Sasol with a fairly simple announcement that sent the share price reeling yesterday, it had recovered a little by the end, it was however not completely unexpected. The release is titled Change to dividend policy and segmental reporting and that pretty much sums it up. Why the big reaction? I mean, lots of the news was known already, the company had already released a trading statement 12 days prior. David Constable had however said the year prior, that bar for a catastrophe, the company would never pay a lower dividend. In other words they would match the dividend from the year before. I guess you could argue an oil price halving is a catastrophe. In the same release the company explains a 5 point plan to conserve capital, improving margins, further cash cost reductions, the usual response to tough times. More will be revealed at the interim results presentation on the 9th of March. The announcement precipitated a 10 percent drop in the share price, in a hurry, the share price ended the day down just under 6 percent, phew.