JOHANNESBURG, Dec. 21, 2020 /PRNewswire/ -- Sasol is pleased to
announce that a Sale Securities Purchase Agreement has been signed
with Azura Power Limited for the divestment of the Company's full
shareholding in CTRG, the gas-to-power plant located in Ressano
Garcia, Mozambique.
The transaction is subject to a number of conditions precedent,
which include regulatory approval and the waiver of pre-emption
rights held by Electricidade de Mocambique (EDM), the Mozambican
state-owned electricity company.
The consideration will be approximately USD145 million and covers the equity and other
shareholder claims that Sasol holds in CTRG. This will be subject
to any relevant closing adjustments, including those in relation to
working capital.
This transaction is part of the Company's ongoing, strategy
aligned, asset divestment programme. Sasol remains fully committed
to upstream operations in Mozambique, which continue to be integral to
Sasol's strategy.
For further information, please contact:
Sasol Investor Relations,
Tiffany Sydow, Investor Relations
Officer
Telephone: +27 (0) 71 673 1929
investor.relations@sasol.com
Disclaimer - Forward-looking statements
Sasol may, in this document, 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, expectations, developments and business
strategies. Examples of such forward-looking statements include,
but are not limited to, the impact of the novel coronavirus
(COVID-19) pandemic on Sasol's business, results of operations,
financial condition and liquidity and statements regarding the
effectiveness of any actions taken by Sasol to address or limit any
impact of COVID-19 on its business; statements regarding exchange
rate fluctuations, changing crude oil prices , volume growth,
increases in market share, total shareholder return, executing our
growth projects (including LCCP), oil and gas reserves, cost
reductions, our climate change strategy and business performance
outlook. Words such as "believe", "anticipate", "expect", "intend",
"seek", "will", "plan", "could", "may", "endeavour", "target",
"forecast" 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 and others are discussed
more fully in our most recent annual report on Form 20-F filed on
24 August 2020 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.
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SOURCE Sasol Limited