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Better than expected results anticipated for Sasol
The buoyant oil price should lead to Sasol producing better than expected results for the year. Analysts are predicting a 14% growth in earnings to between 350c and 370c per share. The increase in earnings will be due to lower tax rates, increased tariff protection, an increased holding in Polifin and the depreciating rand. National Petroleum Refiners, a joint venture between Sasol and Total SA, intends to increase its refining capacity by 22%, to 105 000 barrels a day, at a cost of R750m.
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Sasol to acquire shares from Polifin shareholders
Sasol, through subsidiary SCI, has proposed to acquire the entire share capital of Polifin held by shareholders for a cash consideration of 970c per Polifin ordinary share. The offer opens at 09h30 on 26 Aug 99 and closes at 14h30 on 16 Sep 99. Results of the offer will be published on 23 Sep 99 and Polifin shares will be suspended from that date.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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