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Sasol adopts BEE Verification Agent Process for SOLBE1 shareholders

Date: 
04 March 2019

Johannesburg, South Africa – Sasol has adopted the BEE Verification Agent Process for purchasers of Sasol BEE ordinary (SOLBE1) shares with effect from 11 March 2019 that will simplify the process to verify their BEE compliance requirements. This follows the separate class meeting of SOLBE1 shareholders and the annual general meeting of Sasol ordinary shareholders on 16 November 2018, where Sasol obtained shareholder approval to adopt the BEE Verification Agent Process. Previously, SOLBE1 shareholders and prospective purchasers of SOLBE1 shares were required to follow the BEE Contract Verification Process to verify their BEE compliance which required them to sign a BEE Contract. The implementation of the BEE Verification Agent Process means that, with effect from 11 March 2019: 

  • all BEE Contracts entered into by SOLBE1 shareholders will terminate;
  • the rights and obligations of all SOLBE1 shareholders will be governed by the provisions of Schedule 6 of Sasol’s memorandum of incorporation; and
  • the signing of a BEE Contract by a prospective purchaser of SOLBE1 shares will no longer be required.
  • Sasol’s BEE Verification Agent is Computershare Investor Services (Pty) Limited.

A guide on the BEE Verification Agent process can be accessed here.
 

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