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Share-based payment reserve (Tables) | 12 Months Ended
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Jun. 30, 2018
Share-based payment transaction |
Schedule of share-based payment expense |
|  |  |  | 2018 |  | 2017 |  | 2016 |
for the year ended 30 June |  | Note |  | Rm |  | Rm |  | Rm |
During the year, the following share-based payment expense was recognised in the income statement relating to the equity-settled share- based payment schemes: |  |  |  |  |  |  |  |  |
Equity-settled – recognised directly in equity |  |  |  | 3 776 |  | 463 |  | 123 |
Sasol Inzalo share transaction |  | 35.1 |  | 34 |  | 76 |  | 123 |
Sasol Khanyisa share transaction(1) |  | 35.2 |  | 2 953 |  | — |  | — |
|  |  |  | 2 866 |  | — |  | — |
Sasol ordinary BEE (SOLBE1) shares issued(2) |  |  |  | 1 104 |  | — |  | — |
Khanyisa Public |  |  |  | 1 762 |  | — |  | — |
Tier 1 - Khanyisa Employee Share Ownership Plan (ESOP) |  |  |  | 52 |  |  |  |  |
Tier 2 - Khanyisa ESOP |  |  |  | 35 |  |  |  |  |
Long-term incentives(3) |  | 35.3 |  | 789 |  | 387 |  | — |
Employee-related share-based payment expense (included in amount above) |  |  |  | 910 |  | 463 |  | 123 |
| (1) |  | In November 2017, Sasol Khanyisa a new Broad-Based Black Economic Empowerment (B-BBEE) scheme was approved by shareholders at a General Meeting.
| (2) |  | IFRS 2 expense recognised immediately, as shares granted to participants are unencumbered and can be traded immediately.
| (3) |  | On 25 November 2016, the cash-settled LTI scheme was converted to an equity-settled share scheme.
Sasol Khanyisa share transaction |
Share-based payment transaction |
Schedule of the average fair value of instruments granted |
|  |  |  |  |  |  |  |  |  |  |  |  |  | IFRS |
|  |  |  |  |  |  |  |  |  |  |  |  |  | expense |
|  |  |  |  |  |  |  |  |  | Weighted |  |  |  | recognised |
|  |  |  | Number |  |  |  | Number |  | average |  | Total |  | for the year |
|  |  |  | of |  | Number |  | of Sasol |  | fair |  | IFRS |  | ended |
Components of the |  |  |  | SOLBE1 |  | of SOL |  | Khanyisa |  | value |  | expense |  | 30 June 2018 |
transaction |  | Grant date |  | Shares |  | shares |  | shares |  | Rand |  | Rm |  | Rm |
SOLBE1 Election 1 for 4 |  | 23 March 2018 |  | 245 741 |  | — |  | — |  | 386,00 |  | 95 |  | 95 |
Khanyisa Public 1 for 10 |  | 1 June 2018 |  | 2 727 281 |  | — |  | — |  | 370,00 |  | 1 009 |  | 1 009 |
Sasol Khanyisa Public(1),(3) |  | 1 June 2018 |  | — |  | — |  | 26 503 642 |  | 66,48 |  | 1 762 |  | 1 762 |
ESOP - Tierl(2) |  | 1 June 2018 |  | — |  | 2 082 520 |  | — |  | 481,50 |  | 1 003 |  | 27 |
ESOP - T ierl(2) |  | 1 June 2018 |  | 2 396 048 |  | — |  | — |  | 370,00 |  | 887 |  | 25 |
ESOP - Tier2(2),(3) |  | 25 May 2018 |  | — |  | — |  | 26 503 642 |  | 66,48 |  | 1 762 |  | 35 |
|  |  |  | 5 369 070 |  | 2 082 520 |  | 53 007 284 |  |  |  | 6 518 |  | 2 953 |
| (1) |  | The estimated strike price value for Khanyisa Public and ESOP Tier 2 is R313,25 and represents the remaining vendor funding per share as at 30 June 2018.
| (2) |  | The ESOP Tierl and 2 options outstanding have a weighted average remaining vesting period of 2,9 and 5,8 years. ESOP Tier 1 vests after 3 years and ESOP Tier 2 has a staggered vesting period, with portions vesting from 3 years, and then each year until the end of the transaction term, being 10 years.
| (3) |  | The weighted average fair value price is derived from the Monte-Carlo option pricing model. The price will move closer to the strike price over the transaction period as certainty of dividends declared by SSA is expected to exceed outstanding vendor financing.
Schedule of the assumptions used to calculate the average fair value of options granted |
Average fair value Sasol Khanyisa options granted |  |  |  | 2018 |
Model |  |  |  | Monte-Carlo |
Risk - free interest rate |  | (%) |  | 8,08 |
Expected volatility |  | (%) |  | 28,49 |
Expected dividend yield |  | (%) |  | 1,8 – 10,1 |
Long Term Incentive Equity Settled |
Share-based payment transaction |
Schedule of the assumptions used to calculate the average fair value of options granted |
Average fair value of incentives granted |  |  |  | 2018 |  | 2017 |
Model |  |  |  | Monte-Carlo |  | Monte-Carlo |
Risk-free interest rate - Rand |  | (%) |  | 6,98 – 7,34 |  | 7,03 – 9,22 |
Risk-free interest rate - US$ |  | (%) |  | 1,01 – 1,47 |  | 0,76 – 0,91 |
Expected volatility |  | (%) |  | 24,73 |  | 29,87 |
Expected dividend yield |  | (%) |  | 3,65 |  | 3,42 |
Expected forfeiture rate |  | (%) |  | 5 |  | 3 – 5 |
Vesting period - top management |  |  |  | 3 / 5 years |  | 3 / 5 years |
Vesting period - all other participants |  |  |  | 3 years |  | 3 years |
Schedule of movements in the number of incentives outstanding |
|  |  |  | Weighted average |
|  | Number of |  | fair value |
Movements in the number of incentives outstanding |  | incentives |  | Rand |
Balance at 30 June 2016 |  | — |  | — |
Conversion of LTI scheme to equity-settled scheme on 25 November 2016 |  | 6 398 182 |  | 340,85 |
LTIs granted |  | 150 200 |  | 370,47 |
LTIs vested |  | (194 390 | ) | 359,92 |
Effect of CPTs and LTIs forfeited |  | (155 403 | ) | 343,03 |
Balance at 30 June 2017 |  | 6 198 589 |  | 337,80 |
LTIs granted |  | 2 626 268 |  | 376,73 |
LTIs vested |  | (1 868 963 | ) | 347,93 |
Effect of CPTs and LTIs forfeited |  | (159 406 | ) | 349,95 |
Balance at 30 June 2018* |  | 6 796 488 |  | 348,19 |
| * |  | The incentives outstanding as at 30 June 2018 have a weighted average remaining vesting period of 1,5 years. The exercise price of these options is Rnil.
Schedule of weighted average market price |
|  | 2018 |  | 2017 |
for year ended 30 June |  | Rand |  | Rand |
Average weighted market price of LTIs vested |  | 396,02 |  | 375,43 |

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