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Interim Appointments

EFORA ENERGY LIMITED
(Formerly SacOil Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL ISIN: ZAE000248258
(“Efora” or “the Company”)

INTERIM APPOINTMENTS

Efora, the South African based independent oil and gas company, is pleased to announce the appointment of Damain Matroos as Interim Chief Executive Officer (“CEO”) and Tariro Gadzikwa as Interim Chief Financial Officer (“CFO”), with immediate effect. This follows the announcement made by the Company on 25 October that Dr Thabo Kgogo would be stepping down from the position of CEO.

Damain Matroos, has over 20 years of corporate finance experience in both the UK and South Africa. He has extensive knowledge of the Company and its operations having joined the Company as CFO in February 2015.

Tariro Gadzikwa is a chartered accountant with over 14 years of global experience and joined the Company in 2013. She is currently the Company’s financial controller and will replace Mr Matroos as CFO during this time.

The Company’s search for a new CEO remains active, and the Board are confident that Mr Matroos and Ms Gadzikwa will execute the office of their new positions with continued diligence.

Non-Executive Chairman, Boas Seruwe commented:

“On behalf of myself and the rest of the Board, I would like to thank Dr Kgogo for his significant contribution to the Company and wish him all the best in the future.”

“The Board fully supports the interim appointment of Mr Matroos and Ms Gadzikwa and we look forward to working closely with them during the search for Dr Kgogo’s replacement.”

Damain Matroos, Interim CEO commented: “I look forward to working with the Chairman, the Board and the excellent management team at Efora and I have every confidence that we will enhance the business’ current momentum and continue to deliver on our strategy.”

Johannesburg

23 November 2018

Sponsor
PSG Capital

For further information please contact:

Efora Energy Limited
Damain Matroos +27 (0)10 591 2260

Buchanan (Financial PR adviser)
Ben Romney / Chris Judd +44 (0)20 7466 5000

About Efora
Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration in the Democratic Republic of Congo; a midstream project relating to crude trading in Nigeria and material downstream distribution operations throughout South Africa and Zimbabwe. Our focus as a Group is on delivering energy for the African continent by using Africa’s own resources to meet the significant growth in demand expected over the next decade.

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