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Resignation of non-executive director

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01 Oct 2015

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”)

RESIGNATION OF NON-EXECUTIVE DIRECTOR

In compliance with rule 3.59(b) of the Listings Requirements of the JSE Limited, shareholders of the Company are hereby advised that after six years as part of the SacOil board of directors ("the Board"), Mr Gontse Moseneke indicated today that he will not offer himself for re-election as non-executive director at the Annual General Meeting (“AGM”) of SacOil held today. Ordinary resolution 3.1, as per the AGM notice sent to shareholders on 31 August 2015, was withdrawn at the AGM following Mr Moseneke’s decision.

Mr Tito Mboweni, the Chairman of the Board said: "Mr Moseneke has been a wonderful asset to the Board and I would like to thank him for his outstanding contributions to the development of SacOil. I wish Gontse much success in the future and thank him for the years of service to SacOil."

The results of the AGM will be issued on 2 October 2015.

 

JSE Sponsor

PSG Capital Proprietary Limited

1 October 2015

 

For further information please contact:

SacOil Holdings Limited                   

Damain Matroos

+27(0)10 591 2260

finnCap Limited (Nominated Adviser and broker)

Christopher Raggett and James Thompson

+44(0) 20 72200500

FirstEnergy Capital (Financial Adviser and Joint Broker UK)

+44(0) 20 7448 0200