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SOL
SOL
SOL - Sasol Limited - Amendment Of Settlement Agreement With Competition
Commission
Sasol Limited
(Incorporated in South Africa)
Registration number: 1979/003231/06
ISIN Code: ZAE000006896
JSE Code: SOL
NYSE Code: SSL
("Sasol")
Amendment of Settlement Agreement with Competition Commission
Since the previously announced Settlement Agreement was concluded with the
Competition Commission ("the Commission") in respect of competition law
contraventions in the fertilizer and phosphoric acid businesses of Sasol Nitro,
Sasol has continued its internal investigations. It is only now after intensive
repeat interviews with employees and former employees that additional new
information relevant to one of the previously announced contraventions in the
fertilizer business has been uncovered. Sasol tendered the information to the
Commission as soon as it was verified, in line with its commitment to co-operate
with the Commission.
In view of the new information Sasol tendered an amendment to the Settlement
Agreement to expand the scope of the admissions that Sasol made in respect of
the anti-competitive conduct in the fertilizer industry. The Commission agreed
to the amendments, but indicated that the amendment would require an increase in
the administrative fine that Sasol agrees to pay in terms of the settlement
agreement from R188,01 million to R250,68 million. The information changed the
Commission`s view of the nature and seriousness of one of the matters covered by
the settlement agreement. The Settlement Agreement was amended yesterday to
reflect these changes and submitted to the Competition Tribunal for
confirmation. The application for confirmation of the Settlement Agreement will
be heard by the Competition Tribunal tomorrow, Wednesday 20 May 2009.
19 May 2009
Johannesburg
Issued by Sponsor: Deutsche Securities (SA) (Pty) Limited
Disclaimer - Forward looking statements
In this announcement we make certain statements that are not historical
facts and relate to analyses and other information which are based on
forecasts of future results and estimates of amounts not yet determinable.
These statements may also relate to our future prospects, developments and
business strategies. Examples of such forward-looking statements include,
but are not limited to, statements regarding exchange rate fluctuations, volume
growth, increases in market share, total shareholder return and cost reductions.
Words such as "believe", "anticipate", "expect", "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. By their very nature, forward-looking
statements involve inherent risks and uncertainties, both general and specific,
and there are risks that the predictions, forecasts, projections and other
forward-looking statements will not be achieved. If one or more of these risks
materialise, or should underlying assumptions prove incorrect, our actual
results may differ materially from those anticipated. You should understand that
a number of important factors could cause actual results to differ materially
from the plans, objectives, expectations, estimates and intentions expressed in
such forward-looking statements. These factors are discussed more fully in our
most recent annual report under the Securities Exchange Act of 1934 on Form 20-F
filed on 7 October 2008 and in other filings with the United States Securities
and Exchange Commission. The list of factors discussed therein is not
exhaustive; when relying on forward-looking statements to make investment
decisions, you should carefully consider both these factors and other
uncertainties and events. Forward-looking statements apply only as of the date
on which they are made, and we do not undertake any obligation to update or
revise any of them, whether as a result of new information, future events or
otherwise.
Date: 19/05/2009 14:00:03 Produced by the JSE SENS Department.
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