Archive for September 2010

Commencement of exploration work programme on Block 3 of the Albertine Basin, Lake Albertine in the DRC

SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Commencement of exploration work programme on Block 3 of the Albertine Basin, Lake Albertine in the DRC SacOil, the Pan African independent upstream oil and Gas Company, is pleased…

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Legal action taken against SacOil

SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Legal action taken against SacOil SacOil shareholders (“Shareholders”) are referred to the previous announcement published on SENS on 15 September 2010 (“the Announcement”) in which Shareholders were advised that…

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Results of general meeting and general issues of shares for cash

Results of general meeting and general issues of shares for cash SacOil shareholders (“Shareholders”) are advised that a general meeting was held on Monday, 20 September 2010 to consider the ordinary resolutions relating to: the restructuring of SacOil`s investment in oil concession rights pertaining to Block 3 and Block 1, Albertine Graben, Democratic Republic of…

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Vexatious action taken against SacOil

SACOIL HOLDINGS LIMITED (Formerly SA Mineral Resources Corporation Limited) (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) Share code: SCL and ISIN: ZAE000127460 (“SacOil”) Vexatious action taken against SacOil Vexatious actions taken against SacOil Shareholders are advised that the company has been cited as defendant in an action instituted by one Joseph Gadifele…

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Circular to Shareholders

Circular to Shareholders regarding:

  • the restructuring of SacOil’s proposed investment in the Block 3 Rights and the Block 1 Rights including the proposed acquisition by SacOil of 50 per cent of the entire issued share capital of, and all claims of the SacOil (Proprietary) Limited Vendors against, SacOil (Proprietary) Limited which is a related party transaction;
  • the proposed acquisition by SacOil of a 55 per cent Participating Interest in the Chaal Gas Exploration Permit Area in Tunisia;
  • the proposed Specific Issue to Metropolitan Asset Managers, a related party, of 46 000 000 Ordinary Shares for cash at 50 cents per Ordinary Share ;
  • the ratification of the Specific Issue to GVM, a related party, of 8 343 216 Ordinary Shares for cash at 30 cents per Ordinary Share;
  • approval of the Lonsa Corporate Finance Advisory Mandates which are related party transactions; and
  • amendments to the current Share Option Scheme.
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