SACOIL HOLDINGS LIMITED - Appointment of directorsRelease Date: 31/05/2013 17:50:00 Code(s): SCL
SACOIL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE share code: SCL AIM share code: SAC
(?SacOil? or ?the Company?)
Appointment of Directors
Shareholders are referred to the announcements dated 22 April 2013 and 31 May 2013 in terms of which
the Company announced changes to its board of directors.
As was previously announced, the Company has agreed to appoint Mr Tito Titus Mboweni as its new
independent non-executive Chairman, and Mr Mzuvukile Jeff Maqetuka as an independent non-executive
director. The Company?s advisors are in the process of finalising various administrative and regulatory
compliance requirements in this regard, after which the new directors will be formally appointed and able
to assume office with full capacity as directors.
Further, the Company is pleased to announce the proposed appointment of Mr Stephanus Hilgard Muller
as Director in the capacity of independent non-executive director. His appointment will be finalised once
the Company?s advisors have concluded the standard regulatory compliance reviews in this regard. Mr
Muller qualified as a chartered accountant in 1985, completing his articles at Peat, Marwick, Mitchells & Co.
He worked in various audit and corporate finance capacities at Aiken and Peat, prior to joining Rand
Merchant Bank. Subsequently he joined Genbel Investments, where he eventually held the office of Group
Chief Operating Officer: Equities of Genbel Securities Limited. Currently he serves as an independent non-
executive director at Amalgamated Appliances limited, where he is the Chairman of the Group?s audit and
risk committee. He is also an independent non-executive director and member of the audit committee of
Kap Industrial Holdings Limited.
These new appointments are expected to stabilise the Company and, further announcements will be made
in due course.
31 May 2013
For further information please contact:
SacOil Holdings Limited +27 (0)11 575 7232
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
GMP Securities Europe LLP (Joint Broker UK) +44 (0) 20 7647 2800
Keyter Rech Investor Solutions (SA)
Vanessa Ingram +27 (0) 11 447 2993
Pelham Bell Pottinger (UK)
Philip Dennis +44 (0) 20 7861 3919
Nick Lambert +44 (0) 20 7861 3936
Rollo Crichton-Stuart +44 (0) 20 7861 3918
Date: 31/05/2013 05:50:00 Supplied by www.sharenet.co.za
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