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Sasol -- AGM results
Sasol shareholders are advised that the results of the business conducted at the annual general meeting held on Friday, 21 November 2014 at the Hyatt Regency Hotel, 191 Oxford Road, Rosebank, Johannesburg, South Africa are as follows:
- Total number of Sasol's ordinary shares in issue is 679 172 662;
- Total number of Sasol's ordinary shares in issue excluding 8 809 886 shares, being those ordinary shares which are not entitled to vote at the annual general meeting, is 670 362 776(Total Votable Ordinary Shares);
- Total number of ordinary shares in the share capital of Sasol voted in person or by proxy was 501 814 969, being 74.86% of the Total Votable Ordinary Shares;
- The total number of shares that abstained from voting did not exceed 2.31% of the total issued share capital.
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Sasol changes to segment reporting
One of the cornerstones of Sasol's past successes stemmed from its diverse businesses and activities being organised along an integrated value chain. While Sasol's value chain remains integrated, over the past decade the group established and drove independent businesses within Sasol founded on a product-based operating model. Over time, organising Sasol's businesses in this manner resulted in increased complexity, leading to slower decision-making, higher costs and greater time required for internal alignment and co- ordination. To bring greater focus and increased simplicity to how Sasol is structured and managed, the group has streamlined Sasol's corporate structures and reorganised Sasol's businesses from a product-based operating model to one based on Sasol's value chain.
Sasol's new operating model, and a simplified and consolidated legal structure, came into effect on 1 July 2014. The new operating model aligns the components of Sasol - operating business units, regional operating hubs, strategic business units, and group functions
according to a single value chain, focused on the production of liquid fuels, high-value chemicals and low-carbon electricity, as outlined below:
- The Operating Business Units comprise Sasol's mining and upstream oil and gas activities, focusing mainly on securing feedstock supply;
- The Regional Operating Hubs include Sasol's operations in Southern Africa, United States and Eurasia, focusing on sustaining asset management and performance while delivering to plan and optimising the total cost of production;
- The Strategic Business Units focus on Sasol's commercial and enhanced customer interfaces within the energy and chemicals arenas, and on optimising business performance through marketing and sales excellence; and
- Sasol's group functions deliver fit-for-purpose business support services and solutions.
To reflect Sasol's new operating model, Sasol's financial reporting has been updated and new reportable segments will accordingly be restated and presented in the group financial statements for 2015. To keep Sasol's stakeholders informed, and to assist investors during Sasol's transition, this document provides information on the restated segment disclosures for the financial years ended 30 June 2014 and 2013, and for the six months ended 31 December 2013. Additional supplementary information, which includes a segment overview document, is available on Sasol's website at www.sasol.com.
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Sasol report available
Sasol released its 2014 Sustainable Development Report and is available electronically via its website www.sasol.com.
The annual Sustainable Development Report provides all stakeholders with a review of Sasol's material sustainability focus areas that affect the long- term success of the business, and that relate to any significant impacts the company has on the economy, environment and society.
Sasol is recognised globally as a leader in integrated reporting and sustainable development, having won international awards by Report Watch, as well as recognition by EY's Excellence in Integrated Reporting Awards.
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