Examples of Public Facilitation Trust in a sentence
The provisions of the Agreement constitute a benefit for the Public Facilitation Trust, which it will be entitled to accept at any time by giving written notice to Sasol including an address for the purposes of clause 12.
Sasol will appoint one trustee and the Foundation, which will be the beneficiary of the Public Facilitation Trust, will appoint two trustees.
The provisions of the Agreement constitute a benefit for the Public Facilitation Trust, which it will be entitled to accept at any time by giving written notice of such acceptance to Sasol including an address for the purposes of clause 12.
In respect of clauses 7.2, 8.2, 8.4, 9.2 and 9.4, the New Registered Shareholder will be obliged within 10 (ten) days after receipt of notice from Sasol to instruct the relevant central securities depository participant to effect transfer of your Sasol BEE Ordinary Shares out of the account in the name of the New Registered Shareholder into an account in the name of the Public Facilitation Trust both as registered and beneficial owner.” 15.
It is merely the circumstances in which Sasol BEE Ordinary Shares could be acquired by the Public Facilitation Trust which ha ve been extended.
Should the equity contributions be less than R400 million the shortfall may be funded by Sasol through the subscription for D Preference Shares and through subscriptions by the Public Facilitation Trust.
In respect of clauses 7.2, 8.2, 8.4, 9.2 and 9.4, the New Registered Shareholder will be obliged within 10 (ten) days after receipt of notice from Sasol Inzalo to instruct the relevant central securities depository participantto effect transfer of your Sasol Inzalo Ordinary Shares out of the account in the name of the New Registered Shareholder into an account in the name of the Public Facilitation Trust both as registered and beneficial owner.”15.
In respect of clauses 7.2, 8.2, 8.4, 9.2 and 9.4, the New Registered Shareholder will be obliged within 10 (ten) days after receipt of notice from Sasol to instruct the relevant central securities depository participant to effect transfer of your Sasol BEE Ordinary Shares out of the account in the name of the New Registered Shareholder into an account in the name of the Public Facilitation Trust both as registered and beneficial owner.” 24.
Such purchase of Sasol BEE Ordinary Shares from Sasol BEE Ordinary Shareholders by the Public Facilitation Trust will not be a repurchase of securities in accordance with the Companies Act.
The effect of this Special Resolution Number 9 is that the Company will be authorised, until the 2-year period contemplated in the Companies Act, 2008 expires, to grant financial assistance to the Public Facilitation Trust in order for the Public Facilitation Trust to acquire Sasol BEE Ordinary Shares in the aforesaid circumstances.