Business 12.9.2018 08:01 am

Sasol black empowerment scheme to distribute over R1.3bn to shareholders

Sasol building. Picture: Facebook.

Sasol building. Picture: Facebook.

Sasol Inzalo was created in 2008 with the objective of providing black South Africans with the opportunity to own a portion of the company.

Energy and chemicals group Sasol’s black empowerment scheme Inzalo would distribute over R1.3 billion to shareholders in the form of a cash payment, it said on Tuesday.

The payout from Sasol Inzalo Public would see each shareholder receive R85.63 per share, marking the end of the scheme which will delist from the Johannesburg Stock Exchange next Tuesday.

Sasol Inzalo was created in 2008 with the objective of providing black South Africans with the opportunity to own a portion of Sasol and was launched at a Sasol share price of R366 per share in September that year.

Over the term of the Sasol Inzalo transaction, the share price has been impacted by volatility in crude oil and commodity prices, reaching a high of R632 per share in 2014, and a low of R252 per share in 2009.

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