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SACOIL HOLDINGS LIMITED - Appointment of Independent Non-Executive Chairman and Independent Non-Executive Director

Release Date: 22/04/2013 12:00:00      Code(s): SCL     
(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 Group?)

   Appointment of Independent Non-Executive Chairman and Independent Non-Executive Director

SacOil, the African independent upstream oil and gas company, is pleased to announce the appointment of
Mr Tito Titus Mboweni as independent non-executive chairman and Ambassador Mzuvukile Jeff Maqetuka
as independent non-executive director of SacOil with effect from 1 June 2013.

Mr Mboweni is the immediate past Governor of the South African Reserve Bank, a former Minister of
Labour in the Republic of South Africa in past President Nelson Mandela's cabinet and one of the World
Economic Forum's Global Leaders of Tomorrow.

Mr Mboweni is also the independent non-executive chairman of AngloGold Ashanti Limited, the non-
executive chairman of Nampak Limited, and an international advisor to Goldman Sachs International.
Furthermore he is a Trustee and Chairman of the Fundraising Committee of the Nelson Mandela Children?s
Hospital, and a Trustee and a member of the Thabo Mbeki Foundation.

Ambassador Maqetuka has more than 17 years? experience in Intelligence Services and International
Relations. He has occupied high ranking positions in the various Intelligence Services of the Republic of
South Africa, culminating in his appointment as the Director General of the State Security Department with
the with over all responsibility to coordinate and supervise the work of both internal and external
intelligent agencies. He has also held high ranking positions in International Relations-focused functions of
various departments of the Government of the Republic of South Africa, resulting in his secondment as
South Africa?s Ambassador to the People?s Democratic Republic of Algeria. In the private sector
Ambassador Maqetuka serves as a non-executive director of the Eastern Cape Development Corporation,
and has served as an advisor to Boards of several companies.

The appointments of Mr Mboweni and Ambassador Maqetuka are part of SacOil?s efforts to restructure its
team, and bring on board capabilities that will enable it to unlock the value in its underlying assets, as well
as to secure new oil and gas acreage across the African continent.

Commenting, Robin Vela, CEO of SacOil, said:
?SacOil is humbled to have acceptances to join its board from pre-eminent South Africans such as Mr
Mboweni and Ambassador Maqetuka. Their addition to the board will not only transform the SacOil board
but add heavy weight individuals with experience and leadership roles in corporate South Africa but also in
international relations across the African continent?.

Mr Mboweni remarked about his appointment to the board of directors of SacOil: "I am delighted to join
the board of SacOil. It has always been my wish to be part of efforts that harness Africa's resources. The oil
and gas business is one avenue through which Africa's resources can be restored to her people. I look
forward to working with my new colleagues in building SacOil into a giant enterprise in the quest for
Africa's development."

Further information required to be disclosed by the AIM Rules will be provided prior to the effective date of

22 April 2013

JSE Sponsor
Nedbank Capital
For further information please contact:

finnCap Limited (Nominated Adviser and Broker)           +44 (0) 20 7220 0500
Matthew Robinson / Christopher Raggett

FirstEnergy Capital (Joint Broker UK)                    +44 (0) 20 7448 0200
Majid Shafiq/ Travis Inlow

GMP Securities Europe LLP (Joint Broker UK)              +44 (0) 20 7647 2800
James Pope/ Chris Beltgens

Keyter Rech Investor Solutions (Investor Relations SA)
Vanessa Ingram/ Lynne van der Schyff                     +27 (0) 11 447 2993

The Riverbed Agency (Press Relations SA)
Raphala Mogase                                           +27 (0) 11 783 7903

Pelham Bell Pottinger (Press Relations UK)
Philip Dennis                                            +44 (0) 20 7861 3919
Rollo Crichton-Stuart                                    +44 (0) 20 7861 3918

Date: 22/04/2013 12:00:00 Supplied by www.sharenet.co.za                     
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