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Sasol - board announcement
The Sasol Board of Directors announced the appointment of Bongani Nqwababa and Stephen Russell Cornell as Joint-Presidents and Chief Executive Officers (“Joint-CEOs”) of the Company, with effect from 1 July 2016, the beginning of the Company’s next financial year. This follows the announcement on 8 June 2015 that David Constable, the President and CEO, had decided not to extend his contract with Sasol beyond 30 June 2016.
Mr Nqwababa is currently Chief Financial Officer of Sasol, and a member of the Sasol Board of Directors and the Group Executive Committee. Mr Cornell is currently the Executive Vice President: International Operations, and a member of the Group Executive Committee.
The Board of Directors of Sasol Limited has also appointed Paul
Victor as Chief Financial Officer and Executive Director, with effect from 1 July 2016. Mr Victor is currently Senior Vice President: Financial Control Services at Sasol, and served as acting Chief Financial Officer from 10 September 2013 to 28 February 2015.
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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, 4 December 2015 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 679 731 562;
- Total number of Sasol’s ordinary shares in issue excluding 8 809 886 treasury shares, being those ordinary shares which are not entitled to vote at the annual general meeting as at the voting record date of Friday, 27 November 2015, is 670 921 676(“Total Votable Ordinary Shares”)
- Total number of ordinary shares in the share capital of Sasol voted in person or by proxy was 522 521 402, being 77% of Sasol’s issued share capital and 78% of the Total Votable Ordinary Shares;
- The total number of shares that abstained from voting did not exceed 3% of the total issued share capital.
- The audited annual financial statements of the Company and of the Sasol group, including the reports of the directors, external auditors, audit committee and the nomination, governance, social and ethics committee for the financial year ended 30 June 2015 were presented.
- Ms V N Fakude, Dr M S V Gantsho, Ms I N Mkhize and Mr S Westwell retired by rotation at the meeting in terms of clause 22.2.1 of the Company’s Memorandum of Incorporation (“Sasol’s MOI”) and were re-elected individually for a further term of office
- PricewaterhouseCoopers Incorporated was automatically re-appointed as the independent auditor of the Company until the next annual general meeting in terms of section 90(6) of the Companies Act, 2008 (“the Act”) and it was noted that Mr Pieter Hough would be the individual registered auditor who would undertake the audit of the Company for the financial year ending 30 June 2016.
- The members of the audit committee, Mr C Beggs, Ms N N A Matyumza, Ms I N Mkhize, Mr M J N Njeke and Mr S Westwell were elected individually for the financial year ending 30 June 2016 in terms of sections 94(4) and 94(5) of the Act, read with Regulation 42 of the Companies Regulations, 2011
- Advisory endorsement on the Company’s remuneration policy for the year ending 30 June 2016 was obtained
- Special Resolution number 1 approving the remuneration payable by the company to the resident non-executive directors of the company for their services as directors with effect from 1 July 2015, was approved
- Special Resolution number 2 to authorise the Board to approve the general repurchase by the Company or purchase by any of its subsidiaries of any of its subsidiaries, of any of the Company’s ordinary shares and/or Sasol BEE ordinary shares was passed
- Special Resolution number 3 to authorise the Board to approve, when any general repurchase by the Company takes place in accordance with special resolution number 2, the purchase by the Company of its issued shares from a director and/or a prescribed officer of the Company, and/or person related to a director or prescribed officer of the Company was passed
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Sasol - appointment of lead independent director
Following the retirement of Prof J E Schrempp as director and lead independent director of the company at the conclusion of the annual general meeting of the company on 4 December 2015, the Sasol board appointed Mr H G Dijkgraaf as lead independent director with effect from after the annual general meeting.
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