Talking Sasol, some good news on the fines front. You will recall that Sasol bought a European chemicals business years ago, one of those divisions was involved in a paraffin wax cartel and fined 318.2 million Euros. They paid by January 2009, but applied to the European courts in Luxembourg for a reduction. Which was subsequently granted, the fine was reduced all of five and some more years later to 149.98 million Euros, meaning that the European Commission owes (according to the ruling) Sasol 168.22 million Euros. Which is 2.459 billion Rand at current levels.
At the time of the fine, the amount was closer to 3.7 billion Rand, which means that the ruling is more than just 168.22 million Euros, you do the math. So what they paid, in full, and the subsequent weakness of the Rand (and strength of the Euro) means that the fine amount could only have been 1.241 billion Rand. I say only, because it would have been worse for them if the currency moves went the other way. The European Commission has the right to appeal, perhaps they will.
The net benefit to you as shareholders is an accounting event of 168 million Euros, just in time for the pending results, remembering that Sasol is a June year end. Relative to their market cap this is around 0.6 percent, not a big number, but relative to their profits this is more significant. Results are expected to be released on the 8th of September.