Resignation of Independent Non-executive Director
SACOIL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: SCL AIM Share Code: SAC
(“SacOil” or “the Company”)
RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR
In compliance with section 3.59 (b) of the Listings Requirements of the Johannesburg Stock Exchange (“JSE”), shareholders are advised that Mr Steve Muller resigned as an independent non-executive director and as the chairman of the audit and risk committee of the Company on 15 September 2016 in order to pursue other business opportunities.
Accordingly, ordinary resolutions 2.3 and 3.1, as per the AGM notice distributed to shareholders on 25 July 2016, are hereby withdrawn. The Board has appointed Mr Ignatius Sehoole, an existing independent non-executive director, as a member and chairperson of the Audit and Risk Committee.
Mr Muller was appointed as an independent non-executive director of SacOil on 10 June 2013 and served as chairperson of the Audit and Risk Committee and also as a member of the Nomination and Investment Committees.
Mr Tito Mboweni, Independent Non-Executive Chairman of SacOil said: “The Board of SacOil would like to thank Steve for his support and contribution over the last 3 years and wish him well for the future, as he pursues his other business interests”.
PSG Capital Proprietary Limited
16 September 2016
For further information please contact:
SacOil Holdings Limited
+27 (0)10 591 2260
finnCap Limited (Nominated Adviser and Joint broker)
Christopher Raggett and James Thompson
+44 (0) 20 7220 0500
FirstEnergy Capital (Joint broker)
Hugh Sanderson / David van Erp
+44 (0) 20 7448 0200
Buchanan (Financial PR adviser) – UK
Ben Romney / Chris Judd / Madeleine Seacombe
+44 (0)20 7466 5000
Hill + Knowlton Strategies (Financial PR adviser) – SA
+27 11 463 2198
SacOil is a South African based independent African oil and gas company, dual-listed on the JSE and AIM. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo, Malawi and Botswana; and midstream projects including crude trading in Nigeria and a terminal project in Equatorial Guinea. 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. The Company continues to evaluate industry opportunities throughout Africa as it seeks to establish itself as a leading, full-cycle pan-African oil and gas company.
IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES
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