I bring the matter forward of ex-employees of Sasol who were part of the Sasol Inzalo scheme and have been excluded from the payout made by the scheme recently. Upon exit from Sasol, mainly due to retrenchment, each employee signed a form that was indicative that we retain our shares and they will not be forfeited. When we queried in May this year, when the maturity of the shares was evident, we were told that the fund was in debt and did not make the finances to pay individuals out. This however made a turn when Sasol announced that the investors will be paid out and the fund has made the profit. Even though what the share price offered was not favourable. So in legality the terms and conditions of the fund has changed and this would now also be applicable to the ex- employees whom shares were allocated to. This matter has aroused so many discontentment amongst the ex-employees as we feel deprived and not taken seriously. Can this matter be seen as just for our concerns?
Thanks Michelle Richean