073 8677 468 - Sieya , kiley , OUPA, Micheal
4	Magents	Balito	SHOP 608 LEONORA DRIVE,DOLPHIN COAST,BALLITO,4399	061 521 7446 032 586 1467
1	WSA	Menlyn	MENLYN MALL ,LF41A CNR ATTERBURY ROAD & LOIS AVENUE,MENLO PARK,PRETORIA	Vicky - 078 816 1921 land line - 012 348 4766

Overview

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Employee component of Sasol Limited's proposed 10% broad-based BEE transaction

Employee component of Sasol Limited's proposed 10% broad-based BEE transaction

Overview

Overview

Overview

Overview

Overview

Overview

Overview

Employee component of Sasol Limited&#039;s proposed 10% broad-based BEE transaction

Employee component of Sasol Limited's proposed 10% broad-based BEE transaction

Employee component of Sasol Limited's proposed 10% broad-based BEE transaction

Employee component of Sasol Limited's proposed 10% broad-based BEE transaction