Integrated Annual Report 2014
SacOil Holdings Limited releases its 2014 Integrated Annual Report.
About this Report and Scope of Reporting
By reporting on the financial and non-financial performance of the Group, SacOil Holdings Limited’s integrated report aims to provide an understandable and complete view of the business for the Group’s shareholders, potential investors and stakeholders.
SacOil Holdings Limited (“SacOil”) is a company incorporated in South Africa in accordance with the provisions of the Companies Act and complies with the principles of King III, unless otherwise stated, the Companies Act, the JSE Limited Listings Requirements and other legislative requirements. The Group subscribes to high ethical standards and principles of corporate governance. In addition, the Group adheres to International Financial Reporting Standards (“IFRS”) in compiling its annual financial statements. Accordingly, we will report not only on our financial performance for the year under review but also on all other non-financial indicators, including sustainability, by disclosing information on safety, social, environmental and economic impacts and influences, both positive and negative and internal and external to all our stakeholders.
Considerable effort has been expended on presenting concise and focused information. The content of this integrated report is deemed to be useful and relevant to our stakeholders, enabling them to evaluate the ability of SacOil to create and sustain stakeholder value. The Statement from the Board of Directors is provided, offering the reader a comprehensive, integrated and high-level overview of the Group’s performance and outlook.
Scope of Reporting
This integrated report covers the financial year ended 28 February 2014 and is released within 2014. It provides an overview of operations, financial performance and integrated sustainability across all operating subsidiaries.
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