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Change to the Board of Directors and Dealing in Securities by Directors – acceptance of share options

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”)

Change to the Board of Directors and Dealing in Securities by Directors – acceptance of share options

Change to the board of directors

In compliance with Section 3.59 of the JSE Listing Requirements, the Board of Directors of SacOil (“Board”) are pleased to announce the appointment of Carina de Beer to the Board as an Executive Director, in the position of Financial Director, with immediate effect.

Carina is a Chartered Accountant (SA) and has 11 years’ experience in corporate financial management and reporting, corporate secretarial practice as well as corporate governance. She is a member of the South African Institute of Chartered Accountants, of the Chartered Secretaries Southern Africa and of the Institute of Directors.

Dealings in securities by Directors: Acceptance of share options In compliance with Section 3.63 of the JSE Listings Requirements, the following information relating to dealings in SacOil shares by Directors is disclosed:

Nature of Transaction: Grant and acceptance of share options in terms of and subject to the rules of the company’s Share Option Scheme

Latest exercise date: 8 July 2020

Extent of interest: Direct beneficial

Name of director: G Moseneke

Name of company: SacOil

Position: Non-executive Director

Grant date: 8 July 2010

Date of acceptance: 10 August 2010

Number of securities: 3,132,916

Class: Ordinary shares

Option price: R 0.29

Nature of Transaction: Grant and acceptance of share options in terms of and subject to the rules of the company’s Share Option Scheme

Latest exercise date: 8 July 2020

Extent of interest: Direct beneficial

Name of director: C de Beer

Name of company: SacOil

Position: Financial Director

Grant date: 8 July 2010

Date of acceptance: 2 August 2010

Number of securities: 3,132,916

Class: Ordinary shares

Option price: R0.29

Nature of Transaction: Grant and acceptance of share options in terms of and subject to the rules of the company`s Share Option Scheme

Latest exercise date: 8 July 2020

Extent of interest: Direct beneficial

The above are off-market transactions. Clearance for these transactions was provided in terms of Section 3.66 of the JSE Listings Requirements.

Midrand

10 August 2010

Sponsor

BDO Corporate Finance

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IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES

If you are in any doubt as to what action you should take, consult your CSDP, Broker, Banker, Legal Adviser, Accountant or other professional advisers immediately.

Or visit our Shareholder Information page for more information regarding your shareholding and share certificate.

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