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Sasol--results of the AGM, competition compliance
All the resolutions were passed at the AGM and the special resolution will be lodged with the Companies and Intellectual Property Registration Office for registration.
Competition law compliance review
The following statement was made by the company at the annual general meeting: During the course of the past year the company has made several announcements with respect to competition law matters including the review of Sasol and its subsidiaries' ("the Sasol Group") competition law compliance. The board of directors of Sasol ("the board") regrets instances of collusion that occurred in the Sasol Wax GmbH and Sasol Nitro businesses and endorses executive management's unequivocal apology to all stakeholders. Legal compliance in general and competition law compliance specifically remain a priority focus area of Sasol's executive management and the board.
Sasol announced on 19 January 2009 that Sasol's executive management team had, in July 2008, launched a comprehensive competition law compliance review of all Sasol business units. It was further announced that the Board, on recommendation of Sasol's executive management, was also launching its own independent competition law compliance review ("board review").
The board review has now been completed and the board has mandated executive group management to further enhance Sasol's competition law compliance processes and systems. The board supports the remedial steps being taken and, further, believes that the implementation of these measures will augment the competition law compliance processes of the Sasol Group. There are matters that remain subject to investigation. As previously announced the South African Competition Commission has initiated investigations in respect of some of the industries in which Sasol participates. As and when appropriate, management will make further announcements in respect of material matters.
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Sasol signs agreement to invest in Norway
Business Day reported that Sasol has signed an agreement with Gassnova that may allow the company to invest in a carbon capture and storage facility at the Mongstad plant in Norway. The project would cost more than USD1.8 billion.
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Sasol - sustainable development report
Sasol released its annual sustainable development report, Friday, 20 November 2009. The report focuses on Sasol's economic, environmental and social sustainable development performance for the year 2009.
The report is published on Sasol's website at www.sasol.com
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