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 | DISPOSAL OF AIR SEPARATION UNITS BY
SASOL SOUTH AFRICA LIMITED; TRADING STATEMENT UPDATE 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”)
DISPOSAL OF AIR SEPARATION UNITS BY SASOL SOUTH AFRICA LIMITED;
TRADING STATEMENT UPDATE AND FURTHER CAUTIONARY ANNOUNCEMENT
DISPOSAL OF AIR SEPARATION UNITS BY SASOL SOUTH AFRICA LIMITED;
TRADING STATEMENT UPDATE AND FURTHER CAUTIONARY ANNOUNCEMENT
SALE OF AIR SEPARATION UNITS BY SASOL SOUTH AFRICA LIMITED
Sasol is pleased to announce that Sasol South Africa Limited (“SSA”), a Major
Subsidiary of Sasol, has signed an exclusive negotiation agreement with Air Liquide
for the sale of its sixteen air separation units located in Secunda to Air Liquide Large
Industries South Africa Proprietary Limited (“Air Liquide”). The proceeds will total
approximately R8,5 billion.
The air separation units, which have a capacity of up to 42 000 tons per day, provide
oxygen for Sasol’s fuels and chemical production processes in Secunda as well as
producing various other gases utilised at the site. Air Liquide will supply the gases to
SSA’s operations under a long-term gas supply agreement. It is anticipated that Air
Liquide’s expertise would allow, in coordination with Sasol, a targeted reduction in
greenhouse gas emissions (GHG) associated with the oxygen production over the
coming years, which will contribute towards the GHG reduction for the overall
Secunda site.
Air Liquide has been present on the Secunda site since 1979, and already owns and
operates the seventeenth air separation unit, which was commissioned in January
2018. Air Liquide owning and operating the full air separation fleet is expected to
provide optimisation of management of the assets and energy efficiency benefits.
The transaction remains subject to further due diligence, finalisation of relevant
definitive agreements and associated internal and external approvals, including the
Competition Commission and the South African Reserve Bank. The parties aim to
negotiate final agreements by mid August, and a further announcement will be made
at that time. The transaction is currently expected to close within financial year 2021.
This transaction forms part of Sasol’s accelerated divestment programme as part of
Sasol’s comprehensive response plan announced on 17 March 2020.
RELEASE OF TRADING STATEMENT UPDATE
Our accelerated asset disposal programme is impacting the completion of our
year-end processes. We anticipate the release of a trading statement update
early in August 2020.
FURTHER CAUTIONARY ANNOUNCEMENT
Sasol refers to the SENS announcements released on the Stock Exchange News
Service (“SENS”) on 17 March 2020, outlining a comprehensive response strategy
designed to mitigate the impact of a lower oil price and COVID-19. 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. A further SENS announcement was released
on 1 July 2020, updating investors on the progress regarding the asset disposal
programme.
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
disposal of the air separation units, the asset disposal programme and the potential
rights issue are made.
29 July 2020
Johannesburg
Sponsor: Merrill Lynch South Africa Proprietary Limited
Our accelerated asset disposal programme is impacting the completion of our
year-end processes. We anticipate the release of a trading statement update
early in August 2020.
FURTHER CAUTIONARY ANNOUNCEMENT
Sasol refers to the SENS announcements released on the Stock Exchange News
Service (“SENS”) on 17 March 2020, outlining a comprehensive response strategy
designed to mitigate the impact of a lower oil price and COVID-19. 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. A further SENS announcement was released
on 1 July 2020, updating investors on the progress regarding the asset disposal
programme.
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
disposal of the air separation units, the asset disposal programme and the potential
rights issue are made.
29 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.
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: 29 July 2020
has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: 29 July 2020
By:
/s/ M M L Mokoka
Name:
M M L Mokoka
Title:
Company Secretary