Sasol Form 20-F for the year ended 30 June 2021 - Book - Page 105
not effective as of 30 June 2021 due to the existence of
a material weakness in internal control over financial
reporting as described below in section (b).
ADR holders, ADR holders are required to pay the
following fees.
Service
Depositing or substituting the underlying
shares . . . . . . . . . . . . . . . . . . . . . . . . . . .
Receiving or distributing dividend . . . . . . . .
Selling or exercising rights . . . . . . . . . . . . .
Withdrawing an underlying security . . . . . .
Fees (USD)
Up to US$5,00 per
100 ADS
Up to US$0,05 per
ADS
Up to US$5,00 per
100 ADS
Up to US$5,00 per
100 ADS
Notwithstanding this material weakness,
management concluded that the consolidated financial
statements included in this annual report on Form 20-F
present fairly, in all material respects, our financial
position, results of operations and cash flows as of and
for the periods presented in accordance with IFRS, as
issued by the IASB. Management’s assessment is based
upon a number of factors, including, but not limited to:
In addition, all non-standard out-of-pocket
administration and maintenance expenses, including but
not limited to, any and all reasonable legal fees and
disbursements incurred by the Depositary (including
legal opinions, and any fees and expenses incurred by
or waived to third-parties) will be paid by the company.
Fees and out-of-pocket expenses for the servicing of
non-registered ADR holders and for any special
service(s) performed by the Depositary will be paid for
by the company.
12.D.4 Depositary payments for 2021
J.P Morgan paid an amount of US$2 341 550
to Sasol on 8 July 2021 in respect of annual
contributions.
ITEM 13. DEFAULTS, DIVIDEND
ARREARAGES AND DELINQUENCIES
Not applicable.
ITEM 14. MATERIAL MODIFICATIONS TO
THE RIGHTS OF SECURITY HOLDERS AND
USE OF PROCEEDS
The successful implementation of
remediation actions with regards to
previously disclosed individual control
and project-related control environment
deficiencies, with one material weakness
closed out as of 30 June 2021; and
The corrective action that has been taken
with regard to the accuracy of the
impairment assessments performed on
certain cash generating units related to the
South African integrated value chain
within one segment of the company for
the year ended 30 June 2021. As a result
of the corrective action by management,
two prior period errors were identified
during financial year 2021 in relation to
the South African integrated value chain
within the Energy and Chemicals Africa
segments which resulted in a revision to
the consolidated financial statements.
(b) Management’s annual report on internal control
over financial reporting
Not applicable.
Management of the company is responsible for
establishing and maintaining adequate internal control
over financial reporting as defined in
Rule 13a-15(f) under the Securities Exchange Act of
1934, as amended. Under Section 404 of the
Sarbanes-Oxley Act, management is required to assess
the effectiveness of the company’s internal control over
financial reporting as of the end of each financial year
and report, based on that assessment, whether the
company’s internal control over financial reporting is
effective.
ITEM 15. CONTROLS AND PROCEDURES
(a) Disclosure controls and procedures
The company’s President and Chief Executive
Officer and Chief Financial Officer, performed an
evaluation of the effectiveness of the group’s disclosure
controls and procedures (required by paragraph (b) of
17 CFR 240.13a-15) as of the end of the period covered
by this annual report on Form 20-F.
The company’s internal control over financial
reporting is a process designed under the supervision of
the President and Chief Executive Officer and Chief
Financial Officer to provide reasonable assurance as to
Based on this evaluation, our Chief Executive
Officer and Chief Financial Officer have concluded that
the company’s disclosure controls and procedures were
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