Results of General Meeting and Appointment of Directors
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SACOIL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE share code: SCL AIM share code: SAC
ISIN: ZAE000127460
(“SacOil” or the “Company”)
RESULTS OF GENERAL MEETING AND APPOINTMENT OF DIRECTORS
SacOil Shareholders are referred to the notice of general meeting attached to the circular posted to Shareholders on 7 November 2013 (the “Circular”) containing details of the conversion of the Gairloch debt to equity and the capital raising of up to R570 million by way of a renounceable rights offer.
Capitalised terms in this announcement shall have the same meaning given to them in the Circular, unless the context indicates otherwise.
Results of the General Meeting
Shareholders are advised that, at the General Meeting held today, all the ordinary and special resolutions tabled were approved by the requisite majority of votes required from Shareholders present in person or represented by proxy.
The special resolution passed at the General Meeting will be filed with, and registered where required, by the Companies and Intellectual Property Commission.
Appointment of Directors
At the General Meeting, Mr Danladi Verheijen and Ms Lola Akinleye were appointed as non-executive Directors of the Company with effect from the Completion Date (as defined in Annexure 5 of the Circular), which is expected to be on or about Monday, 27 January 2014.
The following further information in relation to the appointments of Mr Verheijen and Ms Akinleye is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies:
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Full name: |
Mr Danladi Michael Verheijen |
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Age: |
37 |
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Experience and principal activities: |
Danladi is the managing director of Verod Capital Management Limited (“Verod”), a West African focused investment firm, which he co-founded in 2008. Verod invests in high growth, medium-sized companies across several sectors, including consumer products, manufacturing, technology/media and real estate. He previously was a Vice President at Citibank Nigeria where he led corporate finance and investment banking transactions. He also had responsibility over Citibank’s equity investment portfolio and represented the bank on the investment and advisory committee of Nigeria’s largest private equity firm. Prior to that, he held roles at Ocean and Oil Holdings and at McKinsey & Company. |
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Current directorships and partnerships: |
Verod Harvard Business School Association of Nigeria Christian Care for Widows and the Aged |
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Directorships and partnerships held in the last five years: |
Royal Exchange Finance and Investment Limited Energy Equity Resources (Norway) Limited |
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Full name: |
Titilola Abisoye Akinleye |
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Age: |
41 |
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Experience and principal activities: |
Lola has over 15 years’ finance and investment banking experience with significant experience in corporate finance advisory, equity and debt capital raising, structured project finance and with public and private partnerships for development of infrastructure. She began her career at General Electric London and has held roles at JP Morgan, ARM Investment Managers and Zenith Capital. |
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Current directorships and partnerships: |
SMARTT Futures Resources Limited VIDA Fashions Limited Tatin True Concepts Limited SNL Internautical Limited |
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Directorships and partnerships held in the last five years: |
None |
Johannesburg
6 December 2013
JSE Sponsor
Nedbank Capital
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For further information please contact: |
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SacOil Holdings Limited Roger Rees / Tariro Mudzimuirema |
+27 (0)11 575 7232 |
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Nedbank Capital, a division of Nedbank Limited (Investment Bank, Corporate Advisor and Sponsor) Michelle Benade |
+27 (0) 11 294 3524 |
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finnCap Limited (Nominated Adviser and Broker) Matthew Robinson / Christopher Raggett |
+44 (0) 20 7220 0500 |
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FirstEnergy Capital (Joint Broker UK) Majid Shafiq Travis Inlow |
+44 (0) 20 7448 0200 |
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Pelham Bell Pottinger (UK) Philip Dennis Nick Lambert Rollo Crichton-Stuart |
+44 (0) 20 7861 3919 +44 (0) 20 7861 3936 +44 (0) 20 7861 3918 |
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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.