SASOL LIMITED - Decision by Tribunal on Polymer Pricing ReleasedRelease Date: 05/06/2014 17:36:00 Code(s): SOL SOLBE1
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes: JSE: SOL NYSE: SSL
Sasol Ordinary ISIN codes: ZAE000006896 US8038663006
Sasol BEE Ordinary Share code: JSE: SOLBE1
Sasol BEE Ordinary ISIN code: ZAE000151817
(?Sasol? or ?the Company?)
DECISION BY TRIBUNAL ON POLYMER PRICING RELEASED
At the end of 2007, the South African Competition Commission (?the
Commission?) initiated an investigation into the country?s polymers
industry. The investigation included allegations of excessive pricing in the
South African monomer and polymer industries.
The Commission?s complaint was referred to the Competition Tribunal (?the
Tribunal?) in 2010, contending that Sasol Chemical Industries Limited
(currently Sasol Chemical Industries (Pty) Limited), through its Sasol
Polymers division (?SCI?) had, between January 2004 and December 2007,
charged excessive prices for polypropylene and propylene supplied in South
Africa. The matter was ultimately heard by the Tribunal in 2013.
Earlier today, the Tribunal released its decision in respect of SCIs
pricing of propylene and polypropylene. In its decision, the Tribunal found
against SCI in relation to its pricing of both products, for the period in
In respect of purified propylene, the Tribunal imposed an administrative
penalty of R205.2 million. In respect of polypropylene, the Tribunal imposed
a penalty of R328.8 million. In addition, the Tribunal ordered a revised
future pricing of polypropylene and propylene.
Sasol is currently reviewing the Tribunal?s decision and considering the
options available to it, including engaging with the relevant stakeholders
on the way forward.
5 June 2014
Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 05/06/2014 05:36:00 Supplied by www.sharenet.co.za
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