Sasol applies sound corporate governance structures and processes, which the board considers pivotal to delivering sustainable growth in the interests of all stakeholders. Sasol’s values-driven culture and code of ethics underpin its governance structures and processes, committing the company to high standards of business integrity and ethics in all its activities. Governance structures and processes are reviewed regularly, and adapted to accommodate internal developments and reflect national and international best practice.
The board considers corporate governance to be a priority and endeavours to go beyond minimum compliance where appropriate. The board will therefore consider all new non-statutory corporate governance concepts carefully and will implement them if they are deemed to be in Sasol’s best interests. The application of governance requirements should facilitate, not detract from, the directors’ ability to execute their statutory and fiduciary responsibilities, and their duty of care and skill. The nomination, governance, social and ethics committee and the board continue to review and benchmark the group’s governance structures and processes to ensure they support effective and ethical leadership, good corporate citizenship and sustainability.
Sasol’s ordinary shares and Sasol BEE ordinary shares are listed on the Johannesburg Stock Exchange operated by the JSE Limited (JSE). Sasol is also listed on the New York Stock Exchange (NYSE) for the purpose of registering the company’s American Depositary Shares with the United States Securities and Exchange Commission (SEC). Accordingly, the company is subject to, and has implemented controls to provide reasonable assurance of its compliance with, all relevant requirements in respect of its listings. These include the South African Companies Act, no 71 of 2008 (the SA Companies Act) and the JSE Listings Requirements, and SEC, NYSE and US legal requirements such as the Sarbanes-Oxley Act of 2002 (SOX) in so far as they apply to foreign companies listed on the NYSE.