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SACOIL HOLDINGS LIMITED - Results of Annual General Meeting

Release Date: 12/09/2014 14:00:00      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

Results of annual general meeting

Shareholders are referred to the notice of annual general meeting ("AGM") attached to the integrated
annual report for the year ended 28 February 2014, posted to shareholders on 19 June 2014.

Shareholders are advised that at the AGM held today, the following ordinary and special resolutions
contained in the notice of AGM, were passed by the requisite majority of shareholders present or
represented by proxy:

    1. Ordinary resolution number 1 relating to the adoption of the annual financial statements for the
       year ended 28 February 2014 with a 100% majority;

    2. Ordinary resolution number 2 relating to the confirmation of the appointment of Bradley Cerff as a
       director with a 100% majority;

    3. Ordinary resolution number 3 relating to the reappointment of the external auditor with a 100%

    4. Ordinary resolutions number 4.1 to 4.3 relating to the re-election of directors who retire by

             -   Tito Mboweni with a 96.48% majority;
             -  Mzuvukile Maqetuka with a 96.48% majority; and
             -   Stephanus Muller with a 100% majority;

    5. Ordinary resolutions number 5.1 to 5.3 relating to the election of Audit Committee members:

             -   Stephanus Muller (Chairman) with a 100% majority;
             -   Vusumzi Pikoli with a 100% majority; and
             -   Mzuvukile Maqetuka with a 96.48% majority;

    6. Ordinary resolution number 6 relating to the endorsement of SacOil?s remuneration policy with a
       97.86% majority;

    7. Ordinary resolution number 7 relating to the general authority to directors to allot and issue
       authorised but unissued ordinary shares with a 100% majority;

    8. Ordinary resolution number 8 relating to the general authority to issue shares for cash with a
       97.87% majority;

    9. Ordinary resolution number 9 relating to the authority to sign all required documentation with a
       100% majority;

    10. Ordinary resolution number 10 relating to the amendments to the SacOil Share Option Scheme
        with a 97.87% majority;

    11. Special resolution number 1 relating to the general authority to acquire (repurchase) shares with a
        97.87% majority;
    12. Special resolution number 2 relating to the remuneration of non-executive directors with a 100%
        majority; and

    13. Special resolution number 3 relating to the financial assistance in terms of sections 44 and 45 of the
        Companies Act with a 100% majority.

All of the special resolutions passed at the AGM will be filed with, and registered where required, with the
Companies and Intellectual Property Commission.

12 September 2014

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 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

 Bell Pottinger (Press Relations UK)
 Philip Dennis                                                    +44 (0) 20 3772 2557
 Rollo Crichton-Stuart                                            +44 (0) 20 3772 2569

Date: 12/09/2014 02:00:00 Supplied by www.sharenet.co.za                     
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