Results of Annual General Meeting and Changes to the Board
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”)
RESULTS OF ANNUAL GENERAL MEETING (“the AGM”) AND CHANGES TO THE BOARD
CHANGES TO THE BOARD
In compliance with rule 3.59(b) of the Listings Requirements of the JSE Limited, shareholders of the Company are hereby advised that Mr Danladi Michel Verheijen indicated that he will not offer himself for re-election as non-executive director at the SacOil AGM. Ordinary resolution 2.1, as per the AGM notice sent to shareholders on 25 July 2016, was withdrawn at the AGM following Mr Verheijen’s decision.
Mr Tito Mboweni, the Chairman of the Board said: “Mr Verheijen has been a wonderful asset to the Board and I would like to thank him for his outstanding contributions to the development of SacOil Holding Limited. I wish him much success in the future and thank him for the years of service to SacOil.”
RESULTS OF AGM
Shareholders are referred to the AGM which was held at 1st Floor, 12 Culross Road, Bryanston today, 19 September 2016 at 10h00 and are advised that in terms of paragraph 3.91 of the JSE Listings Requirements, all ordinary and special resolutions proposed in the Notice of Annual General Meeting were passed, other than ordinary resolution 4, by the requisite number of shareholders present and represented by proxy and being entitled to vote at the AGM.
The resolutions proposed, and the details of results are set out below:
Votes for resolution (%) *
Votes against resolution (%) *
Shares abstained as a percentage (%) of shares in issue
Ordinary resolution number 1: Reappointment of external auditors
Ordinary resolution number 2.1: Re-election of retiring directors – Reappointment of DM Verheijen – WITHDRAWN
Ordinary resolution number 2.2: Re-election of retiring directors – Reappointment of TA Akinleye
Ordinary resolution number 2.3: Re-election of retiring directors – Reappointment of S Muller – WITHDRAWN
Ordinary resolution number 3.1: Election of members of the audit and risk committee
– Reappointment of S Muller – WITHDRAWN
Ordinary resolution number 3.2: Election of members of the audit and risk committee
– Reappointment of V Pikoli
Ordinary resolution number 3.3: Election of members of the audit and risk committee
– Reappointment of M Maqetuka
Ordinary resolution number 4: Endorsement of remuneration policy
Ordinary resolution number 5: General authority to issue shares
Ordinary resolution number 6: General authority to issue shares for cash
Special resolution number 1: General authority to repurchase shares
Special resolution number 2: Remuneration of non-executive directors
Special resolution number 3: Intercompany financial assistance
Special resolution number 4: Financial assistance for acquisition of shares in a related or inter- related company
Special resolution number 5: Amendment to the MOI
Note * – In relation to the total number of shares voted at the AGM.
Total shares voted in person or by proxy amounted to 76.99% of total issued share capital, being 2 517 412 223 voted shares.
PSG Capital Proprietary Limited 19 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
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.