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Issue of Equity


(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

AIM share code: SAC

JSE share code: SCL

ISIN: ZAE0000127460

SacOil Holdings Limited

(“SacOil” or the “Company”)

Issue of Equity (‘AIM’)

SacOil, the independent Pan-African upstream oil and Gas Company, announces that it has raised ZAR5, 000,000 by the issue of 11,111,112 new ordinary shares of no par value in SacOil (“Ordinary Shares”) to Peregrine Securities Pty Ltd (‘Peregrine’) at a price of ZAR0.45 per Ordinary Share being a 10% discount to the 30 day VWAP of Ordinary Shares on 16 January 2012, the day prior to the signing of an irrevocable undertaking by Peregrine to subscribe for Ordinary Shares.

Application has been made for these Ordinary Shares to be listed on the JSE Limited (‘JSE’) and admitted to trading on the AIM Market of the London Stock Exchange plc and such listing and admission are expected to occur no later than 1 February 2012.

31 January 2012


JSE Sponsor

The Standard Bank of South Africa Limited

For further information, please contact:

AIM Nominated Adviser and Joint Broker

finnCap Ltd

Matthew Robinson / Christopher Raggett

+44 (0)20 7220 0500

Joint Broker (United Kingdom)

Shore Capital Stockbrokers Ltd

Jerry Keen / Bidhi Bhoma

+44 (0)20 7408 4090

Public Relations (South Africa)

The Riverbed Agency (SA)

Raphala Mogase / Bongiwe Moeli

+27 (0) 11 783 7903

Public Relations (United Kingdom)

Pelham Bell Pottinger (UK)

Philip Dennis/ Nick Lambert/Rollo Crichton-Stuart

+44 (0)20 7861 3232


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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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