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Circular to Shareholders
Circular to SacOil Shareholders relating to:
- a specific issue of 111,940,298 SacOil Ordinary Shares for R75,000,000 in cash to Timtex, being a related party to SacOil, at an issue price of R0.67 per SacOil Ordinary Share;
- a specific authority to issue up to a maximum of 339,390,036 SacOil Ordinary Shares for R197,992,500 in cash to Yorkville Advisers UK LLP, calculated using an illustrative issue price of R0.58 per SacOil Ordinary Share , collectively referred to as the “Specific Issues”;
- a Specific Payment to Encha of R1,500,000 pursuant to a promoter’s fee; and
- proposed amendments to the SacOil Share Option Scheme.
Equity Distribution Agreement, Pro forma Financial and Further Cautionary Announcement
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”) Equity Distribution Agreement, Pro forma Financial and Further Cautionary Announcement 1. Introduction Shareholders of SacOil (“Shareholders”) are referred to the announcement released on the Securities Exchange News…
Read MoreEdison Investment Research Update
SacOil recently announced the issue of 111.94m shares raising ZAR75m ($10.7m) on the JSE. The shares were issued at ZAR0.67 (c 5.8p) compared to a trade-weighted average price of 5.93p in August (source Bloomberg) to Timtex Investments, an associate of Encha Group, a material (36.01%) shareholder in SacOil.
Read MoreAfrican Independent Upstream Oil & Gas Company
SacOil is the only JSE listed, independent upstream oil and gas company. Well positioned to become an African based, African independent upstream oil & gas company . Current portfolio includes assets in the DRC and assets under acquisition in Nigeria
Read MoreProposed Specific Issue of Equity to Raise R75 000 000 and Cautionary Announcement
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”) Proposed Specific Issue of Equity to Raise R75 000 000 and Cautionary Announcement 1. Proposed specific issue of shares for cash SacOil shareholders (“Shareholders”) are advised that…
Read MoreSacOil Interim Results for the six months ended 31 August 2011
During the period, SacOil, through Semliki Energy SPRL (“Semliki”), a company incorporated in the DRC and in which it holds a 50% interest, successfully concluded a farm-out and transfer of a 60% legal and benefi cial participating interest and operatorship of Block III to Total. DIG Oil Proprietary Limited (“DIG”) holds the other 50% in Semliki.
In return, SacOil gained:
• An immediate gross cash realisation of US$7.5m (£4.6m);
• Future contingent cash bonuses of, in aggregate, US$54.0m (£33.02m) and payable in two tranches;
• Full carry on exploration expenditure costs of at least US$35m (£21.4m) until final investment decision;
• Settlement of a US$1.4m (£0.9m) loan provided to DIG; and
• Knowledge and technical skills transfer via SacOil’s representation on the management committee of Block III.
No Change Statement and Notice of Annual General Meeting
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”) No Change Statement and Notice of Annual General Meeting 1. Posting of annual financial statement Shareholders are advised that the annual financial statements for the year ended…
Read MoreDealings in Securities
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”) Dealings in Securities In compliance with rule 3.63 of the JSE Limited (“JSE”) Listings Requirements the following information relating to dealing by an associate of a director…
Read MoreSacOil’s potential in Nigeria and the DRC adds up to 28 pence a share, says Growth Equities
Growth Equities & Company Research today initiated coverage of Africa-focused SacOil (LON:SAC, JSE:SAC) with a buy recommendation and 28 pence a share price target.
The punchy valuation (the current price is 5.74 pence) reflects the production potential of the company’s assets in Nigeria and the blue-sky offered by its exploration target in the Democratic Republic of Congo.
Read MoreOperational Update – Block III, Albertine Graben, DRC
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”) Operational Update – Block III, Albertine Graben, DRC SacOil Holdings Limited (AIM/JSE), the independent African upstream oil and gas company is pleased to provide an operational update…
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