Sasol to end sponsorship of Springbok rugby when current agreement with SA Rugby expires
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20 July 2010
Sasol will conclude its lead sponsorship of Springbok rugby at the end of 2010 when the current agreement between the company and SA Rugby expires.
The six-year, R150 million lead sponsor deal with SA Rugby, was signed in November 2004 and includes the national team as well as the Springbok Sevens
team, "A" team and the U-20 Springboks.
While protracted negotiations have been undertaken in a constructive manner, the two parties have been unable to confirm mutually agreeable terms, on which to renew the contract.
"We're very proud of our association with the Springboks and had certainly hoped our significantly increased offer would have found traction with the
union", said Sasol senior group executive, Lean Strauss.
"As a business, we must take current market conditions into account, while at the same time recognising the enormous value this iconic team has brought to our
brand. We believe our offer reflected this approach but respect SA Rugby's decision to consider alternate sponsorship options", Strauss said.
In the past six years the Springboks have delivered outstanding performances and a number of significant successes. The 2007 IRB Rugby World Cup victory in
France, along with the 2009 British and Irish Lions tour success and their Tri-Nations triumph, were wonderful highlights. Sasol's passion for the Sevens
game saw the profile of the Springbok Sevens team greatly elevated and we hope this momentum will be maintained in the future.
"In the course of our association with the Springboks, we have seen the game extend across racial and cultural barriers. It has promoted nation building,
united our staff around the world and has strengthened our brand both locally and abroad", Strauss said.
"This has been a wonderful partnership and, while it's been a tough few weeks for the Boks, we at Sasol remain their greatest fans and wish them well for the
rest of the season and for the successes that lie ahead" he said.
Sasol's contract with SA Rugby will run for another five months. Sasol will ensure the team receives the company's full sponsorship support until the
agreement concludes at the end of December 2010.
Ends.
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Sasol may, in this document, make statements that are not historical facts and relate to analyses and other information based on forecasts of future results and estimates of amounts not yet determinable. These are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavor" and "project" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may be very different from those anticipated. The factors that could cause our actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements are discussed more fully in our registration statement under the Securities Exchange Act of 1934 on Form 20-F filed on October 9, 2009 and in other filings with the United States Securities and Exchange Commission. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
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