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SOL
SOL
SOL - Sasol welcomes decision on windfall tax
Sasol Limited
(Incorporated in South Africa)
(Registration number: 1979/003231/06)
ISIN Code: ZAE000006896
Share Code: SOL
NYSE Code: SSL
("Sasol")
Sasol welcomes decision on windfall tax
The South African Minister of Finance, Trevor Manuel, announced today that
National Treasury would not proceed with a windfall tax on the profits earned
by existing synthetic fuel producers. The full statement is available on
National Treasury`s website: www.treasury.gov.za
Sasol warmly welcomes National Treasury`s decision. "Our government`s growth
vision for the synthetic fuel sector is encouraging. We thank the Minister and
the National Treasury team for the constructive manner in which this complex
investigation was conducted. This is a win-win outcome for all," says Sasol
chief executive Pat Davies
Commenting on the decision, Davies says: "We are enthusiastic about the role
we can play in enhancing South Africa`s energy security and have started the
first phase of significantly expanding our existing synthetic fuels capacity
in Secunda, South Africa. We also confirm that we are proceeding with a pre-
feasibility study into a greenfields coal-to-liquids (CTL) facility in
partnership with government." The pre-feasibility study of the project, known
as Project Mafutha, is expected to be completed during 2008.
Sasol also notes government`s aim to create a climate of certainty for the
liquid fuels industry and lay a basis to ensure the success of growth projects
like Mafutha. "We are one of the largest investors in this economy and
believe that Project Mafutha could provide Sasol and our stakeholders with a
further promising investment opportunity. We are optimistic that the proposed
venture will meet both government`s and Sasol`s investment criteria. We look
forward to partnering with government to sustainably address our country`s
energy needs," says Davies.
6 August 2007
Johannesburg
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Forward-looking statements: In this announcement we make certain statements
that are not historical facts and relate to analyses and other information
based on forecasts of future results not yet determinable, relating, amongst
other things, to exchange rate fluctuations, volume growth, increases in
market share, total shareholder return and cost reductions. These are forward-
looking statements as defined in the United States Private Securities
Litigation Reform Act of 1995. Words such as "believe", "anticipate",
"intend", "seek", "will", "plan", "could", "may", "endeavour" and "project"
and similar expressions are intended to identify such forward-looking
statements, but are not the exclusive means of identifying such statements.
Forward-looking statements involve inherent risks and uncertainties and, if
one or more of these risks materialise, or should underlying assumptions prove
incorrect, actual results may be very different from those anticipated. The
factors that could cause our actual results to differ materially from such
forward-looking statements are discussed more fully in our most recent annual
report under the Securities Exchange Act of 1934 on Form 20-F filed on 2
November 2006 and in other filings with the United States Securities and
Exchange Commission. Forward-looking statements apply only as of the date on
which they are made, and Sasol does not undertake any obligation to update or
revise any of them, whether as a result of new information, future events or
otherwise.
Date: 06/08/2007 15:52:19 Produced by the JSE SENS Department. |
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