To view the PDF file, sign up for a MySharenet subscription.

SASOL LIMITED - Grant & Acceptance of Share Awards by Directors, Prescribed Officers, Company Secretary & Directors of Major Subs

Release Date: 27/09/2021 16:24
Code(s): SOL SOLBE1     PDF:  
Wrap Text
Grant & Acceptance of Share Awards by Directors, Prescribed Officers, Company Secretary & Directors of Major Subs

Sasol Limited
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes:       JSE: SOL                         NYSE: SSL
Sasol Ordinary ISIN codes:        ZAE000006896                     US8038663006
Sasol BEE Ordinary Share code: JSE: SOLBE1
Sasol BEE Ordinary ISIN code: ZAE000151817
(“Sasol” or “Company”)

GRANT AND ACCEPTANCE OF SHARE AWARDS BY DIRECTORS, PRESCRIBED
OFFICERS AND THE COMPANY SECRETARY OF SASOL LIMITED AND DIRECTORS
OF MAJOR SUBSIDIARIES OF SASOL LIMITED

In compliance with paragraphs 3.63 to 3.66 of the JSE Listings Requirements, Sasol hereby
announces that executive directors, prescribed officers and the company secretary of
Sasol, and directors of major subsidiaries of Sasol, have been granted, and have accepted,
conditional share awards in terms of the Sasol Long-Term Incentive (“LTI”) Plan (“the
Plan”).

The Board of Sasol Limited or the Sasol Remuneration Committee (“the Committee”), as
appropriate, approved the following annual share awards made on 27 September 2021 in
accordance with the rules of the Plan.

The vesting of the awards will be subject to service conditions and, on performance shares,
the achievement of the following corporate performance targets:

                         FY22 | Performance period from 1 July 2021 – 30 June 2024
      KPI (Key
                                                                                                   STRETCH TARGET
    Performance       WEIGHTING       THRESHOLD (0%)                  TARGET (100%)
                                                                                                       (200%)
     Indicator)

Holistic focus on       25%       Achieve a sustainable 3%       Achieve a 3.8% reduction       Achieve a 4.5% reduction
ESG                               reduction                      (equating to 2.36mtpa          (equating to 2.78mtpa
Matters                           (equating to 1.8mtpa           CO2e) in Scope 1 and           CO2e) in Scope 1 and
                                  CO2e) in Scope 1 and           Scope 2 emissions off a        Scope 2 emissions of a
                                  Scope 2 emissions off a        2017 baseline by end FY24      2017 baseline by end FY24
                                  2017 baseline by end           for the Energy business        for the Energy business
                                  FY24 for the Energy            (10%)                          (20%)
                                  business (4%)


                                  40% RE power for Sasol         60% RE power for Sasol         80% RE power for
                                  Chemical operations in         Chemical operations in         Chemical operations in
                                  Europe and Americas by         Europe and Americas by         Europe and Americas by
                                  end FY24 (3%)                  end FY24 (8%)                  end FY24 (16%)

                                  Within 10% of the DJSI         Within 6% of the DJSI          Within 3% of the DJSI
                                  inclusion score by             inclusion score by             inclusion score by
                                  November 2023 (3%)             November 2023 (7%)             November 2023 (14%)


Return on Invested      25%       ROIC (excl AUC) at SA          ROIC (excl AUC) at SA          ROIC (excl AUC) at SA
Capital                           WACC of 13,5% per              WACC of 13,5% +1% =            WACC of 13,5% +2% =
                                  annum                          14,5% per annum                15,5% per annum
                                  (0%)                           (15%)                          (30%)
                                           
                        25%       ROIC (excl AUC) at US          ROIC (excl AUC) at US          ROIC (excl AUC) at US
                                  WACC of 8% per annum           WACC of 8% +0,5% =             WACC of 8% +1% = 9%
                                  (0%)                           8,5% per annum (10%)           per annum (20%)
                                  

Relative TSR            25%       50th percentile of the index   60th percentile of the index   75th percentile of the index
measured against                  (12,5%)                        (25%)                          (50%)
the peer group                                  
 

All prescribed officers and executive directors of Sasol must meet minimum shareholding
requirements.

In terms of the rules of the Plan, the participants have to decline such an award within ten
business days after the award date, failing which the award will be deemed to have been
accepted.

The rules of the Plan are available on the Sasol website at www.sasol.com.

The following awards have been made to prescribed officers and directors of Sasol and
major subsidiaries:

 Award date:                                              27 September 2021
 Acceptance date:                                         08 October 2021
 Vesting periods:                                         In respect of performance shares (65% of the award):
                                                          50% after 3 years and the balance after 5 years
                                                          In respect of time restricted shares (35% of the award):
                                                          100% after 5 years
 Class of securities:                                     Sasol ordinary shares
 Nature of transaction:                                   Annual LTI Award (off-market)
 Price per share:1                                        R249.12
 Nature and extent of interest:                           Direct beneficial

 Surname and                 Company and designation                                            Number          Total value of
 initials                                                                                         of           the transaction
                                                                                                shares              (ZAR)2
 Brand, H C                  Sasol Limited: Prescribed officer                                   26 933           6 709 871.65
 Grobler, F R                Sasol Limited: Director                                             63 221          15 749 752.19
 Kahla, V D                  Sasol Limited: Director                                             32 160           8 012 115.73
                             Sasol South Africa Limited: Director
                             Sasol Oil (Pty) Ltd: Director
 Klingenberg, B E            Sasol Limited: Prescribed officer                                     37 487          9 338 879.05
                             Sasol Chemicals (USA) LLC: Director
                             Sasol Oil (Pty) Ltd: Director
 Mabelane, B P               Sasol Limited: Prescribed officer                                     32 010          7 974 655.78
                             Sasol Oil (Pty) Ltd: Director
 Mokoena, C K                Sasol Limited: Prescribed officer                                     26 418          6 581 372.67
                             Sasol South Africa Limited: Director
                             Sasol Oil (Pty) Ltd: Director
 Victor, P                   Sasol Limited: Director                                               40 957         10 203 409.29

Note 1 Strike price per share is nil. The shares were awarded at R249.12 being the closing price on 23 September 2021.
Note 2 The total transaction value is the price per share multiplied by the number of Sasol ordinary shares / ADRs awarded.


 Award date:                                              27 September 2021
 Acceptance date:                                         08 October 2021
 Vesting periods:                                         In respect of performance shares (65% of the award):
                                                          50% after 3 years and the balance after 5 years
                                                          In respect of time restricted shares (35% of the award):
                                                          100% after 5 years
 Class of securities:                                     Sasol American Depository Receipts (ADRs)
 Nature of transaction:                                   Annual LTI Award (off-market)
 Price per ADR:1                                          US$16.52
 Nature and extent of interest:                           Direct beneficial
 Surname and               Company and designation                                              Number          Total value of
 initials                                                                                         of           the transaction
                                                                                                shares              (USD)2
 Griffith, B V             Sasol Limited: Prescribed officer                                     35 267              582 617.90

Note 1 Strike price per share is nil. The shares were awarded at US$16.52 being the closing price on 24 September 2021.
Note 2 The total transaction value is the price per share multiplied by the number of Sasol ordinary shares / ADRs awarded.


The following annual share awards have been made to directors and the company
secretary of major subsidiaries of Sasol Limited:

 Award date:                                              27 September 2021
 Acceptance date:                                         08 October 2021
 Vesting periods:                                         50% after 3 years and the balance after 5 years 2
                                                          100% after 3 years 3
                                                          25% - 30% of the award is subject to the achievement
                                                          of corporate performance targets to be achieved over
                                                          the 3-year performance period
 Class of securities:                                     Sasol ordinary shares
 Nature of transaction:                                   Annual LTI Award (off-market)
 Price per share:1                                        R249.12
 Nature and extent of interest:                           Direct beneficial

 Surname and               Company and designation                                              Number          Total value of
 initials                                                                                         of           the transaction
                                                                                                shares              (ZAR)4
 Baijnath, B2              Sasol South Africa Limited: Director                                  10 786           2 687 127.08
                           Sasol Oil (Pty) Ltd: Director
 Booley, T2                Sasol South Africa Limited: Director                                    10 796          2 689 624.41
 Du Toit, M3               Sasol Limited: Company Secretary                                         6 221          1 549 933.81
                           Sasol South Africa Limited: Company Secretary
 Khoele, G L3              Sasol Oil (Pty) Ltd: Director                                            5 479          1 365 131.39
 Laxa, R M2                Sasol South Africa Limited: Director                                    11 053          2 753 646.87
 Mokomela, D T3            Sasol South Africa Limited: Director                                     5 527          1 376 936.95
 Nndwammbi, N              Sasol South Africa Limited: Director                                     9 242          2 302 538.26
 G2                        Sasol Oil (Pty) Ltd: Director
 Powys, M L3               Sasol Oil (Pty) Ltd: Director                                            4 430          1 103 819.86
 Stofberg, N3              Sasol Chemicals (USA) LLC: Director                                      7 543          1 879 354.34
 Vilakazi, P M3            Sasol Oil (Pty) Ltd: Director                                            8 322          2 073 237.96
                           Sasol South Africa Limited: Director

Note 1 Strike price per share is nil. The shares were awarded at R249.12 being the closing price on 23 September 2021.
Note 4 The total transaction value is the price per share multiplied by the number of Sasol ordinary shares / ADRs awarded.

 Award date:                                              27 September 2021
 Acceptance date:                                         08 October 2021
 Vesting periods:                                         50% after 3 years and the balance after 5 years
                                                          30% of the award is subject to the achievement of
                                                          corporate performance targets to be achieved over the
                                                          3 year performance period
 Class of securities:                                     Sasol American Depository Receipts (ADRs)
 Nature of transaction:                                   Annual LTI Award (off-market)
 Price per ADR1                                           US$16.52
 Nature and extent of interest:                           Direct beneficial

 Surname and               Company and designation                                              Number          Total value of
 initials                                                                                         of           the transaction
                                                                                                shares              (USD)2
 Stouder, E                Sasol Chemicals (USA) LLC: Director                                   14 092              232 802.80

Note 1 Strike price per share is nil. The shares were awarded at US$16.52 being the closing price on 24 September 2021.
Note 2 The total transaction value is the price per share multiplied by the number of Sasol ordinary shares / ADRs awarded.


Clearance to deal has been obtained for all the transactions set out above in terms of
paragraph 3.66 of the JSE Listings Requirements.

27 September 2021
Sandton

Sponsor: Merrill Lynch South Africa (Pty) Limited t/a BofA Securities

Date: 27-09-2021 04:24:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story