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SCL - SacOil Holdings Limited - Issue of shares for cash to Ya Global Masters

Release Date: 07/12/2011 09:10:35      Code(s): SCL
SCL - SacOil Holdings Limited - Issue of shares for cash to Ya Global Masters   
Spv Ltd                                                                         
SacOil Holdings Limited                                                         
Incorporated in the Republic of South Africa                                    
Registration number: 1993/000460/06                                             
Share code: SCL                                                                 
ISIN code: ZAE000127460                                                         
7 December 2010                                                                 
SacOil shareholders ("Shareholders") are advised that further to the general    
meeting of Shareholders which was held on Thursday, 17 November 2011 ("general  
meeting") and the passing of a special resolution relating to a specific        
authority to issue up to a maximum of 339 390 036 SacOil ordinary shares        
("Shares") over a three year period ending November 2014 ("Specific Issue"),    
14 318 181 Shares (the "SEDA Shares") have been issued to YA at a price of R0,44
per Share pursuant to the terms of the Standby Equity Distribution Agreement    
dated 12 October 2011.                                                          
Application has been made to the JSE Limited ("JSE") to grant a listing of the  
SEDA Shares and to the London Stock Exchange for the admission of the SEDA      
Shares to trading on the AIM Market. The listing of the SEDA Shares on the JSE  
and the admission of the SEDA Shares to trading on AIM are expected to take     
place on Tuesday, 13 December 2011. The proceeds of the issue of the SEDA Shares
will be utilised to repay short term debt.                                      
JSE Sponsor                                                                     
The Standard Bank of South Africa Limited                                       
For further information please contact:                                         
AIM Nominated Adviser and Joint Broker                                          
finnCap Ltd                                                                     
Matthew Robinson / Christopher Raggett         +44 (0)20 7220 0500              
Joint Broker (United Kingdom)                                                   
Shore Capital Stockbrokers Ltd                                                  
Jerry Keen / Bidhi Bhoma                       +44 (0)20 7408 4090              
Public Relations (South Africa)                                                 
The Riverbed Agency (SA)                                                        
Raphala Mogase / Bongiwe Moeli                 +27 (0) 11 783 7903              
Public Relations (United Kingdom)                                               
Pelham Bell Pottinger (UK)                                                      
Philip Dennis/Rollo Critchton-Stuart           +44 (0)20 7861 3232              
Date: 07/12/2011 09:10:35 Supplied by www.sharenet.co.za                     
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