| Mon 10 Sep 2007, 7:05 | | SOL - Sasol - Record results for the year ended 30 |
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SOL
SOL
SOL - Sasol - Record results for the year ended 30 June 2007 and dividend
declaration
Sasol Limited
(Incorporated in South Africa)
(Registration number: 1979/003231/06)
JSE Code: SOL & ISIN Code: ZAE000006896
NYSE Code: SSL & ISIN Code: US8038663006
("Sasol" or "the Company")
Record results for the year ended 30 June 2007
- operating profit, excluding Sasol o&s, - up 18%
- headline earnings per share - up 10%
- final dividend - up 37% to R5,90 per share
- oryx GTL producing on specification product
- several major capital projects nearing completion - expenditure of R12
billion, 54% in South Africa
- Sasol o&s retained - turnaround in progress
- BEE transformation progressing well - 10% ownership transaction at Sasol
limited announced
2006 2007 2007 2006
Turnover Operating profit
R million Business unit analysis R million
67 111 77 019 SA Energy cluster 21 775 18 684
5 466 6 042 - Mining 1 171 1 227
25 649 29 084 - Synfuels 16 251 13 499
32 787 38 191 - Oil 2 417 2 432
3 209 3 702 - Gas 1 936 1 526
1 398 1 465 International energy (463) (42)
cluster
161 65 - Synfuels (763) (642)
International
1 237 1 400 - Petroleum 300 600
International
49 284 58 881 Global chemicals 4 293 (1 471)
cluster
7 639 9 410 - Polymers 1 089 822
11 666 13 766 - Solvents 1 106 873
19 095 22 582 - Olefins & Surfactants 1 140 (3 567)
10 884 13 123 - Other chemicals 958 401
1 450 2 843 - Other 16 41
119 243 140 208 25 621 17 212
(36 848) (42 081) Intercompany turnover
Capital items (1 140) 4 272
82 395 98 127 24 481 21 484
2006 2007 2007 2006
Turnover Operating profit
R million Geographic analysis R million
42 909 50 908 South Africa 22 259 18 541
5 150 5 747 Rest of Africa 701 1 254
17 836 22 448 Europe 1 757 (1 632)
3 992 4 489 Middle East, India, Far 4 116
East
9 839 11 258 North America 691 (1 220)
1 249 1 387 South America (5) (18)
1 420 1 890 Southeast Asia 214 171
82 395 98 127 25 621 17 212
The provisional financial statements are presented on a summarised consolidated
basis.
Balance Sheet
2007 2006
Restated
at 30 June Rm Rm
Assets
Property, plant, equipment 50 515 39 826
Assets under construction 24 611 23 176
Goodwill 586 266
Other intangible assets 629 775
Post-retirement benefit assets 363 80
Deferred tax assets 845 691
Other long-term assets 3 140 2 293
Non-current assets 80 689 67 107
Assets held for sale 334 12 115
Inventories 14 399 8 003
Trade and other receivables 16 994 12 067
Short-term financial assets 16 180
Restricted cash 646 584
Cash 5 987 3 102
Current assets 38 376 36 051
Total assets 119 065 103 158
Equity and liabilities
Shareholders` equity 61 617 52 605
Minority interest 1 652 379
Long-term debt 13 359 15 021
Long-term financial liabilities 53 -
Long-term provisions 3 788 3 463
Post-retirement benefit obligations 3 661 2 461
Long-term deferred income 2 765 1 698
Deferred tax liabilities 8 304 6 156
Non-current liabilities 31 930 28 799
Liabilities in disposal group held for sale 35 5 479
Short-term debt 5 621 2 721
Short-term financial liabilities 383 514
Other current liabilities 17 282 12 219
Bank overdraft 545 442
Current liabilities 23 866 21 375
Total equity and liabilities 119 065 103 158
Note: The comparative periods have been restated for the effects of a change in
accounting policy and the reclassification of assets under construction from
property, plant and equipment and other intangible assets.
Income Statement
2007 2006
Restated
for the year ended 30 June Rm Rm
Turnover 98 127 82 395
Cost of sales and services (59 997) (48 547)
rendered
Gross profit 38 130 33 848
Non-trading income 639 533
Marketing and distribution (5 818) (5 234)
expenditure
Administrative expenditure (6 094) (4 316)
Other operating expenditure (1 004) (7 862)
Translation (losses)/gains (232) 243
Operating profit 25 621 17 212
Dividends and interest received 825 341
Income from associates 405 134
Borrowing costs (net of amounts (1 148) (571)
capitalised)
Profit before tax 25 703 17 116
Taxation (8 153) (6 534)
Profit 17 550 10 582
Attributable to
Shareholders 17 030 10 406
Minority interests in subsidiaries 520 176
17 550 10 582
Basic earnings per share Rand 27,35 16,78
Diluted earnings per share Rand1 27,02 16,51
1 Diluted earnings per share is calculated taking the Sasol Share Incentive
Scheme into account.
Note: The income statement has been restated for the effect of the
reclassification of Sasol O&S as a continuing operation.
Cash Flow Statement
2007 2006
Restated
for the year ended 30 June Rm Rm
Cash receipts from customers 97 339 80 229
Cash paid to suppliers and employees (68 914) (55 702)
Cash generated by operating activities 28 425 24 527
Investment income 1 059 444
Borrowing costs paid (1 816) (1 745)
Tax paid (7 251) (5 389)
Dividends paid (4 613) (3 660)
Cash available from operating activities 15 804 14 177
Additions to non-current assets (12 045) (13 296)
Acquisition of businesses (285) (147)
Cash acquired on acquisition of businesses - (113)
Disposal of businesses 2 200 587
Cash disposed of on disposal of businesses 33 (1)
Other net cash flows from investing activities (441) 695
Cash utilised in investing activities (10 538) (12 275)
Share capital issued 332 431
Share repurchase programme (3 669) -
Dividends paid to minority shareholders (408) (75)
(Decrease)/increase in long-term debt (13) 1 305
Increase/(decrease) in short-term debt 865 (2 938)
Cash effect of financing activities (2 893) (1 277)
Translation effects of cash of foreign operations (24) (133)
Increase in cash and cash equivalents 2 349 492
Cash and cash equivalents at beginning of year 3 244 3 224
Movement in cash in disposal group held for sale 495 (472)
Cash and cash equivalents at end of year 6 088 3 244
Comprising
- restricted cash 646 584
- cash 5 987 3 102
- bank overdraft (545) (442)
6 088 3 244
Changes In Equity Statement
2007 2006
Restated
for the year ended 30 June Rm Rm
Opening balance as previously reported 52 352 43 533
Effect of change in accounting policy 253 220
Restated opening balance 52 605 43 753
Shares issued 332 431
Shares repurchased (3 669) -
Attributable earnings 17 030 10 406
as previously reported 10 373
effect of change in accounting policy 33
Dividends paid (4 613) (3 660)
Increase in share based payment expense 186 169
Movement in foreign currency translation (254) 1 147
reserve
Movement in cash flow hedge accounting reserve - 359
Closing balance 61 617 52 605
Comprising
Share capital 3 628 3 634
Share repurchase programme (3 669) (3 647)
Retained earnings 61 109 52 001
Share based payment reserve 966 780
Foreign currency translation reserve (443) (189)
Investment fair value reserve 2 2
Cash flow hedge accounting reserve 24 24
Shareholders` equity 61 617 52 605
Headline Earnings
2007 2006
Restated
for the year ended 30 June Rm Rm
Reconciliation of headline earnings
Profit 17 550 10 582
Less minority interests (520) (176)
Effect of capital items (1 140) 4 272
Impairment of assets 208 1 067
Reversal of fair value write-down (803) -
Reversal of impairment - (140)
Fair value write-down - 3 196
Profit on disposal of assets (749) (132)
Scrapping of property, plant and 204 281
equipment
Tax effect on reconciling items (93) (431)
Headline earnings 15 797 14 247
Capital items
Mining 13 16
Synfuels 64 187
Oil 2 8
Gas (370) (138)
Petroleum International - 82
Olefins & Surfactants (707) 4 143
Polymers 9 17
Solvents 152 (105)
Other (303) 62
Capital items (1 140) 4 272
Headline earnings per share Rand 25,37 22,98
Diluted headline earnings per share Rand 25,06 22,61
Salient Features
2007 2006
for the year ended 30 June Restated
Selected ratios
Return on equity % 29,8 21,6
Return on total assets % 24,2 18,5
Operating margin % 26,1 20,9
Borrowing cost cover times 14,5 10,1
Dividend cover times 3,0 2,3
Share statistics
Total shares in issue million 627,7 683,0
Treasury shares (share million 14,9 60,1
repurchase programme)
Weighted average number of million 622,6 620,0
shares
Diluted weighted average number million 630,3 630,2
of shares
Share price (closing) Rand 266,00 275,00
Market capitalisation Rm 166 968 187 825
Net asset value per share Rand 100,55 84,45
Dividend per share Rand 9,00 7,10
- interim Rand 3,10 2,80
- final Rand 5,90 4,30
Other financial information
Total debt (including bank
overdraft)
- interest bearing Rm 18 925 17 913
- non-interest bearing Rm 600 300
Borrowing costs capitalised Rm 989 1 448
Capital commitments Rm 18 575 14 628
- authorised and contracted Rm 28 416 29 152
- authorised, not yet Rm 11 720 6 875
contracted
- less expenditure to date Rm (21 561) (21 399)
Guarantees and contingent
liabilities
- total amount Rm 35 110 33 212
- liability included on balance Rm 13 388 12 106
sheet
Significant items in operating
profit
- employee costs Rm 11 695 9 551
- depreciation and amortisation Rm 4 015 4 268
of non-current assets
- operating lease charges Rm 707 568
Directors` remuneration Rm 45 32
Share options granted to `000 1 124 1 506
directors - cumulative
Effective tax rate % 31,7 38,2
Employees at 30 June number 31 860 31 460
Average crude oil price - dated US$/barrel 63,95 62,45
Brent
Average rand/US$ exchange rate 1US$ = rand 7,20 6,41
The reader is referred to the definitions contained in the 2006 Sasol Limited
annual financial statements.
Value Added Statement
2007 2006
Restated
for the year ended 30 June Rm Rm
Turnover 98 127 82 395
Purchased materials and services (56 353) (51 364)
Value added 41 774 31 031
Investment income 1 230 475
Wealth created 43 004 31 506
Employees 11 695 9 551
Providers of equity capital 5 133 3 836
Providers of loan capital 1 874 1 755
Governments 6 757 6 620
Reinvested in the group 17 545 9 744
Wealth distribution 43 004 31 506
Please note: A billion is defined as one thousand million.
Overview
"This has been a year with good results and significant strides on safety,
transformation, improved stakeholder relations and major capital projects, which
together with our strong balance sheet provides a solid foundation for
sustainable long-term growth," says chief executive Pat Davies.
Earnings attributable to shareholders for the year ended 30 June 2007 increased
by 64% to R17,0 billion from R10,4 billion. Our earnings per share of R27,35 and
headline earnings per share of R25,37 were respectively 63% and 10% higher than
those of the previous year.
Operating profit of R25,6 billion was 49% higher than the prior year. The
increase in operating profit resulted from a 12% weakening in the average
exchange rate and a 2% increase in the average dated Brent crude oil price. The
increase was partly offset by the combined effect of the two planned maintenance
shutdowns of our Synfuels operations, the starting up of the selective catalytic
cracker (SCC), production interruptions and lower sales volumes.
"The pleasing earnings growth, despite the negative impact of the Synfuels
maintenance shutdowns, together with our strong cash flows have enabled us to
deliver on our financial targets and build value for our shareholders," says
Christine Ramon, chief financial officer.
These results include the Sasol Olefins & Surfactants (O&S) business which was
reclassified as a continuing operation from March 2007. Operating profit would
have increased by 18% and earnings by 15%, had the impact of Sasol O&S been
excluded.
Our cash generated by operating activities of R28,5 billion represents a 16%
increase on the prior year.
The directors have declared a final dividend of R5,90 per share. The total
dividend declared for the year of R9,00, including the interim dividend,
reflects a 27% increase on the previous year and translates into a dividend
cover of 3 times.
Safety focus delivering results
Safety remains a top priority for the group. Our recordable case rate (RCR),
covering employees and service providers, including injuries and illnesses, has
improved from 0,91 at 30 June 2006 to 0,73 at 30 June 2007. It is very pleasing
to report that Sasol Gas achieved an RCR of zero for the year and that most
businesses recorded significant improvements in their respective RCRs.
Major capital projects advancing
Cash spent on capital projects amounted to R12,0 billion, of which R6,5 billion
(54%) was invested in our South African operations.
Several of our major capital projects are nearing completion and we expect to
see initial contributions in our 2008 financial year. Major projects advanced
during the year included the following.
- Our fuel quality enhancement and polymer expansion project (Project Turbo)
is almost complete. The polyethylene plant has concluded its warranty runs
and the SCC was started up. The SCC was subsequently taken out of operation
for modifications following initial performance tests.
- Oryx GTL has produced and sold product. During start-up all systems and
process units were successfully tested and demonstrated their design
intent. Technical challenges, reported during May 2007, are in the process
of being resolved.
- Construction of our Escravos GTL joint venture project in Nigeria
continues, with beneficial operation expected during 2010.
- We are making good progress in Arya Sasol Polymer Company with
commissioning of the ethane cracker having started and the plant expected
to be producing to specification in the last quarter of 2007. The two
polyethylene plants should be in beneficial operation by the first quarter
of calendar 2008.
- Construction of our third Octene train in Secunda is expected to be
completed later this calendar year, with start-up towards the end of the
first quarter of 2008.
The severe global shortage of engineering and construction resources for large
contracts continues. We carefully monitor developments and have taken
appropriate mitigating actions, where possible, to curb the impact of these
resource constraints on both the timing and costs of our projects. These include
a revision to our contracting strategy, an almost 25% increase in our own staff
at Sasol Technology and closer collaboration with our strategic engineering and
construction contractors.
Plans are underway to increase Sasol Synfuels` capacity by 20% within the next
decade, mostly based on additional natural gas imported from Mozambique.
We are exploring the feasibility of constructing another sizeable inland
coal-to-
liquids refinery, of about 80 000 barrels per day, to serve South Africa`s
growing inland fuel requirements in close co-operation with the South African
government. The pre-feasibility study will take into account a variety of
factors including project economics, the potential environmental footprint and
safety standards.
Black economic empowerment progressing well
We are making good progress in our transformation activities. These include:
- The sale of 25% of Sasol Oil (Pty) Limited to Tshwarisano LFB Investments
(Pty) Limited with effect from 1 July 2006.
- Announcement of the first terms of our proposed broad-based black economic
empowerment (BEE) transaction for a proposed 10% ownership at Sasol Limited
level.
- Expected finalisation of the first phase of our Sasol Mining empowerment
deal and an announcement on a second empowerment transaction to be made
later this calendar year.
- Continuing investment in skills development of both our own employees and
through our corporate social investment programme.
- Increased procurement from BEE entities, now at R4,2 billion.
- Improvements in our overall employment equity statistics with additional
focus at managerial levels in the organisation.
Operational review
During the past year we formalised the group`s structure into three focused
business clusters - South African Energy Cluster, International Energy Cluster
and Global Chemicals Cluster. Each business cluster will work together to set
strategic goals, improve safety, identify synergies and reduce costs.
South African energy cluster
Sasol Mining - lower production volumes
The operating profit of Sasol Mining of R1 171 million was 5% lower than the
prior year primarily due to planned higher coal purchases from an external
supplier, Anglo Coal`s Isibonelo Colliery, lower production volumes as a result
of the Synfuels shutdowns and the effect of a strike in December 2006.
Sasol Gas - increased sales volumes
A 7% increase in sales volumes, higher sales prices and the profit of R346
million on the sale of 25% of Republic of Mozambique Pipeline Investments
Company (Pty) Limited (Rompco) resulted in Sasol Gas increasing its operating
profit by 27% to R1 936 million.
We are making good progress in the expansion of our pipeline gas network. During
the year, a second pipeline-gas co-generation plant, for the production of
electricity and steam, was commissioned in Newcastle, KwaZulu-Natal.
Sasol Synfuels - record year despite reduced sales volumes
Sasol Synfuels had another record year, achieving an increase in operating
profit of 20% to R16 251 million due to higher oil prices and a weaker rand.
Production volumes were 2,8% lower than last year as a result of the shutdowns,
production instabilities during the start up of the SCC and some production
interruptions. Operating costs have increased as a result of the need to import
high-octane fuel blending components to meet demand during shutdowns, as well as
higher coal and natural gas costs.
Sasol Oil - operating profit maintained despite increased imports
Operating profit declined marginally by 1% to R2 417 million mainly as a result
of lower volumes from Sasol Synfuels due to the shutdowns and an increased level
of imported petrol, diesel and fuel components.
We are making progress in retail network expansion under the Sasol and Exel
brands with 394 service stations in operation. This exceeds industry growth.
International energy cluster
Sasol Synfuels International (SSI) - first GTL production, focused on resolving
the remaining technical challenges
The Oryx GTL facility was started up during the year and produced on
specification product. We are confident that we will resolve the remaining
technical challenges and steadily increase production throughput. Sasol Chevron
continues to evaluate GTL opportunities in other locations including Australia.
SSI continues to investigate coal-to-liquids opportunities in China, India and
in the USA. Operating losses increased to R763 million during the year as a
consequence of increased activity.
Sasol Petroleum International - higher exploration activity
Operating profit declined by 50% to R300 million for the year primarily due to a
significant increase in exploration costs offset by higher selling prices, a
weaker rand/US dollar exchange rate and increased sales volumes.
Global chemicals cluster
Sasol Polymers - increased operating profit despite impact of shutdown
Operating profit increased by 32% to R1 089 million on the back of higher
margins, despite higher oil-related feedstock costs and the reduced volumes
stemming from the Synfuels shutdown.
Sasol Solvents - stronger product prices negate the impact of lower volumes
Operating profit increased by 27% to R1 106 million due to stronger product
prices and a weaker rand whilst the Synfuels shutdowns and operational issues
led to lower production levels during the year.
Sasol Olefins & Surfactants - divestiture cancelled, turnaround in progress
In March 2007, we terminated the divestiture process and announced our intention
to retain and restructure Sasol O&S. In the first phase of our turnaround, we
have shut down unprofitable production facilities in Baltimore, USA and Porto
Torres, Italy.
Operating profit for the year was R1 140 million (2006 - operating loss of R3
567 million), taking into account the reversal of the 2006 fair value write-down
amounting to R803 million and the recognition of restructuring provisions of
R406 million.
Other chemical businesses - significantly improved performance
Sasol Wax has more than doubled its operating profit to R629 million, primarily
as a result of improved product margins and a focus on higher value-add blends.
Sasol Nitro has also recorded an improvement in operating profit of 31% to R610
million mainly due to higher sales volumes in the fertiliser business and growth
in our explosive initiators business.
Gearing - share repurchase programme reactivated
Our gearing has reduced from 29% at 30 June 2006 to 22% at 30 June 2007. This
was due mainly to the increase in cash flows from earnings and the proceeds
received on the disposals of 25% of Rompco and 25% of Sasol Oil (Pty) Limited.
We reactivated our share repurchase programme and, in the current year, have
repurchased 14,9 million shares at an average price of R245,94 per share, which
represents about 2,4% of our issued share capital.
Profit outlook - earnings will be maintained in the 2008 financial year
We will commission substantial new production capacity during the coming
financial year. This is expected to benefit our earnings late in 2008 and into
the 2009 financial year as these plants ramp up production to full operating
capacity.
A specific focus in the year ahead will be on controlling cash costs per unit of
production. This will be balanced with the need to further enhance the on-line
availability and efficiency of our facilities, and thus the overall production
rate.
Taking into account our assumptions on prices and currencies, earnings in the
2008 financial year will be maintained at 2007 financial year levels, despite
anticipated lower product margins and costs associated with our growth
programme. The effects of our proposed empowerment equity transactions have not
been taken into account in this outlook.
Basis of preparation and accounting policies
The summarised, provisional consolidated financial results for the year ended 30
June 2007 have been prepared in compliance with the Listings Requirements of the
JSE Limited, International Financial Reporting Standards (IFRS) and the South
African Companies Act, 1973, as amended.
Except as otherwise disclosed, the accounting policies applied in the
presentation of the financial results are consistent with those applied for the
year ended 30 June 2006.
The group has, with retrospective application, changed its accounting policy
with regard to costs incurred to develop the operations of existing, operating
mines. Under the amended accounting policy, all development expenditure incurred
after the commencement of production are capitalised to the extent that they
give rise to future economic benefits and are amortised over the estimated
useful lives of those assets. The effect on earnings and headline earnings per
share is an increase of 1 cent for the year ended 30 June 2006.
Further details will be provided in the annual report for the year ended 30 June
2007.
These summarised, provisional consolidated financial results have been prepared
in accordance with the historic cost convention, except for certain financial
instruments which are stated at fair value.
Related party transactions
The group, in the ordinary course of business, entered into various sale and
purchase transactions on an arm`s length basis at market rates with related
parties.
Acquisition and disposals of businesses
With effect from 1 July 2006, a 25% interest in Rompco was sold to Companhia de
Mocambicana de Gasoduto (CMG) and a profit of R346 million was realised.
With effect from 1 July 2006, Tshwarisano acquired a 25% shareholding in Sasol
Oil (Pty) Limited for a consideration of R1 450 million and a profit of R315
million was realised.
In October 2006, Sasol`s interest in DPI Holdings (Pty) Limited was sold to Dawn
Limited for a consideration of R51 million and a R7 million loss was realised.
In September 2006, Sasol Nitro acquired the remaining 40% of Sasol Dyno Nobel
(Pty) Limited for a consideration of US$31 million (R221 million).
Post balance sheet date events
Windfall tax
On 6 August 2007, the Minister of Finance announced that National Treasury would
not pursue a windfall tax on the South African liquid fuels industry.
Black economic empowerment transaction
Today we also announced the first terms of our proposal to conclude a broad-
based black economic empowerment (BEE) transaction, which should result in the
transfer of 10% beneficial ownership of Sasol Limited`s issued share capital to
our employees and a wide spread of black South Africans.
It is anticipated that a further announcement of the detailed terms of the BEE
transaction will be made in the first half of 2008, after which shareholder
approval will be sought.
Sasol Dia Acrylates
Sasol Chemical Industries Limited and Mitsubishi Chemical Corporation (MCC)
agreed to dissolve their Acrylates joint venture, whereby Sasol Chemical
Industries Limited will acquire the shares held by MCC. The various agreements
relating to this transaction are well advanced.
Sale of businesses
On 10 July 2007, Sasol Wax disposed of its investment in Paramelt RMC BV,
operating in the Netherlands, realising a profit of R118 million.
In August 2007, Sasol Investment Company (Pty) Limited disposed of its
investment in FFS Refiners (Pty) Limited and realised a profit of R101 million.
Significant changes in contingent liabilities since 30 June 2006
In terms of the sale of 25% in Sasol Oil (Pty) Limited to Tshwarisano, Sasol has
provided facilitation for the financing requirements of Tshwarisano. The
undiscounted maximum exposure at 30 June 2007 amounted to R1 051 million. A
liability for the fair value of this guarantee at 30 June 2007, amounting to R37
million, has been recognised.
Principal foreign currency conversion rates
30 June 30 June
One unit of foreign currency equals 2007 2006
Rand/US$ (closing) 7,04 7,17
Rand/US$ (average) 7,20 6,41
Rand/euro (closing) 9,53 9,17
Rand/euro (average) 9,40 7,80
Independent audit report
The summarised, provisional consolidated balance sheet at 30 June 2007 and the
related summarised, provisional consolidated statements of income, changes in
equity and cash flow for the year then ended have been audited by KPMG Inc.
Their unqualified audit report is available for inspection at the registered
office of the Company.
Declaration of dividend number 56 - dividend increased by 37%
The final dividend, dividend number 56, of R5,90 per share (2006: R4,30 per
share) has been declared in the currency of the Republic of South Africa. The
salient dates are:
To holders of ordinary shares:
Last day for trading to qualify for and Friday, 5 October 2007
participate in the final dividend (cum
dividend)
Trading ex dividend commences Monday, 8 October 2007
Record date Friday, 12 October 2007
Dividend payment date (electronic and
certificated register).
Electronic payment will be undertaken Monday, 15 October 2007
simultaneously
Holders of American Depositary Receipts
Ex dividend on New York Stock Exchange Wednesday, 10 October 2007
(NYSE)
Record date Friday, 12 October 2007
Approximate date for currency conversion Tuesday, 16 October 2007
Approximate dividend payment date Thursday, 25 October 2007
On Monday, 15 October 2007, dividends due to certificated shareholders on the
South African registry will either be electronically transferred to
shareholders` bank accounts or, in the absence of suitable mandates, dividend
cheques will be posted to such shareholders. Shareholders who have
dematerialised their share certificates will have their accounts credited on
Monday, 15 October 2007.
Share certificates may not be dematerialised or rematerialised between Monday, 8
October 2007 and Friday, 12 October 2007, both days inclusive.
On behalf of the board
Pieter Cox Pat Davies Christine Ramon
Chairman Chief executive Chief financial officer
Sasol Limited
10 September 2007
Registered office: Sasol Limited, 1 Sturdee Avenue, Rosebank, Johannesburg 2196,
PO Box 5486, Johannesburg 2000
Share registrars: Computershare Investor Services 2004 (Pty) Limited, 70
Marshall Street, Johannesburg 2001
PO Box 61051, Marshalltown 2107, South Africa, Tel: +27 11 370-5000 Fax: +27 11
370-5271/2
Directors (non-executive): PV Cox (Chairman), E le R Bradley, BP Connellan, HG
Dijkgraaf (Dutch), MSV Gantsho, A Jain (Indian), IN Mkhize, S Montsi, TH
Nyasulu, JE Schrempp (German), TA Wixley
(Executive): LPA Davies (Chief executive), KC Ramon (Chief financial officer),
VN Fakude, AM Mokaba
Company secretary: NL Joubert
American depositary receipt (ADR) program: Cusip number 803866300 ADR to
ordinary share 1:1
Depositary: The Bank of New York, 22nd floor, 101 Barclay Street, New York, NY
10286, USA
e-mail: investor.relations@Sasol.com
Comprehensive additional information is available on our website:
www.Sasol.com
Forward-looking statements: In this report we make certain statements that are
not historical facts and relate to analyses and other information based on
forecasts of future results not yet determinable, relating, amongst other
things, to exchange rate fluctuations, volume growth, increases in market share,
total shareholder return and cost reductions. These are forward-looking
statements as defined in the United States Private Securities Litigation Reform
Act of 1995. Words such as "believe", "anticipate", "intend", "seek", "will",
"plan", "could", "may", "endeavour" and "project" and similar expressions are
intended to identify such forward-looking statements, but are not the exclusive
means of identifying such statements.Forward-looking statements involve inherent
risks and uncertainties and, if one or more of these risks materialise, or
should underlying assumptions prove incorrect, actual results may be very
different from those anticipated. The factors that could cause our actual
results to differ materially from such forward-looking statements are discussed
more fully in our most recent annual report under the Securities Exchange Act of
1934 on Form 20-F filed on 2 November 2006 and in other filings with the United
States Securities and Exchange Commission. Forward-looking statements apply only
as of the date on which they are made, and Sasol does not undertake any
obligation to update or revise any of them, whether as a result of new
information, future events or otherwise.
10 September 2007
Johannesburg
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 10/09/2007 07:05:01 Produced by the JSE SENS Department.
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indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
