SASOL Integrated Report 2025_Final_28 August 2025 - Flipbook - Page 123
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
PORTFOLIOS
ESG
REMUNERATION REPORT
DATA AND ASSURANCE / ADMINISTRATION
GOVERNANCE continued
GROUP GOVERNANCE continued
Board compliance
We are a values-based organisation and are committed to the highest standards of business integrity and
ethics in all our activities. The Board ensures that Sasol is governed effectively through ethical consciousness
and conduct, in accordance with good corporate governance practice, appropriate and relevant non-binding
industry rules, codes and standards and internal control systems. As a company listed on the Johannesburg
Stock Exchange (JSE) and on the New York Stock Exchange (NYSE) for purposes of our American Depositary
Receipt program, Sasol is subject to, and has implemented controls to provide reasonable assurance of its
compliance with all relevant requirements in respect of its listings. Specific areas of law have been
identified as key Group legal compliance risk areas (safety, health and environmental laws, anti-bribery and
anti-corruption laws, sanction laws, data privacy laws and competition law). Controls, aimed at achieving
a balanced approach to compliance and to mitigate the risks in these areas have been implemented. The
Board and its Committees continue to closely monitor the implementation of the Company’s legal compliance
policy and processes and improve thereon to mitigate the risk of non-compliance with the laws in the
various jurisdictions in which Sasol does business.
The Board uses its meetings to discharge its governance and regulatory responsibilities. Its work plan and
those of its Committees outline the matters which should be dealt with at meetings and are aligned with
the responsibilities and requirements set out in the Board Charter and the terms of reference of its
Committees. Matters considered by the Board and its Committees include strategy, material matters,
operational and financial performance, risks and opportunities, environmental, social and governance
(ESG) issues and compliance.**
The Board directly assumes responsibility for the governance of risk. To support the Board in ensuring
effective risk management oversight, not only one Committee, but all Board Committees are responsible
for ensuring the effective monitoring of risks within the ambit of each Committee’s scope. In monitoring
and providing oversight on Sasol’s risk, each Committee will consider potential opportunities as appropriate.
For more detail refer to Risk management page 30.
There are seven scheduled Board meetings a year. The Board also meets twice a year to discuss
strategy. For the reporting period, the Board held 10 meetings and two strategy meetings.
The Board is satisfied that it fulfilled all its duties
and obligations in the 2025 financial year.
The Board confirms that Sasol complies in most significant respects with the
governance standards imposed on domestic United States’ companies listed on the
NYSE and that Sasol applies all the principles of the King IV™ Report on Corporate
Governance for South Africa 2016 (King IV™).*
FY25
www
*
www
**
Attendance
Meetings
The Board confirms that the Company is in compliance with the provisions of the
Companies Act 71 of 2008 as amended (the Companies Act), specifically relating to its
incorporation, and is operating in conformity with its Memorandum of Incorporation.
In the year under review, there were no material violations of any laws or regulations,
nor were any material penalties or fines imposed on the Company or its Directors for
contraventions of any laws or regulations.
99%^
12
^
Mr M Cuambe could not attend
the meeting held on 26 June 2024
due to unforeseen flight changes.
The Board Charter and terms of reference of its committees are reviewed as and when required
but at least every second year to ensure they remain relevant and aligned with the Companies Act
and other relevant regulatory requirements, King IV™ and governance best practices.
A statement on Sasol’s application of the principles of King IVTM is available on www.sasol.com
For more details on the responsibilities, powers, policies and processes of the Board, its Directors and the Company’s executives and other officials, refer to the Board Charter, together with the Company’s Memorandum of Incorporation on our website, www.sasol.com
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