Investor Centre
Update on Suspension in Trading of Shares
Since the suspension of trading in the Company’s shares on 31 May 2013, the Company believes that it has fulfilled the conditions to warrant the lifting of the suspension of trade in the Company’s shares on the Main Board of the JSE Limited (“JSE”) and the AIM Market (“AIM”) of the London Stock Exchange.
In this respect the Company has fulfilled the following conditions:
Read MoreSacOil resumes trading on JSE and London’s AIM
SacOil resumes trading on JSE and London’s AIM OIL explorer SacOil on Monday resumed its trading on the JSE and London’s Alternative Investment Market (AIM), as new management pushes ahead with its turnaround plan. Its share closed 1c, or 3.7%, lower at 26c with nearly 3-million shares worth R758,578 trading. SacOil requested suspension of trading…
Read MoreGeneral Issue of Shares
SacOil has issued 2,777,777 new ordinary shares of no par value in the share capital of the Company (“SacOil Shares”) at an issue price of R0.27 per ordinary share (“the Issue Shares”), thereby raising a total cash amount of R750,000 (“the Cash Issue”).
Read MoreNo change statement and listing update
The annual general meeting of SacOil will be held on Friday, 29 November 2013 at 10:00 at 2nd Floor, The Gabba, Dimension Data Campus, 57 Sloane Street, Bryanston.
The record date on which members must be recorded as such in the register maintained by the transfer secretaries of the Company for the purpose of being entitled to attend and vote at the annual general meeting is Friday, 22 November 2013.
Read MoreSacOil’s focus will be developing existing assets
OIL exploration company SacOil is undergoing a “rebirth”, in which the company has set a two-year target to develop its oil assets in Africa, interim CE Roger Rees told Business Day on Tuesday
Read MoreIntegrated Annual Report 2013
By reporting on the financial and non-financial performance of the Group, SacOil Holdings Limited’s integrated report aims to provide an understandable and complete view of the business for the Group’s shareholders, potential investors and stakeholders.
Considerable effort has been expended on presenting concise and focused information. The content of this integrated report is deemed to be useful and relevant to our stakeholders, enabling them to evaluate the ability of SacOil to create and sustain stakeholder value. The Statement from the Board of Directors is provided, offering the reader a comprehensive, integrated and high level overview of the Group’s performance and outlook.
Read MoreAudited results for the year ended 28 February 2013
SacOil Holdings Limited is pleased to announce its results for the year ended 28 February 2013. The Group reported a reduction in the loss from continuing operations to R70,1 million (2012: R104,1 million). Contributing towards this positive trend were the disposal of the loss-making Greenhills Manganese plant, the farm-out profit on the Block III exploration and evaluation asset, an increase in investment income by 59%, a 76% reduction in taxation and a 46% reduction in finance costs.
Read MoreAudited results for the year ended 28 February 2013
KEY HIGHLIGHTS
- For the year under review
- Another geography and asset is added in Malawi
- Posting of performance bond on OPL 233 in Nigeria
- Extension of OPL 233 exploration phase by the Nigerian National Petroleum Corporation
- Approval of OPL 233 extension work programme and budget
- Renegotiation of farm-in and joint operating terms for OPL 233
- Total acquires a further 6.67% interest in Block III from SacOil’s partner in Semliki
- Airborne gravity and magnetic survey acquired for Block III
Conversion of debt to equity and Capital raising of up to R570 million
SacOil, the African independent upstream oil and gas company, is pleased to announce that it has concluded an agreement dated 12 September 2013 (the “Gairloch Agreement”) with Gairloch Limited (“Gairloch”) for the conversion of circa US$24.1 million (circa R238.5 million) of debt and accrued interest provided by Gairloch to equity in SacOil by no later than 31 January 2014 (the “Specific Issue”). To the extent that the maximum number of shares is issued in terms of the Specific Issue, SacOil shall be largely debt-free, thereby reducing financing costs and significantly improving its balance sheet position.
Read MoreSacOil Waits for Share Suspension Lift
Despite the appointment of a CE and finance director in recent weeks, long-suffering investors in oil exploration company SacOil Holdings will have to wait a while longer before the suspension of the company’s shares is lifted.
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