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Sasol - further cautionary and trading statement
Sasol refers to the cautionary announcements released on the Stock Exchange News
Service on 17 March 2020 and 31 March 2020, outlining a comprehensive response strategy designed to mitigate the impact of COVID-19 and a lower oil price. The strategy includes a cash conservation programme, an accelerated and expanded asset disposal and partnering programme, as well as a potential rights issue of up to USD2 billion, which remains subject to the progress of other initiatives.
Sasol shareholders are advised that implementation of the response strategy is underway, the outcome of which may have a material effect on the price of the Company’s securities. Accordingly, shareholders are advised to continue exercising caution when dealing in the Company’s securities until full announcements on the asset disposal and partnering programme and the potential rights issue are made.
Trading statement for the financial year ending 30 June 2020
Sasol shareholders are also advised that for the financial year ending 30 June 2020 (FY20) headline earnings per share (HEPS) are expected to decrease by at least 20%, compared to the HEPS of R30.72 reported for the year ended 30 June 2019 (the comparative period). Earnings per share (EPS) are also expected to decrease by at least 20%, compared to EPS of R6.97 reported for the comparative period.
Sasol's FY20 results may be impacted further by adjustments resulting from the year-end closure process, which may result in a change in the estimated EPS and HEPS noted above. A comprehensive trading statement will be published as soon as there is more certainty with respect to the ranges of the decrease in HEPS and EPS.
The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors. Sasol's audited FY20 results will be announced on Monday, 17 August 2020.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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