Sasol Ltd 6-K, filed Jul 1, 2020
Sasol Ltd (SSL)
6-K
2020-07-01
For: 2020-07-01
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Added on
April 11, 2026
About this 6-K
Sasol Ltd filed this 6-K on July 1, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K for July, 2020
Commission File Number 1-31615
Sasol Limited
50 Katherine Street
Sandton 2196
South Africa
(Name and address of registrant’s principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.
Form 20-F __X__
Form 40-F _____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1):
Regulation S-T Rule 101(b)(1):
Yes _____
No __X__
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7):
Regulation S-T Rule 101(b)(7):
Yes _____
No __X__
Indicate by check mark whether the registrant by furnishing the information contained in this
Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
Yes _____
No __X__
Enclosures: SASOL LIMITED | PROGRESS WITH ASSET SALES
AND FURTHER CAUTIONARY ANNOUNCEMENT
Sasol Limited
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes:
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes:
JSE: SOL
NYSE: SSL
Sasol Ordinary ISIN codes:
ZAE000006896
US8038663006
Sasol BEE Ordinary Share code:
JSE: SOLBE1
Sasol BEE Ordinary ISIN code:
ZAE000151817
(“Sasol” or “Company”)
PROGRESS WITH ASSET SALES AND FURTHER CAUTIONARY ANNOUNCEMENT
ESCRAVOS GAS-TO-LIQUIDS (GTL)
Sasol and Chevron have signed an agreement that will result in Sasol selling its indirect
beneficial interest in the Escravos GTL (EGTL) plant in Nigeria to Chevron. The transaction will
release Sasol from associated company guarantees and other obligations. Sasol will continue
to support Chevron in the performance of the EGTL plant through ongoing catalyst supply,
technology and technical support.
The transaction has an agreed economic effective date of 1 September 2019.
PROGRESS WITH ASSET SALES AND FURTHER CAUTIONARY ANNOUNCEMENT
ESCRAVOS GAS-TO-LIQUIDS (GTL)
Sasol and Chevron have signed an agreement that will result in Sasol selling its indirect
beneficial interest in the Escravos GTL (EGTL) plant in Nigeria to Chevron. The transaction will
release Sasol from associated company guarantees and other obligations. Sasol will continue
to support Chevron in the performance of the EGTL plant through ongoing catalyst supply,
technology and technical support.
The transaction has an agreed economic effective date of 1 September 2019.
EXPLOSIVES JOINT VENTURE
In October 2019 Sasol announced its intention to form a new explosives partnership with Enaex
S.A. Sasol has concluded the transaction to sell a 51% share in the business to Enaex, and on
1 July 2020, Enaex Africa in association with Sasol, will officially start operating in South Africa
and on the African Continent.
These transactions form part of Sasol’s accelerated divestment programme to streamline our
portfolio by focusing on core assets, which will enable Sasol’s repositioning over the following
24 months.
OTHER DIVESTMENTS
Divestment processes are well underway with respect to Sasol’s equity interests in the
Republic of Mozambique Pipeline Investment Company (Pty) Ltd (ROMPCO) pipeline and the
Central Termica de Ressano Garcia (CTRG) gas-fired power plant in Mozambique, and
partnering discussions in relation to the Base Chemicals assets in the USA are far advanced.
Further updates on these and other disposals will be provided as and when appropriate.
FURTHER CAUTIONARY ANNOUNCEMENT
Sasol refers to the cautionary announcements released on the Stock Exchange News Service
on 17 March 2020 and 31 March 2020, outlining a comprehensive response strategy designed
to mitigate the impact of COVID-19 and a lower oil price. The strategy includes a cash
conservation programme, an accelerated and expanded asset disposal programme, as well as
a potential rights issue of up to US$2 billion which remains subject to the progress of other
initiatives.
Sasol shareholders are advised that implementation of the response strategy is underway, the
outcome of which may have a material effect on the price of the Company’s securities.
Accordingly, shareholders are advised to continue exercising caution when dealing in the
Company’s securities until full announcements on the asset disposal programme and the
potential rights issue are made.
1 July 2020
Johannesburg
Sponsor: Merrill Lynch South Africa Proprietary Limited
Disclaimer - Forward-looking statements
Sasol may, in this document, make certain statements that are not historical facts and relate to
analyses and other information which are based on forecasts of future results and estimates of
amounts not yet determinable. These statements may also relate to our future prospects,
expectations, developments and business strategies. Examples of such forward-looking
statements include, but are not limited to, the impact of the novel coronavirus (COVID-19)
pandemic on Sasol’s business, results of operations, financial condition and liquidity and
statements regarding the effectiveness of any actions taken by Sasol to address or limit any
impact of COVID-19 on its business; statements regarding exchange rate fluctuations,
changing crude oil prices , volume growth, increases in market share, total shareholder return,
executing our growth projects (including LCCP), oil and gas reserves, cost reductions, our
climate change strategy and business performance outlook. Words such as “believe”,
“anticipate”, “expect”, “intend", “seek”, “will”, “plan”, “could”, “may”, “endeavour”, “target”,
“forecast” and “project” and similar expressions are intended to identify such forward-looking
statements, but are not the exclusive means of identifying such statements. By their very
nature, forward-looking statements involve inherent risks and uncertainties, both general and
specific, and there are risks that the predictions, forecasts, projections and other forward-
looking statements will not be achieved. If one or more of these risks materialise, or should
underlying assumptions prove incorrect, our actual results may differ materially from those
anticipated. You should understand that a number of important factors could cause actual
results to differ materially from the plans, objectives, expectations, estimates and intentions
expressed in such forward-looking statements. These factors and others are discussed more
fully in our most recent annual report on Form 20-F filed on 28 October 2019 and in other
filings with the United States Securities and Exchange Commission. The list of factors
discussed therein is not exhaustive; when relying on forward-looking statements to make
investment decisions, you should carefully consider both these factors and other uncertainties
and events. Forward-looking statements apply only as of the date on which they are made,
and we do not undertake any obligation to update or revise any of them, whether as a result of
new information, future events or otherwise.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant, Sasol Limited,
has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: 1 July 2020
has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: 1 July 2020
By:
/s/ M M L Mokoka
Name:
M M L Mokoka
Company Secretary
Title: