2 years ago

African Petrochemicals Nov/Dec Edition 14.6 {2017}


SASOL KHANYISA APPROVED BY SASOL SHAREHOLDERS On the 17 November 2017 in Johannesburg, formal approval of Sasol Khanyisa, Sasol’s new R21 billion Broad-Based Black Economic Empowerment ownership structure, was granted by Sasol shareholders at a General Meeting that followed its Annual General Meeting of shareholders. Sasol Khanyisa will see 25% ownership of Sasol South Africa in the hands of Black South Africans. 10 “We are delighted with this outcome as it marks a significant milestone in Sasol’s transformation journey. Sasol Khanyisa will be implemented from June 2018 and we believe Sasol Khanyisa will realise sustainable and long-term value for Black South African shareholders,” said Bongani Nqwababa, Joint President and Chief Executive Officer of Sasol Limited. “We recognise that our valuable stakeholders have walked a significant journey with us, which will continue as we redefine our empowerment landscape and accelerate transformation across Sasol. Once Sasol Khanyisa is effective, our existing Sasol Inzalo shareholders will realise value creation on day two of Sasol Khanyisa next year,” said Stephen Cornell, Joint President and Chief Executive Officer of Sasol Limited. Sasol Khanyisa is intended to achieve effective direct and indirect B-BBEE ownership of at least 25% in Sasol South Africa, a wholly-owned subsidiary of Sasol. Sasol South Africa houses Sasol’s most cash generative assets, which include its synthetic fuels, chemicals and gas businesses. Through two invitations eligible existing Sasol inzalo Groups and Public shareholders will receive bonus Sasol BEE ordinary shares (SOLBE1), that trade on the BEE segment of the JSE, at no additional cost to them. These bonus SOLBE1 and additional SOLBE1 shares issued to shareholders are tradeable on 2 June 2018, realising upfront and immediate value creation for shareholders. Sasol Inzalo, which was created in 2008, comes to an end in 2018. Eligible participants in Sasol Khanyisa will comprise Sasol’s qualifying employees, existing Sasol Inzalo Public and Groups shareholders, and existing Black Sasol shareholders that own shares listed on the empowerment segment of the JSE. Black members of the public participated in Sasol Inzalo through 54 different groups. In addition, more than 200 000 members of the South African Black public participated in the Inzalo Public Funded element and Sasol Limited has more than 50 000 SOLBE1 shareholders. Approximately 23 000 Sasol employees participated in the Sasol Inzalo employee trusts. In February 2018, eligible participants will be invited to keep Sasol BEE Ordinary (SOLBE1) shares on the empowerment segment of the JSE, instead of converting to Sasol ordinary shares, and receive the following should they elect to keep the SOLBE1 designation: • Receive one bonus SOLBE1 share for every four SOLBE1 shares owned; and • Be invited to participate in Sasol Khanyisa. Thereafter, in April 2018, eligible Sasol BEE Ordinary shareholders (SOLBE1) and Sasol Inzalo Groups and Public funded shareholders will be invited to participate in Sasol Khanyisa and receive the following: • One Sasol Khanyisa Public share for every Sasol Inzalo share held; and • One Sasol BEE Ordinary share for every 10 Sasol Khanyisa Public shares held. These bonus SOLBE1 and additional SOLBE1 shares issued to shareholders are tradeable from the date of issue. At the end of the 10 year period and once the vendor funding has been settled, Sasol Khanyisa Public shares will be exchanged for SOLBE1 shares listed the empowerment segment of the JSE. This will lead to longlasting, unencumbered ownership of Sasol Limited by Black South Africans. Participants in the Sasol Khanyisa employee share ownership plan will receive a debt-free share grant of Sasol ordinary shares and Sasol shares listed on the empowerment segment of the JSE worth R100 000. These shares, subject to taxation, will become theirs to keep or sell at the end of a three-year period, in 2021. Participating employees will also receive a pro rata portion of dividends received by the Sasol Khanyisa trust during the three-year period. The Sasol Inzalo Foundation will be renamed and will continue as a public benefit organisation, driving excellence in science, technology, engineering and mathematics (STEM) education at all levels of the education value chain. The Sasol Inzalo Foundation benefitted over 20 million learners in South African public schools by way of 118 natural science, technology and mathematics school work books that were developed. In addition, more than 800 bursaries and fellowships have been awarded to students at 16 South African universities, to name but a few examples. Comprehensive additional information is available on our website:

SKY004.qxp_Layout 1 2017/10/24 3:17 PM Page 1 SPECIALISED INDUSTRIAL ELECTRONICS GHM Messtechnik South Africa supplies industrial electronics that meet the ever increasing requirements by industry for all systems and components involved in the production process. Their precision instrumentation reduces downtime whilst maximising process efficiencies. “The cost savings and associated competitive ability of our industrial electronics plays an important role when our customers are considering the modernisation of existing machinery or processes. We believe that GHM Messtechniek’s specialised instrumentation easily addresses these concerns as a result of our continued investment into state-of-theart research and development methodology and production processes” said Jan Grobler, Managing Director for GHM Messtechnik based in Alberton, The upcoming Industry 4.0 industry programme requires a deeper focus on better integration of customer requirements. Throughout the value chain process values in production processes will have to be combined without any loss of information that is relevant to users on site. Grobler added “Through in-depth knowledge of our customer’s ever evolving requirements, GHM Messtechnik constantly enhances its ranges of specialised industrial instrumentation in order to supply highly efficient devices and systems for the next industrial revolution”. Specialised Industrial Electronic Range The range of industrial electronics extends from process value detection to signal processing, display, control and regulation, to actuators for intervening in the process. The GHM Messtechnik range includes temperature measurement transducers, universal transmitters, universal isolating amplifiers, switch amplifiers, limit value switches and thermal limiters. All highly specialised, quality instruments with high accuracy performance. High operating efficiency is achieved through-out all areas of the product life cycle via: • space-saving assembly • quick and uncomplicated integration • short wiring times • simple commissioning without software • use of intuitively operated configuration software • clear process information for operators in order to minimise downtimes • fulfilment of necessary regulations such as EN 14597 or SIL • long service life “The quality of our instrumentation and their successful application across industries such as food and beverage, plant and machinery construction, industrial and laboratory furnace construction, oil and gas, ship construction, plastics, chemical and pharmaceutical is well documented. It is German precision, reliability and accuracy at its best” said Grobler. GHM Messtechnik SA is part of GHM Messtechnik GmbH, an amalgamation of globally renowned companies comprising: Greisinger Electronic, Honsberg Instruments, Martens Elektronik, Imtron, T & A (Telemetry & Automation), Delta Ohm (Italy) and Valco. Further information is available from: Jan Grobler Managing Director GHM Messtechnik South Africa Tel: 011 902 0158 Email: 11


December 2016 Edition 13.6
Sept / Oct 2016 Edition 13.5
July / August 2016 Edition 13.4
May / June 2016 Edition 13.3
March / April 2016 Edition13.2
Jan / Feb 2016 Edition 13.1