JOHANNESBURG, Feb. 21, 2019 /PRNewswire/ -- Sasol has entered into a Market Making Services Agreement (the "Agreement") with Ngonyama Capital, in terms of which Ngonyama Capital will purchase and sell SOLBE1 Shares in the open market with the objective of enhancing the value proposition of SOLBE1 Shares and increasing the liquidity of SOLBE1 Shares in the open market.
Under the Agreement, which has been entered into for a period of three (3) years and which may be terminated on notice by either party, Ngonyama Capital will be the beneficial owner of SOLBE1 Shares and will buy and sell SOLBE1 Shares in the open market as a principal, for its own account and sole risk and independent of and without influence by Sasol. Ngonyama Capital will endeavour to purchase 100 000 SOLBE1 Shares in the open market within a period of six months from the date of this announcement. In consideration for rendering the market making services under the Agreement, Ngonyama Capital will be paid a fee calculated at a total of 15%, spread over the three year period of the Agreement, of the average daily net value of SOLBE1 Shares held by Ngonyama Capital. A break fee will be payable to Ngonyama if Sasol terminates the Agreement without reason before the expiry of three years. The Agreement will be available for inspection during normal working hours at the Company's company secretarial services office at Sasol Place, 50 Katherine Street, Sandton.
Ngonyama Capital will commence the market making services in terms of the Agreement on Thursday, February 21, 2019
For further information, please contact:
Chief Investor Relations Officer
Direct telephone: +27(0)10-344-8052
SOURCE Sasol Limited