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Addendum to Notice of Annual General Meeting

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07 Nov 2013

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”)

Addendum to Notice of Annual General Meeting

Shareholders are referred to the announcement dated 12 September 2013 regarding the establishment of various Board sub-committees and the announcements dated 17 September 2013 and 23 September 2013 containing details of the Company’s annual general meeting, scheduled to be held on Friday, 29 November 2013 at 10:00 at 2nd Floor, The Gabba, Dimension Data Campus, 57 Sloane Street, Bryanston (“the Annual General Meeting”).

On 23 September 2013 the Company circulated a notice of Annual General Meeting (“the Notice”) dealing with, inter alia, the election of Audit Committee members. The JSE Limited subsequently informed the Company that its Audit Committee would not be properly constituted according to the requirements of the JSE Limited Listings Requirements (“the Listings Requirements”), if Ordinary Resolution Number 3 – Election of Audit Committee Members, as contained in the Notice, was passed by the shareholders, as the Listings Requirements require an audit committee to be comprised of at least three independent non-executive directors, as recommended by the revised Code of and Report on Governance Principles for South Africa (King III).

In order to ensure compliance with the Listings Requirements the Notice must be amended to include an ordinary resolution that proposes, for election as Audit Committee members, directors who meet the requirements of the Listings Requirements. Accordingly, the Company has today distributed to shareholders an addendum to the Notice, which amends Ordinary Resolution Number 3 by replacing Ignatius Sehoole, who is a non-executive director, with Vusi Pikoli, an independent non-executive director, to ensure compliance with the Listings Requirements. 

The date, time and location of the Annual General Meeting remain unchanged.

7 November 2013

ENDS

Investment Bank, Corporate Advisor and JSE Sponsor

Nedbank Capital, a division of Nedbank Limited

Legal Advisor

Norton Rose Fulbright South Africa

Nominated Adviser and Broker

finnCap Limited

For further information please contact:

 

SacOil Holdings Limited

Roger Rees/ Tariro Mudzimuirema

+27 (0)11 575 7232

Nedbank Capital, a division of Nedbank Limited (Investment Bank, Corporate Advisor and Sponsor)

Michelle Benade

+27 (0) 11 294 3524

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