Sasol Stock Price, News & Analysis

Sasol (SSL) has announced significant changes to its Board of Directors. Ms Muriel Dube has been appointed as the new Chairman of the Board, effective September 13, 2024. Dube, who joined the Board in 2018, brings extensive experience in sustainability, commercial, finance, and leadership roles. Following Dube's appointment, Dr Martina Flöel has been named the new Lead Independent Director.

The Board has also undergone committee restructuring. Mr David Eyton will now chair the Safety, Social and Ethics Committee and join the Audit Committee and Nomination and Governance Committee. Ms Katherine Harper has been appointed to the Remuneration Committee. These changes aim to leverage the Board's expertise as Sasol progresses towards a sustainable future business.

Sandstorm Gold Royalties (NYSE: SAND, TSX: SSL) has provided updates on drilling and exploration activities across its portfolio of streaming and royalty assets. Key highlights include:

1. Lundin Gold's Bonza Sur gold discovery at Fruta del Norte, with plans for a maiden resource estimate by mid-2025 and a potential new 10,000-15,000 tpd open pit mine.

2. High-grade drill results from Bonterra's Phoenix JV Moss Target, including 38.33 g/t gold over 1.1m.

3. Awalé Resources reported significant gold intercepts at Odienné, including 45.7 g/t gold over 32m at the Charger Zone.

4. Antipa Minerals completed Phase 1 drilling at Minyari Dome, expanding the GEO-01 discovery with near-surface high-grade gold mineralization.

5. Troilus Gold announced a new West Rim Zone discovery near its main deposit, with ongoing drilling to expand resources.

Sasol has filed its annual report on Form 20-F for the financial year ended 30 June 2024 with the US Securities and Exchange Commission (SEC). The report, which includes the annual financial statements, is identical to the version published on 20 August 2024. It is now available on the SEC's website, Sasol's own website, and can be obtained free of charge upon request from Sasol Investor Relations.

The report has also been incorporated into Sasol's Domestic Medium-Term Note programme and is available for inspection. Holders of these notes can access the report through a secure electronic connection if desired.

Sasol (SSL) has announced the appointment of Ms Elizna Viljoen as the new Group Company Secretary, effective January 1, 2025. Viljoen, who brings over 23 years of experience in the company secretarial field, will join Sasol from Anglo American. She holds a B.Com in Marketing Management and is a Fellow of the Chartered Governance Institute of South Africa. The Board of Directors expressed confidence in Viljoen's expertise to fulfill the role's responsibilities. Ms Helaine Joubert, the current Deputy Group Company Secretary, will continue to act as Group Company Secretary until December 31, 2024.

Sasol clarifies its greenhouse gas (GHG) reduction target amid media reports suggesting a possible revision. The company reaffirms its commitment to a 30% reduction by 2030 but is refining pathways to achieve this goal. Sasol emphasizes the need for agility in responding to the changing global landscape and energy security needs. The refinement process may involve shifts in feedstock, energy, and products to support a more sustainable pathway. Sasol is prioritizing value creation opportunities for a balanced approach across People, Planet, and Profit considerations. The company will provide a detailed update at its Capital Markets Day in 2025. Sasol's 2024 Integrated Report, available on their website, outlines more information on their approach.

Sasol (SSL) has published its annual reports for the financial year ended 30 June 2024. The reports include the Integrated Report, Annual Financial Statements, and Tax Report. These documents are now available on Sasol's website and can be obtained free of charge. KPMG, Sasol's external auditors, expressed an unmodified opinion on the annual financial statements. The company's annual report on Form 20-F will be filed with the US Securities and Exchange Commission (SEC) at a later date. Sasol has also updated its report on the application of the King IV corporate governance code, which is now available on their website.

Sasol reported challenging financial results for the year ended 30 June 2024. Key points:

• Turnover decreased 5% to R275.1 billion due to constrained margins and depressed chemicals prices
• Recorded a loss before interest and tax (LBIT) of R27.3 billion compared to EBIT of R21.5 billion in 2023
• Impairment loss of R56.7 billion net of tax, mainly related to Chemicals America assets
• Headline earnings per share fell 66% to R18.19
• No final dividend declared due to net debt exceeding policy threshold
• Changed dividend policy to 30% of free cash flow if net debt below $4 billion
• Stronger operational performance in Q4 partially offset challenging conditions

Sasol (SSL) has announced the appointment of Walt Bruns as its new Chief Financial Officer and executive director, effective September 1, 2024. Bruns, currently the CFO of Sasol Southern Africa, will replace Hanré Rossouw, who is stepping down on August 31, 2024. With 15 years of experience at Sasol and extensive global expertise in chemicals and energy sectors, Bruns is well-positioned for the role. He holds a Bachelor of Commerce degree and is a certified chartered accountant in South Africa. The Board expressed confidence in Bruns' ability to drive sustainable value and support Sasol's strategic transformation.

Sasol (SSL) released a trading statement for the financial year ended 30 June 2024, reporting challenging market conditions. Adjusted EBITDA is expected to decline by 2-17% to between R54.7-64.7 billion. The company reported a net loss of R55.8 billion after tax, primarily due to impairments in its Chemicals America and Africa operations. Basic loss per share is expected to be between R68.82-71.48, compared to EPS of R14.00 in the prior year. Headline earnings per share are expected to decrease by 59-77% to R12.28-21.95. The company also announced the retirement of non-executive director Ms Nomgando Matyumza on 8 September 2024.