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Trading Statement


(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

JSE share code: SCL

AIM share code: SAC

ISIN: ZAE0000127460

(“SacOil” or “the Company” or “the Group”)


In accordance with paragraph 3.4 (b) of the Listing Requirements of the JSE Limited, companies are required to inform shareholders as soon as there is a reasonable degree of certainty that the earnings of the company are likely to vary by more than 20% compared to the previous reporting period.

Shareholders are advised that for the six months ended 31 August 2014 the Group is expected to report basic earnings per share (“EPS”) and headline earnings per share (“HEPS”) of between 0.65 cents and 0.79 cents per share, being a decrease of 64% to 84% compared to the reported EPS and HEPS of 2.76 cents for the six months ended 31 August 2013.

The main factors leading to the decrease in earnings are in relation to the impact of currency valuations on financial assets as well as a provision for impairment and the higher expensed business development activities.

The information in this trading statement has neither been reviewed nor reported on by the Company’s external auditors.

The Group’s interim financial results for the six months ended 31 August 2014 are expected to be released on or about 3 November 2014.


29 October 2014

JSE Sponsor

Nedbank Capital

For further information please contact:

finnCap Limited (Nominated Adviser and Broker)

Matthew Robinson / Christopher Raggett

+44 (0) 20 7220 0500

FirstEnergy Capital (Financial Adviser and Joint Broker UK)

Majid Shafiq / Travis Inlow

+44 (0) 20 7448 0200

Instinctif Partners London (UK Investor Relations)

David Simonson / Anca Spiridon

+44 (0)20 7457 2020

Instinctif Partners Johannesburg (SA Investor Relations)

Nicholas Williams / Fred Cornet

+27 (0)11 447 3030


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