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SOL
SOL
SOL - Sasol Limited - Results Of Annual General Meeting And Update On
Competition Law Compliance Review
Sasol Limited
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Share codes: JSE : SOL NYSE : SSL
ISIN codes: ZAE000006896 US8038663006
("Sasol" or "the Company")
RESULTS OF ANNUAL GENERAL MEETING AND UPDATE ON COMPETITION LAW COMPLIANCE
REVIEW
Sasol shareholders are advised that the results of the business conducted at the
annual general meeting of Sasol held today, Friday 27 November 2009 in
Bryanston, South Africa (including the percentage of total number of shares
voted) are as follows:
1. The financial statements of the Company as well as the reports of the
directors and auditors for the year ended 30 June 2009 were accepted and
adopted.
2. Messrs B P Connellan, H G Dijkgraaf, T A Wixley, Ms V N Fakude and
I N Mkhize retired by rotation at the meeting and were re-elected individually
for a further term of office in terms of Articles 75(d) and 75(e) of the
Company`s Articles of Association:
Directors For Against Abstain
B P Connellan 98.51% 1.44% 0.05%
H G Dijkgraaf 99.90% 0.05% 0.05%
V N Fakude 99.90% 0.05% 0.05%
I N Mkhize 99.76% 0.10% 0.14%
T A Wixley 99.90% 0.05% 0.05%
3. The two directors appointed by the board of directors of Sasol during the
course of the calendar year, Messrs C Beggs and M J N Njeke retired at the
annual general meeting, but were elected individually for a further term of
office in terms of Article 75(h) of the Company`s Articles of Association:
Directors For Against Abstain
C Beggs 99.90% 0.05% 0.05%
M J N Njeke 99.82 0.13% 0.05%
4. KPMG Incorporated was automatically re-appointed as auditors of the Company
until the conclusion of the next annual general meeting and it was noted that Mr
A W van der Lith would be the individual registered auditor who will undertake
the audit of the Company for the financial year ending 30 June 2010.
5. Special Resolution number 1 to authorise the directors of the Company, in
terms of the authority granted in Article 36(a) of the Company`s Articles of
Association, to approve the general repurchase by the Company, or by any of its
subsidiaries, of the Company`s ordinary shares, subject to the provisions of the
Companies Act of 1973, as amended, and subject to the rules and requirements of
the JSE Listings Requirements, was approved:
For Against Abstain
99.11% 0.85% 0.05%
6. Ordinary Resolution number 1 approving the revised annual emoluments payable
by the Company or subsidiaries of the Company with effect from
1 July 2009 to non-executive directors of the Company was approved:
For Against Abstain
98.59% 1.34% 0.07%
The special resolution will be lodged with the Companies and Intellectual
Property Registration Office for registration.
Competition law compliance review
The following statement was made by the Company at the annual general meeting:
During the course of the past year the Company has made several announcements
with respect to competition law matters including the review of Sasol and its
subsidiaries` ("the Sasol Group") competition law compliance.
The board of directors of Sasol ("the Board") regrets instances of collusion
that occurred in the Sasol Wax GmbH and Sasol Nitro businesses and endorses
executive management`s unequivocal apology to all stakeholders. Legal
compliance in general and competition law compliance specifically remain a
priority focus area of Sasol`s executive management and the Board.
Sasol announced on 19 January 2009 that Sasol`s executive management team had,
in July 2008, launched a comprehensive competition law compliance review of all
Sasol business units. It was further announced that the Board, on
recommendation of Sasol`s executive management, was also launching its own
independent competition law compliance review ("Board Review").
The Board Review has now been completed and the Board has mandated executive
group management to further enhance Sasol`s competition law compliance processes
and systems. The Board supports the remedial steps being taken and, further,
believes that the implementation of these measures will augment the competition
law compliance processes of the Sasol Group.
There are matters that remain subject to investigation. As previously announced
the South African Competition Commission has initiated investigations in respect
of some of the industries in which Sasol participates. As and when appropriate,
management will make further announcements in respect of material matters.
27 November 2009
Johannesburg
Issued by Sponsor: Deutsche Securities (SA) (Pty) Limited
Date: 27/11/2009 13:43:25 Produced by the JSE SENS Department.
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