UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K for February 18, 2015
Commission File Number 1-31615
Sasol Limited
1 Sturdee Avenue
Rosebank 2196
South Africa
(Name and address of registrant's principal executive office)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F __X__ Form 40-F _____
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission
in paper of a Form 6-K if submitted solely to provide an attached
annual report to security holders.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission
in paper of a Form 6-K if submitted to furnish a report or other
document that the registrant foreign private issuer must furnish
and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized
(the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded,
as long as the report or other document is not a press release,
is not required to be and has not been distributed to the
registrant's security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or
other Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes _____ No __X__
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b):
82-_______________.
Enclosures: Change to dividend policy and segmental reporting
Sasol Limited
(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" or "the Group")
CHANGE TO DIVIDEND POLICY AND SEGMENTAL REPORTING
In response to the current low oil price environment, an
initiative to conserve cash over the next 30 months was announced
by Sasol on 28 January 2015 ("Response Plan").
Sasol's Response Plan comprises 5 key components, namely:
* capital portfolio phasing and reductions;
* capital structuring;
* working capital improvements;
* margin enhancement; and
* further cash cost reductions, supplementing the Group's
target of at least R4 billion annual costs savings driven
through the company-wide business performance enhancement
programme, which was launched in 2013.
Looking specifically at the capital structuring lever, the
management team and the Sasol board of directors ("Board")
evaluated the Company's progressive dividend policy, which had
been introduced to maintain or improve dividends in line with the
Company's anticipated sustainable growth in earnings.
The Company's dividend policy takes into consideration various
factors, including overall market and economic conditions, the
Group's financial position, capital investment plans as well as
earnings growth.
In the context of a low oil price environment, the Group's
earnings will be negatively impacted. The current macroeconomic
conditions have therefore necessitated a reassessment of the
Company's progressive dividend policy.
At a special meeting of the Sasol Board, the directors approved a
change in the Company's dividend policy. The revised policy is
based on a dividend cover range, which will be similar to the
dividend cover rates applied during the 2008 to 2014 financial
years.
The Board considers that, in the current environment, this
revised dividend policy, together with the other components of
the Response Plan, will provide sufficient flexibility for the
Company to manage its balance sheet. This will also allow the
Group to execute its growth programme while continuing to return
value to shareholders through dividend payouts.
Another important component of the Company's Response Plan
efforts is the ongoing refinement of its operating model, and the
further optimisation of its management structures to ensure
greater focus and efficiency while enabling additional cost
reductions.
To this end, earlier this month, Sasol announced changes to its
top management structures. The Company has also decided to
combine two of its reportable segments, Southern Africa Energy
and International Energy, and their associated management
structures, into one segment, now called Energy.
Given this decision, Sasol's segmental reporting will now consist
of six reportable segments: Mining, Exploration and Production
International, Energy, Base Chemicals, Performance Chemicals, and
Group Functional Support.
Sasol will be announcing its results for the first half of the
2015 financial year on 9 March 2015. The interim dividend will be
announced at the same time, and the segment information contained
in these results will be disclosed on this revised basis.
18 February 2015
Johannesburg
Sponsor: Deutsche Securities (SA) Proprietary Limited
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant, Sasol Limited, has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Date February 18, 2015 By: /s/ V D Kahla
Name: Vuyo Dominic Kahla
Title: Company Secretary