JOHANNESBURG, May 22, 2020 /PRNewswire/ -- 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 US$2 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.
Our 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.
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, statements regarding exchange rate
fluctuations, volume growth, increases in market share, total
shareholder return, executing our growth projects (including LCCP),
oil and gas reserves, cost reductions, our Continuous Improvement
(CI) initiative, 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 28 October 2019 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.
For further information, please contact:
Sasol Investor Relations
Feroza Syed, Chief Investor
Relations Officer
Direct telephone: +27 (0) 82 557 7740
investor.relations@sasol.com
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SOURCE Sasol Limited