Sasol Inzalo BEE investment scheme is about to come to an end. It will be succeeded by the Sasol Khanyisa chapter.
Affected investors will need to be cautious of certain critical dates some of which require action. Here follows an outline of these dates and a graphical illustration.
SOLBE1 and Invitation 1
For Sasol BEE Ordinary (SOLBE1) shareholders, the decision time kicks in first and soon.
6 February 2018: This will be SOLBE1 last day to trade before the opening of the option to either convert into Sasol Group shares or retain SOLBE1 shares. See the options in this article.
9 February 2018: SOLBE1 Record Date. On this day the record of SOLBE1 shares that are eligible for the option will be determined. Only shares that before February 6 are eligible for the election. The election option will be void for SOLBE1 shares traded between 7 – 9 February 2018 and the affected SOLBE1 shares will redesignate to Sasol Group ordinary shares. This simply means, if you buy SOLBE1 shares on the 7th or 8th of February you don’t qualify for the retention option that earns the bonus offerings.
21 February 2018: Invitation 1 opens for SOLBE1 shareholders. Trading of these shares will be suspended from election date (not to redesignate) and recommences on 6 Apr 2018. This means that once you have made your election you can’t trade these shares until the 6th of April.
5 April 2O18: SOLBE1 Automatic Redesignation Date. This means SOLBE1 shares of investors that did not make an election will automatically convert to Sasol Group ordinary shares.
6 April 2018: Record date for Invitation 2. SOLBE1 shareholders registered to be eligible participants in Sasol Khanyisa. SOLBE1 trading recommences.
15 April 2018: Finalise results of Invitation 1
Invitation 2 and Sasol Inzalo Public (SIPBEE) shares
3 April 2018: Last day to trade SIPBEE for Invitation 2
6 April 2018: Record date for Invitation 2
16 April 2018: Invitation 2 opens. SOLBE1 trading suspended from election date (not to participate) and recommences on 15 May 2018. SIPBEE trading suspended from election date (not to participate)
11 May 2018: Finalise results of Invitation 2
1 June 2018: Sasol Khanyisa effective date. Additional SOLBE1 shares issued. SIPBEE delisted from the JSE empowerment segment
8 September 2018: Sasol Inzalo Public final redemption date