Samroc Concludes R533m SacOil Acquisition

JSE-listed exploration and development junior Samroc on Friday announced that it had finalised the acquisition agreement of fuel producer SacOil for a total consideration of R533,1-million.

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Circular to Shareholders

Circular to Samroc Shareholders relating to:

  • The reversal of their interest in South Africa Congo Oil Company (Proprietary) Limited (“SacOil”), a company holding oil concession rights in the Democratic Republic of the Congo, into Samroc by the SacOil vendors for a total consideration of R533.1 million;
  • a proposed share option scheme;
  • a change of name of Samroc to SacOil Holdings Limited and a transfer of its listing to the “Mining; Integrated Oil and Gas” sector of the JSE Limited list;
  • a notice of general meeting;
  • a form of proxy (blue) (applicable to certificated and dematerialised own name shareholders only);
  • a form of surrender (yellow) (for use by certificated shareholders only); and
  • revised listing particulars.
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