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Sasol appoints Fakude to the board
Sasol has announced the appointment of Ms Nolitha Fakude as an executive director with effect from 1 October 2005. Ms Fakude will assume responsibility for the world-wide Human Resources and Strategy functions of the group. She will be a member of both the Sasol board and the group executive committee and will be appointed as a director of various group companies and divisions.
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Sasol publishes Investor Insight
Sasol has published Investor Insight, a newsletter aimed at investors interested in Sasol, on its website. Some of the highlights in this issue include a quarterly review of Sasol`s mining, fuel and chemical businesses, a closer look at Sasol`s plans to invest in coal-to-liquids plants in China as well as updates on major projects under way in South Africa, Iran, Qatar and Nigeria. The newsletter can be accessed as follows: http://www.sasol.com/sasol_internet/frontend/navigation.jsp?navid=5600002&rootid =3.
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Sasol's share price rises to a historic high
Business Report stated that Sasol`s share price rose above the R200.00 mark for the first time to close at R205.99 on 13 July 05, 4.5% higher than the previous day.
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Sasol to appoint first black executive
Carli Lourens` article in Business Day on 11 July 05 noted that Sasol may appoint its first black executive by the second week in August 05
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Sasol announces hedging transaction
Sasol announces that due to continuing volatility in oil markets and considering its capital expenditure plans and the merits of improving the stability of its cash flows, it has for its financial year which started 1 July 2005, entered into hedging transactions (zero cost collars) for 45 000 barrels of oil (dated Brent) per day (equivalent to approximately 30% of its synfuels production). In terms of this hedge Sasol will be protected, should monthly average oil prices decrease below USD45.00 per barrel on the hedged portion of production, and conversely Sasol will incur opportunity losses on the hedged portion of production should monthly average oil prices exceed USD82.61 per barrel. This follows Sasol`s announcement in May 2004 that it had embarked on a modest hedging programme in respect of its exposure to the oil price, with the objective of improving the stability of its cash flows in light of its capital expenditure plans for its financial year that commenced on 1 July 2004. That programme was concluded in May 2005. Sasol announced at the time that going forward it intended to review the merits of hedging a portion of its synfuels production each financial year. Appropriate disclosure of this hedging will also be made in our 2005 annual report and Form 20-F.
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Sasol revises HEPS and EPS expectations
On 25 April 2005, Sasol issued a trading statement advising that it anticipated rand attributable earnings and earnings per share for the financial year ending 30 June 2005 to be between 45% and 55% higher than those achieved in the previous financial year. The trading statement also advised that headline earnings were expected to increase by between 55% and 65% compared to the previous financial year. At the time the trading statement was issued, the rand was trading at about R6.00 : USD1.00 and international oil prices were about USD52.60 per barrel. During the intervening period through to end-June 2005, the rand weakened by more than 10% and oil prices increased by approximately 5%.
Primarily as a consequence of these factorsrand attributable earnings and earnings per share for the full financial year ended 30 June 2005, are expected to be between 55% and 60% higher than those achieved in the previous financial year. Impairment tests on all material assets have been undertaken as a part of the year-end accounting exercise. Primarily because of anticipated impairments and other capital effects including non-recurring income and proceeds from asset disposals in the previous year, it is also expected that rand headline earnings and headline earnings per share should be between 80% and 85% better than those achieved in the previous financial year. This revised view has not been audited or reviewed by the company`s auditors.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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