Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 123
Balance at 30 June 2019
LTIs granted
LTIs exercised
Effect of CPTs and LTIs forfeited
6 619 597
6 424 377
(1 380 689)
(754 973)
422,20
275,61
368,28
378,19
Balance at 30 June 2020*
LTIs granted
LTIs exercised
Effect of CPTs and LTIs forfeited
10 908 312
5 957 275
(1 940 848)
(1 452 069)
345,74
146,58
352,18
345,14
Balance at 30 June 2021*
13 472 670
256,68
* The incentives outstanding as at 30 June 2021 have a weighted average remaining vesting period of 1,9 years. The exercise price of these options
is Rnil.
for year ended 30 June
Average weighted market price of LTIs vested
Average fair value of incentives granted
Model
Risk-free interest rate – Rand
Risk-free interest rate – US$
Expected volatility
Expected dividend yield
Expected forfeiture rate
Vesting period – top management
Vesting period – all other participants
(%)
(%)
(%)
(%)
(%)
2021
Rand
2020
Rand
134,25
254,70
2021
2020
Monte-Carlo
3,99 – 5,90
0,17 – 0,28
98,34
3,49
5
3/5 years
3 years
Monte-Carlo
6,07 – 7,04
0,39 – 0,81
45,28
4,34
5
3/5 years
3 years
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
Movements in the number of incentives outstanding
NOTES TO THE FINANCIAL STATEMENTS
Weighted average
fair value
Rand
Number of
incentives
The risk-free rate for periods within the contractual term of the rights is based on the Rand and US$ swap curve in effect at the time
of the valuation of the grant.
The expected dividend yield of the rights granted is determined using expected dividend payments of the Sasol ordinary shares.
The valuation of the share-based payment expense requires a significant degree of judgement to be applied by management.
Accounting policies:
OTHER
The equity-settled schemes allow certain employees the right to receive ordinary shares in Sasol Limited after a prescribed period.
Such equity-settled share-based payments are measured at fair value at the date of the grant. The fair value determined at the
grant date of the equity-settled share-based payments is charged as employee costs, with a corresponding increase in equity, on
a straight-line basis over the period that the employees become unconditionally entitled to the shares, based on management’s
estimate of the shares that will vest and adjusted for the effect of non-market-based vesting conditions. These equity-settled
share-based payments are not subsequently revalued.
SASOL LIMITED COMPANY
The expected volatility in the value of the rights granted is determined using the historical volatility of the Sasol share price.
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Sasol Annual Financial Statements 2021