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Issue of Shares for Cash to YA Global Masters Spv

SACOIL HOLDINGS LIMITED
(
Incorporated in the Republic of South Africa)
(
Registration number 1993/000460/06)
J
SE share code: SCL / AIM share code: SAC
I
SIN: ZAE000127460
(
“SacOil” or “the Company”)

ISSUE OF SHARES FOR CASH TO YA GLOBAL MASTERS SPV

SacOil shareholders (“Shareholders”) are advised that further to the general meeting of Shareholders which was held on Thursday, 17 November 2011 (“general meeting”) and the passing of a special resolution relating to a specific authority to issue up to a maximum of 339 390 036 SacOil ordinary shares (“Shares”) over a three year period ending November 2014 (“Specific Issue”), 14 318 181 Shares (the “SEDA Shares”) have been issued to YA at a price of R0,44 per Share pursuant to the terms of the Standby Equity Distribution Agreement dated 12 October 2011.

Application has been made to the JSE Limited (“JSE”) to grant a listing of the SEDA Shares and to the London Stock Exchange for the admission of the SEDA Shares to trading on the AIM Market. The listing of the SEDA Shares on the JSE and the admission of the SEDA Shares to trading on AIM are expected to take place on Tuesday, 13 December 2011. The proceeds of the issue of the SEDA Shares will be utilised to repay short term debt.

JSE Sponsor
The Standard Bank of South Africa Limited

For further information please contact:

AIM Nominated Adviser and Joint Broker
f
innCap Limited
Matthew Robinson / Christopher Raggett +44 (0)20 7220 0500

Joint Broker (United Kingdom)
S
hore Capital Stockbrokers Ltd
Jerry Keen / Bidhi Bhoma +44 (0) 20 7408 4090

Public Relations (South Africa)
T
he Riverbed Agency (SA)
Raphala Mogase / Bongiwe Moeli +27 (0) 11 783 7903

Public Relations (United Kingdom)
Philip Dennis/Nick Lambert/Rollo Critchton-Stuart +44 (0)20 7861 3232

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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.