SSL - Sasol Limited
19.37 0.00 (0.00%)
After hours: 4:17PM EDT
| Previous Close | 19.58 |
| Open | 19.48 |
| Bid | 19.37 x 800 |
| Ask | 19.39 x 1400 |
| Day's Range | 19.36 - 19.66 |
| 52 Week Range | 16.92 - 39.64 |
| Volume | 135,681 |
| Avg. Volume | 226,526 |
| Market Cap | 12.25B |
| Beta (3Y Monthly) | 1.02 |
| PE Ratio (TTM) | 18.50 |
| EPS (TTM) | 1.05 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.98 (5.17%) |
| Ex-Dividend Date | 2019-03-14 |
| 1y Target Est | 30.50 |
- Bloomberg
Sasol Is Said to Plan Sale of Its South Africa Coal Mining Unit
(Bloomberg) -- Sasol Ltd. is planning to sell its South African coal-mining business, according to people familiar with the matter.The company will begin a formal sales process in the coming weeks, said the people, who asked not to be identified as the information isn’t public yet. The mining business had turnover of 20 billion rand ($1.4 billion) in the 2018 financial year, according to the company’s financial report, mostly from internal sales to Sasol’s other operations.The company is the world’s biggest manufacturer of fuel from coal, an energy-intensive process. Sasol’s coal mines produce about 40 million tons of coal a year, almost entirely for use in its own operations, according to its website.The company would plan to sign a coal-purchase agreement with whoever buys the asset, said one of the people.Sasol announced a long-term review process in November 2017 that would involve disposing of some assets at prices that ensure value for the company, it said in an emailed response to questions, while declining to comment directly on a possible mine sale.“We do not wish to comment at this stage on which assets have been earmarked for divestment, since they form a part of a disciplined and confidential M&A process,” it said. “Sasol will update the market as and when appropriate regarding progress on the asset review process.”The mine sale plan comes as Sasol grapples with cost overruns and delays at its giant U.S. chemicals project. Selling its coal mines may also help Sasol reduce its environmental liabilities at a time when more investors are focusing on how businesses affect climate change.The Lake Charles chemical plant in Louisiana, which is starting up this year, will transform Sasol’s production mix to focus on chemicals. Yet the company has lurched from one setback to the next, with the project now estimated to cost as much as $12.9 billion, about 50% more than initially planned.Sasol’s shares have tumbled 48% in the past 12 months. Besides the cost overruns and startup delays, the company has also twice postponed its annual financial results while it completes an investigation into what went wrong at Lake Charles.The company said in May it would accelerate the previously announced asset sale program. It said on Wednesday the company would “proceed only if there is value for Sasol and we will not sell assets at sub-optimal prices.”To contact the reporters on this story: Loni Prinsloo in Johannesburg at lprinsloo3@bloomberg.net;Paul Burkhardt in Johannesburg at pburkhardt@bloomberg.netTo contact the editors responsible for this story: James Herron at jherron9@bloomberg.net, ;Gordon Bell at gbell16@bloomberg.net, Liezel Hill, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- GlobeNewswire
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of Sasol Limited
NEW YORK, Sept. 13, 2019 -- Levi & Korsinsky notifies investors that it has commenced an investigation of Sasol Limited (“Sasol” or “the Company”) (NYSE: SSL) concerning.
- PR Newswire
SOL: Sasol Limited Update on Independent Board Review and Release of 2019 Annual Financial Results
JOHANNESBURG, Sept. 6, 2019 /PRNewswire/ -- On 16 August 2019, Sasol announced that the Board of Directors of Sasol (the Board) had decided to delay the announcement of the Company's financial results for the year ended 30 June 2019 (2019 financial results) which were due to be released on 19 August 2019 and that the Board expected to release them on 19 September 2019. This delay was to allow for the completion of the assessment of possible internal control weaknesses identified during the independent review announced by the Board previously.
- Reuters
UPDATE 1-South African petrochemicals group Sasol's results delayed again
South African petrochemicals company Sasol's 2019 finical results will be delayed further after additional work was commissioned under a review at its U.S. ethane cracker project, it said on Friiday, sending its share price lower. Sasol has delayed release of its 2019 financial results to a date some time before the end of next month, spokesman Alex Anderson said. "The board has resolved to commission additional work under the independent review and to stipulate for in-depth investigation into certain aspects contemplated under the original scope," Sasol said in a statement on Friday.
- Rigzone.com
Sasol Delays 2019 Results Again
Sasol delayed its annual financial results for a second time to allow for a more in-depth investigation into what went wrong during construction of its $13 billion Louisiana chemical project.
- Bloomberg
Sasol Investors Suggest Co-CEO Cornell Go After Cost Surge
(Bloomberg) -- Sasol Ltd. has been asked by some of the country’s biggest fund managers to consider executive changes including ousting Stephen Cornell, one of two chief executive officers, over cost overruns at a flagship project, according to people familiar with the matter.The money managers began meeting with Sasol’s board and leadership after it raised the estimated cost of the Lake Charles plant in Louisiana by $1 billion on May 22, having increased it only three months earlier. Investors including Allan Gray Ltd. and Coronation Fund Managers Ltd. want management to take responsibility for the escalation in costs at the $13 billion chemicals project, the people said, asking not to be identified. Allan Gray and Coronation confirmed they met with Sasol but declined to comment on the content of the discussions.The companies both own stock in Sasol and are South Africa’s third and fifth biggest fund managers.Some investors also questioned the need for the company, which is South Africa’s biggest by revenue, to have co-CEOs, the people said. They suggested that Cornell leave and Bongani Nqwababa be retained.Cornell has been more involved in the Lake Charles project and is paid more than Nqwababa, boosting costs, they said. In the year ended June 2018, Cornell was paid 46.3 million rand ($3 million) in salary, benefits and incentives, while Nqwababa made 25.9 million rand, according to the company’s annual report.“It would not be appropriate for Sasol to comment on behalf of its shareholders,” the company said in an emailed response to questions. Earlier this month, Sasol confirmed that it met with a number of shareholders to “hear their views, concerns and expectations.”Concern has grown over the costs of Lake Charles with Sasol on Aug. 16 delaying its annual results, saying that it hadn’t completed a review of the problems at the project.Since the May announcement, the stock has fallen 34%, the most on an index of the 40 biggest companies traded in Johannesburg. Sasol, which produces chemicals around the world and motor fuel from coal in South Africa, has a market value of 176 billion rand. The stock rose as much as 0.8% in Johannesburg on Friday.Cornell has held his position at Sasol since mid-2016, after serving as executive vice president of international operations for the company for the previous two years. Before that he worked for BP Plc.(Adds shares in second last paragraph. An earlier version of the story was corrected to show that Allan Gray and Coronation did not comment on what was discussed with Sasol.)To contact the reporters on this story: Loni Prinsloo in Johannesburg at lprinsloo3@bloomberg.net;Antony Sguazzin in Johannesburg at asguazzin@bloomberg.netTo contact the editors responsible for this story: John McCorry at jmccorry@bloomberg.net, Gordon Bell, Alastair ReedFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Rigzone.com
Sasol Investors Suggest Co-CEO Cornell Goes
Sasol has been asked by some of the country's biggest fund managers to consider executive changes, according to people familiar with the matter.
- GlobeNewswire
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Sasol Limited - SSL
Pomerantz LLP is investigating claims on behalf of investors of Sasol Limited (“Sasol” or the “Company”) (NYSE: SSL). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. On August 16, 2019, the Company announced that it was delaying the announcement of its financial results for fiscal year 2019 due to a possible "control weaknesses" at its Lake Charles chemicals project in Louisiana. Additionally, the Company announced that the Lake Charles project, which initially was expected to cost $8.9 billion, has experienced delays and rising costs.
- PR Newswire
Sasol Announces Beneficial Operation of World-scale Louisiana Ethane Cracker
LAKE CHARLES, Louisiana, Aug. 28, 2019 /PRNewswire/ -- Sasol today announced our world-scale U.S. Ethane Cracker reached beneficial operation on 27 August 2019. Sasol's new Cracker, the heart of our Lake Charles Chemicals Project (LCCP), is the third and most significant of the seven LCCP facilities to come online and will provide feedstock to our six new derivative units at our Lake Charles multi-asset site.
- Reuters
Sasol says U.S. ethane cracker production steps up
South Africa's Sasol said on Wednesday its U.S. ethane cracker plant was now producing enough ethylene for use, bringing it a step closer to completing its Lake Charles Chemicals Project that has been hit by delays and cost hikes. "With the first three units commissioned, plants representing more than 60% of the project’s total output are now online," said Bongani Nqwababa, Sasol's joint CEO and president. Sasol - the world's biggest maker of motor fuel from coal - said it would focus on improving the ethylene quality as well as the ramp up at the cracker unit, which was currently operating at 50% capacity.
- PR Newswire
SOL: SASOL LIMITED: Lake Charles Chemicals Project (LCCP) Ethane Cracker Unit Achieves Beneficial Operation
JOHANNESBURG, Aug. 28, 2019 /PRNewswire/ -- In our announcement of 26 August 2019, we confirmed that the 72-hours beneficial operation production test run on the LCCP's Ethane Cracker was at the halfway mark.
- ACCESSWIRE
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Sasol Limited - SSL
NEW YORK, NY / ACCESSWIRE / August 27, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Sasol Limited (“Sasol” or the “Company”) (SSL). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. The investigation concerns whether Sasol and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
- PR Newswire
SOL: SASOL Limited: Update on Sasol's Lake Charles Chemicals Project (LCCP) Ethane Cracker Unit
JOHANNESBURG, Aug. 26, 2019 /PRNewswire/ -- As noted in our 16 August 2019 communication, a problem relating to a large heat exchanger on our Ethane Cracker which interrupted the start-up for several days was successfully resolved and start-up resumed. On 24 August 2019, we reached the important milestone of producing ethylene at the LCCP that meets the feedstock requirements of some of our downstream units. Efforts to upgrade ethylene to polymer grade specification are underway with the support of the catalyst supplier and the technology licensor.
- GlobeNewswire
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of Sasol Limited
NEW YORK, Aug. 26, 2019 -- Levi & Korsinsky notifies investors that it has commenced an investigation of Sasol Limited (“Sasol” or “the Company”) (NYSE: SSL) concerning.
- Reuters
UPDATE 1-S.Africa's Sasol lowers LCCP earnings, delays start-up dates for units
Sasol said on Monday it had reduced its 2020 core earnings target for its U.S. ethane cracker project and revised the dates for the start-up of some of the company's downstream units following technical issues. Sasol lowered its earnings before interest, tax, depreciation and amortisation(EBITDA) guidance for the Lake Charles Chemicals Project (LCCP) for the 2020 financial year to between $150 to $300 million from between $300 to $350 million. Sasol delayed the release of its annual financial results earlier this month due to possible "control weaknesses" at the project, sending shares in the chemicals and energy company sharply lower.
- Reuters
S.Africa's Sasol lowers LCCP earnings and revises unit start-up dates
Sasol said on Monday it had reduced its 2020 core earnings target for its U.S. ethane cracker project and revised the dates for the unit's start-up following technical issues. Sasol lowered its earnings before interest, tax, depreciation and amortisation(EBITDA) guidance for the Lake Charles Chemicals Project (LCCP) for the 2020 financial year to between $150 to $300 million from between $300 to $350 million. Sasol delayed the release of its annual financial results earlier this month due to possible "control weaknesses" at the project, sending shares in the chemicals and energy company sharply lower.
- Newsfile
SASOL INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Sasol Limited To Contact The Firm
New York, New York--(Newsfile Corp. - August 22, 2019) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Sasol Limited (NYSE: SSL) ("Sasol" or the "Company").If you invested in Sasol stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/SSL. There is no cost or obligation to you.You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at ...
- PR Newswire
SOL: Sasol Limited Response to Investor Enquiries
JOHANNESBURG, Aug. 21, 2019 /PRNewswire/ -- In Sasol's announcement of 16 August 2019, the Company informed investors of the delay of the release of its 2019 financial results and related suite of reports. This will allow for the completion of management's assessment and remediation of possible control weaknesses followed by the consideration of these assessments by Sasol's external auditors. As is normal practice, the Company has engaged with investors and analysts in response to the announcement. Sasol confirms that no material or price sensitive information other than that contained in the announcement was discussed in any of these engagements.
