Sasol Limited - European Court Substantially Reduces Fine Imposed On SasolRelease Date: 11/07/2014 17:30:00 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
EUROPEAN COURT SUBSTANTIALLY REDUCES THE FINE IMPOSED ON SASOL
FOR ITS INVOLVEMENT IN THE EUROPEAN PARAFFIN WAX CARTEL
In October 2008, the European Commission imposed a fine of
EUR 318.2 million on Sasol Wax GmbH and other Sasol group
companies, including Sasol Limited (?Sasol?) for Sasol Wax?s
involvement in the European paraffin wax cartel. The fine was
paid in full by Sasol in January 2009. Sasol viewed the fine as
excessive and, in December 2008, applied to the European General
Court in Luxemburg for a reduction of the fine. Today, the
European General Court reduced the fine by an amount of
EUR 168.22 million to EUR 149.98 million. The European
Commission has the right to appeal the decision.
In 1995, Sasol became a co-shareholder in an existing wax
business located in Hamburg, Germany, owned by the Schumann
group. In July 2002, Sasol acquired the remaining shares in the
joint venture and became the sole shareholder of the business.
Sasol was unaware of any cartel activities, before the European
Commission commenced its investigation into the European
paraffin wax industry in April 2005.
Sasol will account for this as a post balance sheet adjusting
event. The effect of the reduced fine will be accounted for in
Sasol?s FY14 income statement.
11 July 2014
Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 11/07/2014 05:30:00 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department . The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.