Sasol Ltd. Files 20-F for FY2024

Ticker: SASOF · Form: 20-F · Filed: Sep 6, 2024 · CIK: 314590

Sentiment: neutral

Topics: 20-f, annual-report, energy, financials

TL;DR

Sasol's 20-F is in: FY24 financials and biz ops detailed. Check it out.

AI Summary

Sasol Ltd. filed its 20-F for the fiscal year ending June 30, 2024. The filing details the company's operations in crude petroleum and natural gas, with its principal executive offices located at 50 Katherine Street, Sandton, South Africa. The report covers financial information and business operations for the period, including details on various share classes and incentive plans.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Sasol's financial performance and operational status for the past fiscal year, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a large company in the volatile energy sector, Sasol faces inherent risks related to commodity prices, geopolitical events, and environmental regulations.

Key Numbers

Key Players & Entities

FAQ

What is the primary industry classification for Sasol Ltd.?

Sasol Ltd. is classified under 'CRUDE PETROLEUM & NATURAL GAS' with SIC code 1311.

What is the fiscal year end date for Sasol Ltd.?

The fiscal year end for Sasol Ltd. is June 30 (0630).

Where are Sasol Ltd.'s principal executive offices located?

Sasol Ltd.'s principal executive offices are located at 50 Katherine Street, Sandton, Johannesburg, 2196.

What is the SEC file number for Sasol Ltd.?

The SEC file number for Sasol Ltd. is 001-31615.

Does the filing mention any specific debt instruments issued by Sasol?

Yes, the filing references Sasol issuing notes such as 'SasolIssued650NotesDue2028Member', 'SasolIssued550NotesDue2031Member', and 'SasolIssued4375NotesDue2026Member'.

Filing Stats: 4,469 words · 18 min read · ~15 pages · Grade level 17.6 · Accepted 2024-09-06 06:31:07

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Table of Contents TABLE OF CONTENTS Page ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 9 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 9 ITEM 3. KEY INFORMATION 9 ITEM 4. INFORMATION ON THE COMPANY 35 ITEM 4A. UNRESOLVED STAFF COMMENTS 61 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 61 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 75 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 84 ITEM 8. FINANCIAL INFORMATION 84 ITEM 9. THE OFFER AND LISTING 85 ITEM 10. ADDITIONAL INFORMATION 85 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 95 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 96 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 97 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 97 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 97 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 100 ITEM 16B. CODE OF ETHICS 100 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 100 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 101 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 101 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 101 ITEM 16G. CORPORATE GOVERNANCE 102 ITEM 16H. MINE SAFETY DISCLOSURE 102 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 102 ITEM 16J. INSIDER TRADING 102 ITEM 16K. CYBERSECURITY 102 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 103 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 103 ITEM 19. EXHIBITS H-1 LOCATION MAPS M-1 3 Table of Contents PRESENTATION OF INFORMATION We are incorporated in the Republic of South Africa as a public company under South African company law. Our audited consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). As used in this Form 20-F: "rand" or "R" means the currency of the Republic of South Africa; "US dollars", "dollars", "US$" or "$" means the currency of the United States (US); and "euro", "EUR" or "" means the common and currency of the member states of the European Monetary Union. We present our financial information in rand, which is our reporting currency. Solely for your convenience, this Form 20-F contains translations of certain rand amounts into US dollars at specified rates as at and for the year ended 30 June 2024. These rand amounts do not represent actual US dollar amounts, nor could they necessarily have been converted into US dollars at the rates indicated. All references in this Form 20 F to "years" refer to the financial years ended on 30 June. Any reference to a calendar year is prefaced by the word "calendar". Besides applying barrels (b or bbl) and standard cubic feet (scf) for reporting oil and gas reserves and production, Sasol applies the Systme International (SI) metric measures for all global operations. A ton, or tonne, denotes one metric ton equivalent to 1 000 kilograms (kg). Sasol's reference to metric tons should not be confused with an imperial ton equivalent to 2 240 pounds (or about 1 016 kg). In addition, in line with a South African convention under the auspices of the South African Bureau of Standards (SABS), the information presented herein is displayed using the decimal comma (e.g., 3,5) instead of the more familiar decimal point (e.g., 3.5) used in the UK, US and elsewhere. Similarly, a hard space

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS We may from time to time make written or oral forward-looking statements, including in this Form 20-F, in other filings with the SEC, in reports to shareholders and in other communications. These statements may 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: rising inflation, supply chain issues, volatile commodity costs and other inflationary pressures exacerbated by geopolitical conflicts and/or instability and subsequent sanctions; the capital cost of our projects, including the Production Sharing Agreement (PSA) project (including material, engineering and construction cost) and the timing of project milestones; our ability to obtain financing to meet the funding requirements of our capital investment programme, as well as our ongoing business activities;

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION 3.A [Reserved] 3.B Capitalisation and indebtedness Not applicable. 3.C Reasons for the offer and use of proceeds Not applicable. 3.D Risk factors This section describes some of the risks that could materially affect, separately or in combination, Sasol's business, operating results, cash flows and financial position. Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business operations. Accordingly, investors should carefully consider these risks. Further background and measures that we use when assessing various risks are set out in the relevant sections of this report, indicated by way of cross references under each risk factor . Summary of Risk Factors Please carefully consider all of the information discussed in this Report for a more thorough description of these and other risks. The risks described below are organised by risk type and are not listed in order of their priority to us or their impact on us. Risks related to our business Cyclicality in petrochemical and refined product margins, supply and demand may adversely affect our business, operating results, cash flows and financial position; 9 Table of Contents Our coal, crude oil, and natural gas reserve estimates may be materially different from quantities and qualities that we eventually recover or ultimately make use of; We may be unable to access, discover, appraise and develop gas resources at a rate and price that is viable to sustain our business and/or enable growth; We may not be able to exploit technological advances quickly enough and successfully, or competitors may develop superior technologies; and Our insurance may not sufficiently cover damage or other potential losses, thereby impacting our business and financial position. Risks related to financial matters We may not be able to repay, extend or refinance our debt in a timely manner or at all, which would have a material adverse e

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