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Sasol Statement on Solidarity | UPDATE Monday 17 September

Date: 
17 September 2018

Safe conditions

 

Sasol notes Solidarity’s claims that conditions at our Sasolburg Operations are unsafe. We do not agree with this claim and there is no indication that safety at our operations has been compromised. We are engaging the Department of Labour in this regard, as well as the local licensing authorities.

 

Safety is a value at Sasol and we prioritise the safety and wellbeing of all personnel at all our operations.

 

Sasolburg Operations

 

Although there were some employees who did not arrive at the shift change at our Sasolburg Operations over the weekend, we activated contingency plans to minimise potential interruption to those particular activities.  We have internal industrial relations processes within Human Resources that all employees have the right of recourse on any concerns or problems that may arise.

 

Secunda Operations

 

As previously stated, with the demonstration at our Secunda Operations on 6 September, we experienced a temporary decrease in attendance by Solidarity members. This led to a decrease and delay in some planned activities to which Solidarity alludes.

 

Separately to the scheduled shutdown at our Secunda Operations, there are other projects underway. Some of these projects experienced some slippage due to technical challenges but these have been resolved and the projects are virtually complete.

 

We continue to ensure that our running operations and shutdown schedule progress safely, as planned, while closely monitoring the situation.

 

Engagement with Solidarity

 

Furthermore, Sasol has agreed to participate in the CCMA mediation process with Solidarity commencing 19 September 2018.

 

National Bargaining Council

The National Bargaining Council for the Chemical Industry (NBCCI) has withdrawn its suspension of our shutdown variation licence with immediate effect. The variation licence remains active.

 

Sasol may, in this document, make certain statements that are not historical facts that 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, 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 and cost reductions, including in connection with our BPEP, RP and our 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 are discussed more fully in our most recent annual report on Form 20-F filed on 28 August 2018 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.
 
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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