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SACOIL HOLDINGS LIMITED - Changes to the Board of Directors

Release Date: 11/12/2014 15:05:00      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?)


SacOil, the African independent upstream Oil & Gas Company,
is pleased to announce the appointment of Mr Damain Matroos
as the Chief Financial Officer of SacOil with effect from 1
February 2015. Mrs Tariro Mudzimuirema, currently Acting
Finance Director, will step down from her position on the
same date. Tariro will return to the position of Financial
Manager on the same date.

Damain holds a BCom (Accounting) degree and Post Graduate
Diploma in Accounting (PGDA) from the University of Cape
Town and is a qualified Chartered Accountant. Mr Matroos
has over 15 years? experience in corporate finance both in
the United Kingdom and more recently in South Africa.

He will join SacOil from Sasol, where he currently holds
the position of Vice President ? Corporate Finance
responsible for mergers & acquisitions and specialized
funding for the Sasol Group. He spent 6 years at Sasol,
where he also held a position of General Manager, Group
Corporate Finance. He has played a significant corporate
finance role on a number of Sasol?s major capital projects,
including its mining and upstream activities. He was also
the overall lead for the successful restructuring of the
Sasol Group?s global legal structure.

Prior to working at Sasol, he worked in the United Kingdom
in various senior management roles responsible for
corporate finance and strategy.

Commenting on the appointment, Dr Kgogo, Chief Executive
Officer said ?Damain?s appointment is a valuable addition
to the executive team and joins SacOil at an exciting time
as we build a leading Pan African Oil and Gas Company. On
behalf of the board, I would like to thank Tariro for the
dedication, hard work and professionalism during the
interim period?

The following information is disclosed pursuant to Schedule
Two paragraph (g) of the AIM Rules for Companies:

Full Name: Mr Marius Damain Matroos
Aged: 43

Current Directorships: K2014047923(South Africa) Pty) Ltd
Directorships and partnerships held in the last 5 years:

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

11 December 2014

JSE Sponsor
PSG Capital

For   further      information   please

SacOil Holdings Limited
Dr Thabo Kgogo                            +27 (0)11 575 7232

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

FirstEnergy Capital (Financial
Adviser and Joint Broker UK)              +44 (0)20 7448 0200

Travis Inlow

Instinctif Partners London (UK
Investor Relations)
David Simonson / Anca Spiridon            +44 (0)20 7457 2020

Instinctif Partners Johannesburg (SA
Investor Relations)
Nicholas Williams / Fred Cornet           +27 (0)11 447 3030

Date: 11/12/2014 03:05:00 Supplied by www.sharenet.co.za                     
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