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Appointment of Executive Director

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11 Aug 2014

SACOIL HOLDINGS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

JSE share code: SCL     AIM share code: SAC

ISIN: ZAE000127460

(“SacOil” or “the Company”)

Appointment of Executive Director

SacOil is pleased to announce the formal appointment of Mr Bradley Robert Cerff as an Executive Director of the Company with immediate effect.

Bradley joined SacOil in 2011 as Vice President of Operations, following 18 years of exploration and production experience working primarily with PetroSA in Africa.  He has managed technical and commercial teams and upstream assets in most African oil-exploration and producing countries.

During the last three years, he has been responsible for the management and execution of work programs relating to SacOil’s upstream assets and for the optimisation of the Company’s overall portfolio and subsidiaries. He is also responsible for the Company’s reserves and resource management and will continue to manage SacOil’s upstream asset portfolio. With his technical and commercial experience, Bradley has contributed to the growth of the Company’s upstream portfolio on the African continent.

Bradley holds an MSc degree and an MBA. He is a member of the Society of Petroleum Engineers.

Commenting on the appointment, Tito Mboweni, Chairman said “Bradley has been closely involved with the operations of the Company and in dealing with our key partner relationships. He has 18 years’ experience in the industry and we look forward to his contribution to the board in his new role".

The following information in relation to Mr. Cerff’s appointment is disclosed in accordance with Schedule Two(g) of the AIM Rules for Companies.

Mr Bradley Robert Cerff (aged 41) has been a director or partner of the following companies/partnerships during the five years preceding the date of this announcement:

Current Directorships

Previous Directorships

Themix Investments and Developments

Ocean Surprise

Sustainable Innovations and Energy

Development

 

Ibiza Chauffeurs

Petroleum Oil And Gas Corporation of South Africa (Namibia)

PetroSA Equatorial Guinea (South Africa)

PetroSA Gryphon Marin Permit

PetroSA Iris

PetroSA Themis

Bradley currently holds 110 000 shares in the capital of SacOil.

There is no further information to be disclosed pursuant to Schedule Two(g) of the AIM Rules for Companies.

Johannesburg

11 August 2014

ENDS

JSE Sponsor

Nedbank Capital

For further information please contact:

 

finnCap Limited (Nominated Adviser and Broker)

Matthew Robinson / Christopher Raggett

 

+44 (0) 20 7220 0500

FirstEnergy Capital (Joint Broker UK)

Majid Shafiq / Travis Inlow

 

+44 (0) 20 7448 0200

Pelham Bell Pottinger (UK)

Philip Dennis

Nick Lambert

Rollo Crichton-Stuart

 

+44 (0) 20 7861 3919

+44 (0) 20 7861 3936

+44 (0) 20 7861 3918