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Share-based payment reserve (Tables)

12 Months Ended

Jun. 30, 2021

Share-based payment transaction

Schedule of share-based payment expense

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	2021	​	2020	​	2019
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:									​
Sasol Khanyisa Employee Share Ownership Plan(ESOP)		36,1		885		1 068		952	​
Tier 1 — Eligible Inzalo participants		​		567		642		628	​
Tier 2 — Qualifying employees		​		318		426		324	​
Long-term incentives		36,2		1 042		878		707	​
Equity-settled — recognised directly in equity		​		1 927		1 946		1 659	​

​

Sasol Khanyisa share transaction

Share-based payment transaction

Schedule of the average fair value of instruments granted

​

​	​	​	​	​	​	​	​	​
​		​		​		​		Tier 22
​	​	​	​	Tier 11	​	Tier 11	​	Khanyisa
​	​	​	​	SOL shares	​	SOLBE shares	​	shares
for the year ended 30 June	​	​	​	2021	​	2021	​	2021
Grant date	​	Date	​	1 June 2018	​	1 June 2018	​	25 May 2018
​	​	​	​	​	​	​	​	Khanyisa
Class of shares	​	​	​	SOL shares	​	SOLBE1 shares	​	shares
Shares	​	Number	​	2 082 520	​	2 396 048	​	27 136 679
Weighted average fair value on grant date	​	Rand	​	481,50	​	370,00	​	64,53
IFRS expense recognised for the year	​	Rm	​	304	​	263	​	318

1 The Tier 1 options vested on 1 June 2021.

2 The Tier 2 options have a staggered vesting period with portions vesting from 3 years, and then each year until the end of the transaction term, being 10 years. The outstanding options at 30 June 2021 have a weighted average remaining vesting period of 2,6 years. The weighted average fair value price is derived from the Monte-Carlo option pricing model. The estimated strike price value for Tier 2 is R290,52 and represents the remaining vendor funding per share at 30 June 2021.

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		​		2021		2020
Model	​	​		Monte-Carlo		Monte-Carlo
Risk-free interest rate — Rand		(%)		3,99 – 5,90		6,07 – 7,04
Risk-free interest rate — US$		(%)		0,17 – 0,28		0,39 – 0,81
Expected volatility		(%)		98,34		45,28
Expected dividend yield		(%)		3,49		4,34
Expected forfeiture rate		(%)		5		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 2019		6 619 597		422,20
LTIs granted		6 424 377		275,61
LTIs exercised		(1 380 689)		368,28
Effect of CPTs and LTIs forfeited		(754 973)		378,19
Balance at 30 June 2020*		10 908 312		345,74
LTIs granted		5 957 275		146,58
LTIs exercised		(1 940 848)		352,18
Effect of CPTs and LTIs forfeited		(1 452 069)		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.

Schedule of weighted average market price

​

​	​	​	​	​
​	​	2021	​	2020
for year ended 30 June		Rand		Rand
Average weighted market price of LTIs vested		134,25		254,70

X

- Definition

The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's other equity instruments (ie other than share options).

+ References

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The disclosure of the number and weighted average exercise prices of other equity instruments (ie other than share options).

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