Sasol Form 20-F for the year ended 30 June 2021 - Book - Page 5
herein is displayed using the decimal comma (e.g., 3,5)
instead of the more familiar decimal point (e.g., 3.5)
used in the UK, US and elsewhere. Similarly, a hard
space is used to distinguish thousands in numeric
figures (e.g., 2 500) instead of a comma (e.g., 2,500).
PRESENTATION OF INFORMATION
We are incorporated in the Republic of South
Africa as a public company under South African
company law. Our audited consolidated financial
statements are prepared in accordance with
International Financial Reporting Standards (IFRS), as
issued by the International Accounting Standards Board
(IASB).
All references to the “group”, “us”, “we”,
“our”, “company”, or “Sasol” in this Form 20-F are to
Sasol Limited, its group of subsidiaries and its interests
in associates, joint arrangements and structured entities.
All references in this Form 20-F are to Sasol Limited or
the companies comprising the group, as the context
may require. All references to “(Pty) Ltd” refers to
Proprietary Limited, a form of corporation in South
Africa which restricts the right of transfer of its shares
and prohibits the public offering of its shares.
As used in this Form 20-F:
“rand” or “R” means the currency of the
Republic of South Africa;
“US dollars”, “dollars”, “US$” or “$”
means the currency of the United States
(US);
“euro”, “EUR” or “€” means the common
currency of the member states of the
European Monetary Union; and
“CAD” means Canadian dollar, the
currency of Canada.
All references in this Form 20-F to “South
Africa” and “the government” are to the Republic of
South Africa and its government. All references to the
“JSE” are to the JSE Limited or Johannesburg Stock
Exchange, the securities exchange of our primary
listing. All references to “SARB” refer to the South
African Reserve Bank. All references to “PPI” and
“CPI” refer to the South African Producer Price Index
and Consumer Price Index, respectively, which are
measures of inflation in South Africa. All references to
“GTL” refers to our gas-to-liquids processes.
We present our financial information in rand,
which is our reporting currency. Solely for your
convenience, this Form 20-F contains translations of
certain rand amounts into US dollars at specified rates
as at and for the year ended 30 June 2021. These rand
amounts do not represent actual US dollar amounts, nor
could they necessarily have been converted into US
dollars at the rates indicated.
Unless otherwise stated, presentation of
financial information in this annual report on
Form 20-F will be in terms of IFRS. Our discussion of
business segment results follows the basis used by the
President and Chief Executive Officer (the company’s
chief operating decision maker) for segmental financial
decisions, resource allocation and performance
assessment, which forms the accounting basis for
segmental reporting, that is disclosed to the investing
and reporting public.
All references in this Form 20-F to “years” refer to
the financial years ended on 30 June. Any reference
to a calendar year is prefaced by the word
“calendar”.
“Financial Review” means the Chief Financial
Officer’s performance overview included in
Exhibit 99.3.
Besides applying barrels (b or bbl) and
standard cubic feet (scf) for reporting oil and gas
reserves and production, Sasol applies the Système
International (SI) metric measures for all global
operations. A ton, or tonne, denotes one metric ton
equivalent to 1 000 kilograms (kg). Sasol’s reference to
metric tons should not be confused with an imperial ton
equivalent to 2 240 pounds (or about 1 016 kg). Barrels
per day, or bpd, or bbl/d, is used to refer to our oil and
gas production.
“Headline earnings per share (HEPS)” refers
to disclosure made in terms of the listings requirements
issued by the JSE (JSE Listing Requirements).
“Core headline earnings per share (CHEPS)”
refers to a disclosure based on HEPS above, calculated
by adjusting headline earnings with non-recurring
items, earnings and losses of significant capital projects
(exceeding four billion rand) which have reached
beneficial operation and are still ramping up, all
In addition, in line with a South African
convention under the auspices of the South African
Bureau of Standards (SABS), the information presented
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