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Scl - Sacoil Holdings Limited - Legal Action Taken Against Sacoil

Release Date: 22/09/2010 16:47:01      Code(s): SCL
SCL - SacOil Holdings Limited - Legal action taken against SacOil               
SacOil Holdings Limited                                                         
Incorporated in the Republic of South Africa                                    
Registration number: 1993/000460/06                                             
Share code: SCL                                                                 
ISIN code: ZAE000127460                                                         
("SacOil" or "the Company")                                                     
Legal action taken against SacOil                                               
SacOil shareholders ("Shareholders") are referred to the previous announcement  
published on SENS on 15 September 2010 ("the Announcement") in which            
Shareholders were advised that the Company had been cited as defendant in an    
action instituted by one Joseph Gadifele Modibane ("the Plaintiff") in the North
Gauteng High Court.                                                             
Shareholders are advised that the Company is now in receipt of a second summons 
from the Plaintiff citing the Company as first defendant in another action      
instituted in the North Gauteng High Court. In his particulars of claim the     
Plaintiff alleges that the content of the Announcement was defamatory of the    
Plaintiff and claims payment from the Company of damages in the amount of R80   
000 000.                                                                        
The Company believes the claim is without substance and has instructed its legal
representatives, Deneys Reitz, to vigorously defend the action.                 
Midrand                                                                         
22 September 2010                                                               
Sponsor                                                                         
BDO Corporate Finance                                                           
                                                                                
Date: 22/09/2010 16:47:01 Supplied by www.sharenet.co.za                     
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