SPI INTERNATIONAL PROPRIETARY

"On 16 August 2013, Sasol Investment Company (Pty) Limited, a wholly owned subsidiary of Sasol, entered into a definitive sale and share purchase agreement pursuant to which Main Street 1095 (Pty) Limited, a South African subsidiary of an Iranian investor, completed and effected the acquisition of 100% of the shares of SPI International (Pty) Limited (“SPII”)(“Transaction”).  SPII is the indirect owner of a 50% interest in Arya.

On March 18, the U.S. Department of State imposed sanctions, pursuant to Executive Order (E.O.) 13846, on SPI International Proprietary Limited for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran. (U.S. Department of State, "Sanctions on Entities Trading in or Transporting Iranian Petrochemicals," 3/18/2020).  (https://www.state.gov/sanctions-on-entities-trading-in-or-transporting-iranian-petrochemicals/)

As a result of this Transaction, Sasol has no on-going investment in Iran." (Sasol, "SASOL DISPOSES OF ITS INVESTMENT IN THE IRANIAN JOINT VENTURE ARYA SASOL POLYMER COMPANY (“ARYA”)," 8/19/2013).  (https://www.sasol.com/media-centre/media-releases/sasol-disposes-its-investment-iranian-joint-venture-arya-sasol-polymer)

"The Mokran petrochemical complex, located at the south eastern Chabahar coastal area, will be the third-largest petrochemical base in Iran, after Bandar Imam and Asaluyeh.

SHASTAN is the master developer of the Mokran Petrochemical Hub, as well as the owner of three plants plus utility (nine different packages) within the Mokran Area, while SPII is in charge of funding arrangement for SHASTAN’s mega projects." (ICIS, "Iran building third-biggest petchem complex in Mokran," 1/24/2017). (https://www.icis.com/explore/resources/news/2017/01/24/10072047/iran-building-third-biggest-petchem-complex-in-mokran/)

“We have developed several scenarios in investment, partnership and financing. Foreigners can own up to 100% of the plants or can join Iranian investors as their local partner,” Reza Ebadzadeh, CEO of SPI International Proprietary Ltd (SPII), a subsidiary of SHASTAN, which owns nearly one quarter of petrochemical sector of Iran, said in an email interview.

As described in our most recent trading statement of 1 August 2013, the fair value of Sasol’s investment in Arya was written down to R2,3 billion.  This was based on our assessment of the fair value of Arya as well as the accounting requirement to recognise operating profits of approximately R1,6 billion for the second half of the 2013 financial year.

(also SPI INTERNATIONAL PROPRIETARY LTD., SPI INTERNATIONAL PROPRIETARY LIMITED, SPI INTERNATIONAL PTY LTD, SPI INTERNATIONAL PROPRIETARY BRANCH OF A FOREIGN COMPANY, SPI INTERNATIONAL PROPRIETARY, SPI INTERNATIONAL PROPRIETY LIMITED CO.)

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