Sasol - SSL STOCK NEWS

Sasol Chemicals has pledged to supply a first fill of its latest Fischer-Tropsch (FT) catalyst at no cost to start-up Ineratec. This collaboration supports Ineratec's lighthouse project at Industriepark Hoechst, aiming to create the world's largest production plant for paraffinic synthetic fuels with a target output of 2,500 tons per year, anticipated to start in 2023. The catalyst will play a crucial role in producing Sustainable Aviation Fuels (SAF). The German government is providing around 6 million euros in funding for this initiative, which aligns with global sustainability goals and demonstrates Sasol's commitment to innovation in renewable energy.

Sasol is poised to report mixed results for the six months ending December 31, 2022. Key influences include strengthened oil prices and refining margins, but these were counterbalanced by weaker global economic growth and depressed chemicals prices. Earnings per share (EPS) are projected between R21.55 and R23.98, a decrease of up to 10% from the previous year. Headline earnings per share (HEPS) may range from R29.84 to R31.36, marking an over 95% increase year-on-year. Operational challenges in the Mining sector and impairments in several cash-generating units, notably the Secunda liquid fuels refinery, reflect ongoing operational difficulties amid fluctuating costs. The full results will be announced on February 21, 2023.

Sasol Limited (NYSE: SSL) has announced a collaboration with Holiferm Limited to expand their biosurfactant product portfolio by adding rhamnolipids and mannosylerythritol lipids (MELs). This partnership builds on their previous collaboration initiated in March 2022, focusing on developing sophorolipids.

The new biosurfactants will be produced using fermentation technology, significantly reducing the carbon footprint compared to traditional surfactants. The goal is to prepare for pilot plant testing and subsequent full manufacturing at Holiferm's Wallasey site, catering to the growing demand for sustainable chemical solutions.

Sasol has released its production and sales performance metrics for the six months ending December 31, 2022. The company aims to reduce GHG emissions from South African operations by at least 30% by 2030, focusing on renewable power integration. Sasol signed three power purchase agreements for a total of 359MW of renewable wind power, supporting their green hydrogen production ambitions in Sasolburg set to commence in Q1 CY24. The Secunda operations will see two additional agreements with Air Liquide for 220MW, expected operational by 2025. These initiatives mark progress toward Sasol's target of 1,200MW renewable energy capacity by 2030.

Sasol has released its production and sales metrics for the six months ending December 31, 2022. The company aims to reduce GHG emissions from its South African operations by at least 30% by 2030, based on 2017 levels. To support this, Sasol signed three power purchase agreements for renewable energy, including a long-term agreement for 69MW of wind power for Sasolburg operations, expected to start in early 2024. In collaboration with Air Liquide, two additional contracts for 220MW of wind power at Secunda operations are set for 2025. These steps reflect Sasol's commitment to a sustainable energy transition.

Sasol has announced that for the six months ending 31 December 2022, both earnings per share (EPS) and headline earnings per share (HEPS) are anticipated to increase by over 20%, compared to EPS of R23.98 and HEPS of R15.21 from the same period last year. This growth is attributed to higher Brent crude oil prices and refining margins, despite challenges in chemical sales prices and feedstock costs. However, ongoing operational issues, particularly in the coal value chain, have negatively affected production volumes, leading to revised market guidance.

On November 3, 2022, Sasol announced its upcoming Annual General Meeting (AGM) scheduled for 9:00 AM on December 2, 2022. The AGM will be held electronically and at Sasol Place, Johannesburg. Key dates include the record date for shareholders to receive the meeting notice on October 21, 2022, and the last day to trade being November 22, 2022. Proxy forms must be submitted by 9:00 AM on December 1, 2022. Results will be published on December 5, 2022. For more details, visit Sasol's website.

Sasol Limited announced the pricing of its US$750 million offering of guaranteed senior unsecured convertible bonds due 2027. The bonds will be issued at 100% of their principal amount, with a 4.5% annual coupon, payable semi-annually. Net proceeds will be utilized for general corporate purposes, including debt refinancing. The bonds' initial conversion price is set at US$20.3863, representing a 30% premium to the average share price. An application for trading on the Frankfurt Stock Exchange is anticipated following the November 8, 2022 closing date.

Sasol Limited announced the launch of a US$750 million offering of guaranteed senior unsecured convertible bonds, set to mature in 2027. The bonds are expected to pay a coupon of 4.0% to 4.5% per annum, with the proceeds primarily aimed at refinancing debt. The initial conversion price will be 30% to 35% above the average share price at the time of pricing. A general meeting for shareholder approvals will be convened within 14 months after the closing date on November 8, 2022. The bonds will trade on the Frankfurt Stock Exchange.