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Edison Investment Research Update

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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.

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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.