Johannesburg, South Africa – Sasol and Solidarity held a further conciliation hearing today with the Commission for Conciliation, Mediation and Arbitration (CCMA) on a dispute by Solidarity regarding Tier 2 of the Sasol Khanyisa employee share ownership plan (ESOP) by designated employee groups.
The conciliation hearing followed earlier CCMA hearings by the two parties held on 9 and 25 May 2018. This followed an initial referral of a discrimination dispute to the CCMA by Solidarity that it subsequently withdrew.
At the conciliation hearing, Sasol and Solidarity could not reach agreement to settle the dispute. As such, the Commissioner issued a certificate of non-resolution. This outcome means that Solidarity could embark on a protected strike after giving Sasol 48-hours’ notice. A certificate of non-resolution does not imply that Solidarity is correct nor that Sasol is wrong on this dispute. The CCMA outcome means that middle ground could not be found on Tier 2 of Sasol Khanyisa ESOP. It gives permission to Solidarity to withdraw labour and protest in a safe manner.
Both parties will reconvene on 4 July 2018 to establish picketing rules that would apply in the event of a strike. At this stage, Sasol has not yet received a strike notice from Solidarity.
The Sasol Khanyisa ESOP is not a company benefit or compensation scheme. It was specifically designed to address the ownership component of the Broad-based Black Economic Empowerment (B-BBEE) Codes and therefore primarily focuses on the inclusion of Black employees, as defined by the Codes.
As a responsible South African corporate citizen, it is Sasol’s ethical duty to take decisive action to redress the injustices of South Africa’s past. Sasol Khanyisa, Sasol’s new B-BBEE ownership structure, is one of the key focus areas of the company’s broader transformation strategy.
Transformation, in the form of share ownership in Sasol South Africa by previously disadvantaged groups, is an important ethical, social and business imperative for Sasol.
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Please note: One billion is defined as one thousand million. bbl – barrel, bscf – billion standard cubic feet, mmscf – million standard cubic feet, oil references brent crude, mmboe – million barrels oil equivalent. All references to years refer to the financial year 30 June. Any reference to a calendar year is prefaced by the word “calendar”.
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