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Sasol to convert 8.5% debentures
Sasol is to compulsorily convert its 56 382 400 8.5% automatically convertible subordinated debentures into ordinary shares on a 1:1 basis on 24 Nov 00 (with effect from 26 Jun 00). The conditions of the debentures state that they will be converted into ords when the aggregate of the interim and final dividend exceeds 157.25c, being the interest paid on the debenture.
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Sasol reopens its Durban plant
Sasol's Durban polymer plant has been reopened following the chlorine gas leak that took place on 14 Sep 00. Government has decided to let Sasol reopen the plant, subject to conditions, rather than demanding its closure.
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Sasol plant closed after gas leak
Sasol's polymers chlorine plant at Umbogintwini in KwaZulu-Natal has been forced to close by the province's agricultural and environmental MEC after its third gas leak this year. 4 people were hospitalised and a further 23 treated.
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Sasol and Chevron in Nigerian deal
Sasol and US oil company Chevron are preparing a R14m joint venture in Nigeria to build a fuel from gas plant at Escravos. The project should deliver 34 000 barrels a day and should be operational by 2004. It will utilise gas that was previously flared off and will also produce naphtha, which is used as feedstock in the chemicals industry.
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Sasol signs R500m gas deal with Egoli consortium
Sasol has signed a R500m gas deal with a consortium made up of US energy group Cinergy Global Power and black empowerment group Egoli Empowerment Holdings for the supply of gas to greater Johannesburg's Metro Gas. Sasol will supply hydrogen rich gas at its Sasolburg plant at a rate of about 2.5m gigajoules per year for 20 years, with the potential to increase this to 7 gigajoules per year over the duration of the agreement.
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