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Appointment of Directors

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12 Jul 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”)

Appointment of Directors

SacOil is pleased to announce the formal appointment of Mr Ignatius Sehoole as non-executive director and Mr Vusumzi Pikoli as independent non-executive director of the Company with immediate effect. 

Mr Sehoole is a Chartered Accountant by qualification.  He serves as a member of the Board of Directors of the Public Investment Corporation SOC Limited (the “PIC”).  The other governance roles that he fulfils at the PIC are as follows:

  • the Chairman of the Audit and Risk Committee;
  • the Chairman of the Social and Ethics Committee;
  • a member of the Human Resources and Remuneration Committee;
  • a member of the REAM Committee; and
  • a member of the Directors’ Affairs Committee.

He also serves on the Board of Harith Fund Managers Proprietary Limited, in which the PIC is a shareholder. Outside of the PIC, Mr Sehoole serves on the Board of the Specialist Committee on Company Law, as well as on the Accounting Standards Board. Previously he was a member of the King Committee on Corporate Governance, a President of the South African Institute of Chartered Accountants and, until March 2010, the Chairman of the Audit Committee at the National Treasury.

Mr Pikoli, an advocate by qualification, was previously the National Director of Public Prosecutions, and was the head of the National Prosecuting Authority.  Prior to that he served as the Director-General of the Department of Justice and Constitutional Development.  He is a former trustee of the Constitutional Court Trust, and formerly a member of the International Association of Anti-Corruption Authorities.  Until February 2012 he was a director of the Forensic Investigation division at SizweNtsalubaGobodo.  He previously also headed the forensics department at Gobodo Inc.  Currently he is an independent director on the Board of Cricket South Africa, where he chairs the Social and Ethics Committee.

Mr Tito Mboweni, the Chairman of the Board of SacOil, commented as follows on the appointments:

“I am delighted that these two gentlemen of highest standing have agreed to join the board of SacOil Holdings Limited. Their integrity and highest ethical standards will be an added bonus for our business. I look forward to working with them in growing this business into a giant pan-African enterprise".

The following further information in relation to the appointments of Messrs Sehoole and Pikoli is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies:

Full name:     Ignatius Simon Sehoole

Age:             53

Current directorships and partnerships:

Directorships and partnerships held in the last 5   years:

Harith Fund Managers (Pty) Ltd

PricewaterhouseCoopers   Incorporated

Public Investment Corporation   SOC Limited

MTN Group Limited

MTN Mobile Money Holdings (Pty)   Ltd

Accounting Standards Board

MTN Service Provider (Pty) Ltd

Mobile Telephone Networks (Pty)   Ltd

Sizasana Investment Holdings   (Pty) Ltd

Thuthuka Education Upliftment   Fund (Association Inc under Section 21)

Stand 163000 Jansen Park (Pty)   Ltd

Oltio (Pty) Ltd

Mr Ignatius Sehoole does not currently hold any shares in the capital of SacOil.

Full name:     Vusumzi Patrick Pikoli

Age:             55

Current directorships and partnerships:

Directorships and partnerships held in the last 5   years:

Cricket South Africa

National Director of Public   Prosecution

Vee Pee Forensic Consultants   (Pty) Ltd

Director General – Department   of Justice and Constitutional Development

 

Rondolite (Pty) Ltd

 

Bureau Of Justice Assistance   (Association Inc Under Section 21)

 

Sizwentsalubagobodo Advisory   Services (Pty) Ltd

Mr Pikoli does not currently hold any shares in the capital of SacOil.

12 July 2013

ENDS

JSE Sponsor

Nedbank Capital

For   further information please contact:

 

finnCap   Limited (Nominated Adviser and Broker)

 

+44   (0) 20 7220 0500

Matthew   Robinson / Christopher Raggett

 

 

FirstEnergy   Capital (Joint Broker UK)

Majid   Shafiq

Travis   Inlow

 

 

 

+44   (0) 20 7448 0200

 

GMP   Securities Europe LLP (Joint Broker UK)

Rob   Collins

James   Pope

 

+44   (0) 20 7647 2800

Keyter   Rech Investor Solutions (SA)

Vanessa   Ingram

Lynne   Bothma

     

+27   (0) 11 447 2993

Pelham   Bell Pottinger (UK)

 

 

Philip   Dennis

 

+44   (0) 20 7861 3919

Nick   Lambert

 

+44   (0) 20 7861 3936

Rollo   Crichton-Stuart

 

+44   (0) 20 7861 3918