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SACOIL HOLDINGS LIMITED - Appointment of Directors

Release Date: 12/07/2013 15:30:00      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 ?Company?)

                                  Appointment of Directors

SacOil is pleased to announce the formal appointment of Mr Ignatius Sehoole as non-
executive director and Mr Vusumzi Pikoli as independent non-executive director of the
Company with immediate effect.

Mr Sehoole is a Chartered Accountant by qualification. He serves as a member of the Board
of Directors of the Public Investment Corporation SOC Limited (the ?PIC?). The other
governance roles that he fulfils at the PIC are as follows:
   - the Chairman of the Audit and Risk Committee;
   - the Chairman of the Social and Ethics Committee;
   - a member of the Human Resources and Remuneration Committee;
   - a member of the REAM Committee; and
   - a member of the Directors? Affairs Committee.

He also serves on the Board of Harith Fund Managers Proprietary Limited, in which the PIC is
a shareholder. Outside of the PIC, Mr Sehoole serves on the Board of the Specialist
Committee on Company Law, as well as on the Accounting Standards Board. Previously he
was a member of the King Committee on Corporate Governance, a President of the South
African Institute of Chartered Accountants and, until March 2010, the Chairman of the Audit
Committee at the National Treasury.

Mr Pikoli, an advocate by qualification, was previously the National Director of Public
Prosecutions, and was the head of the National Prosecuting Authority. Prior to that he
served as the Director-General of the Department of Justice and Constitutional Development.
He is a former trustee of the Constitutional Court Trust, and formerly a member of the
International Association of Anti-Corruption Authorities. Until February 2012 he was a
director of the Forensic Investigation division at SizweNtsalubaGobodo. He previously also
headed the forensics department at Gobodo Inc. Currently he is an independent director on
the Board of Cricket South Africa, where he chairs the Social and Ethics Committee.

Mr Tito Mboweni, the Chairman of the Board of SacOil, commented as follows on the
?I am delighted that these two gentlemen of highest standing have agreed to join the board
of SacOil Holdings Limited. Their integrity and highest ethical standards will be an added
bonus for our business. I look forward to working with them in growing this business into a
giant pan-African enterprise".
The following further information in relation to the appointments of Messrs Sehoole and
Pikoli is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies:

Full name:     Ignatius Simon Sehoole
Age:           53

Current directorships and partnerships:          Directorships and partnerships held in
                                                 the last 5 years:
Harith Fund Managers (Pty) Ltd                   PricewaterhouseCoopers Incorporated
Public Investment Corporation SOC Limited        MTN Group Limited
MTN Mobile Money Holdings (Pty) Ltd              Accounting Standards Board

MTN Service Provider (Pty) Ltd                   Mobile Telephone Networks (Pty) Ltd
Sizasana Investment Holdings (Pty) Ltd           Thuthuka Education Upliftment Fund
                                                 (Association Inc under Section 21)
Stand 163000 Jansen Park (Pty) Ltd               Oltio (Pty) Ltd

Mr Ignatius Sehoole does not currently hold any shares in the capital of SacOil.

Full name:     Vusumzi Patrick Pikoli
Age:           55

Current directorships and partnerships:          Directorships and partnerships held in
                                                 the last 5 years:
Cricket South Africa                             National Director of Public Prosecution
Vee Pee Forensic Consultants (Pty) Ltd           Director General ? Department of Justice and
                                                 Constitutional Development
                                                 Rondolite (Pty) Ltd
                                                 Bureau Of Justice Assistance (Association Inc
                                                 Under Section 21)
                                                 Sizwentsalubagobodo Advisory Services (Pty)

Mr Pikoli does not currently hold any shares in the capital of SacOil.

12 July 2013


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Date: 12/07/2013 03:30:00 Supplied by www.sharenet.co.za                     
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