UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K for October 11, 2017
Commission File Number 1-31615
Sasol Limited
50 Katherine Street
Sandton 2196
South Africa
(Name and address of registrant's principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F __X__ Form 40-F _____
Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if submitted solely to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws
of the jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrant's "home country"), or under the rules of
the home country exchange on which the registrant's securities are traded, as
long as the report or other document is not a press release, is not required
to be and has not been distributed to the registrant's security holders, and,
if discussing a material event, has already been the subject of a Form 6-K
submission or other Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes _____ No __X__
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
82-_______________.d
Enclosures: SASOL AMENDS PLAN TO ISSUE ADDITIONAL SHARES TO SETTLE EXPECTED
OUTSTANDING SASOL INZALO DEBT
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 "the Company")
Sasol Inzalo Public (RF) Limited (Incorporated in the Republic of South
Africa)
(Registration number 2007/030646/06)
Sasol Inzalo Public Ordinary Share code: JSE: SIPBEE
Sasol Inzalo Public Ordinary ISIN: ZAE000210050
SASOL AMENDS PLAN TO ISSUE ADDITIONAL SHARES TO SETTLE EXPECTED OUTSTANDING
SASOL INZALO DEBT
Sasol shareholders are referred to the Company's announcement on 20 September
2017 (the "First Announcement") regarding Sasol's broad-based black economic
empowerment ownership transaction, incorporating information relating to the
termination of the Sasol Inzalo black economic empowerment transaction
("Sasol Inzalo transaction").
The Sasol Inzalo transaction was a landmark, broad-based black economic
empowerment initiative that received shareholder approval in 2008. A
significant amount of the funding to facilitate this transaction was obtained
through the issue of preference shares to external banks to facilitate the
acquisition of Sasol preferred ordinary shares by Sasol Inzalo Groups Funding
(Pty) Ltd and Sasol Inzalo Public Funding (Pty) Ltd (collectively "the Inzalo
FundCos").
Under the terms approved in 2008, 25 547 081 Sasol preferred ordinary shares
are due to be re-designated to Sasol ordinary shares during June and
September 2018. This would result in dilution for existing ordinary
shareholders of approximately 4%. These shares would then need to be sold in
the market by the Inzalo FundCos in order to fund the redemption of the
preference shares and cumulative dividends. Based on the recent trading range
of Sasol's share price, however, this would not be sufficient to satisfy
these obligations and creates a funding shortfall of between R2 billion and
R3 billion. This shortfall will be made good by Sasol in terms of a guarantee
granted in respect of a portion of the preference share funding at the outset
of the transaction.
In the First Announcement Sasol indicated that its preferred funding option
would be to undertake an accelerated book-build of up to 43 million Sasol
ordinary shares to enable the funding of the minimum amount sufficient to
repurchase the relevant Sasol preferred ordinary shares and settle the
relevant obligations and associated costs of the Inzalo FundCos. The
rationale for this option was to achieve rapid resolution of Sasol and the
Inzalo FundCos' respective financing obligations with a structure designed to
help protect Sasol's investment grade credit rating with limited incremental
dilution for shareholders of approximately 1% incremental dilution pursuant
to the issue by Sasol of new ordinary shares.
Following extensive engagement with shareholders, Sasol is now undertaking to
explore, in consultation with the external banks and Inzalo FundCos,
different funding options to settle the relevant financing obligations. Sasol
will therefore no longer pursue the preferred funding option, as described in
the First Announcement, of issuing up to 43 million ordinary shares through
an accelerated book-build process. Sasol's intention is to mitigate the
amount of shareholder dilution whilst still maintaining Sasol's investment
grade credit rating. Sasol will communicate its final plan for settling the
Inzalo FundCos' debt in February 2018.
The terms of Sasol Khanyisa relating to Sasol Inzalo participants, SOLBE1
shareholders and qualifying employees as set out the First Announcement are
in no way affected by this announcement.
09 October 2017
Johannesburg
Sponsor: Deutsche Securities (SA) Proprietary Limited
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant, Sasol Limited, has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Date: October 11, 2017 By: /s/ V D Kahla
Name: Vuyo Dominic Kahla
Title: Company Secretary
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