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Sacoil Holdings Limited - Appointment Of Non-executive Directors

Release Date: 18/04/2017 11:00:00      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
ISIN: ZAE000127460
("SacOil" or "the Company" or "the Group")

APPOINTMENT OF NON-EXECUTIVE DIRECTORS

Further to the announcement of 22 March 2017, SacOil are
pleased to announce that the Board has confirmed the
appointments of Ms Thuto Masasa, Mr Patrick Mngconkola and Mr
Boas Seruwe as Non-Executive Directors with immediate effect
following the completion of satisfactory due diligence as
required by the AIM Rules for Companies.

The following information is disclosed under Schedule 2(g) of
the AIM Rules for Companies:

Ms Thuto Margaret Masasa, aged 37, does not currently hold any
ordinary shares in the Company.

Current directorships and/or        Former directorships
partnerships:                       and/or     partnerships
                                    (within the last 5 years):
Nkonki Incorporated                 Stratvest Explorer 1

Nkonki Corporate Finance            Stratvest Explorer 2
Incorporated
                                    Stratvest Explorer 3
Nkonki Praxley Corporate Finance
Incorporated                        StratCorp

Mpumalanga Economic Growth Agency   StratCorp Property Holdings

Londvolota Trust

Beyond The Lemonade Stand

Wheelsonus

K2015052963 (SOUTH AFRICA)

Eliowell
Mathews College

Mr Sebenzile Patrick Mngconkola, aged 54, does not currently
hold any ordinary shares in the Company.

Current directorships and/or        Former directorships
partnerships:                       and/or partnerships
                                    (within the last 5 years):
Public Investments Corporation      Government Employees Pension
(SOC) Limited                       Fund of South Africa

V And A Waterfront Holdings Pty Ltd

Victoria And Alfred Waterfront Holdings Pty Ltd

Growthpoint Properties Limited

Harith General Partners (Pty) Ltd

Luminox Pty

Mr Take Boas Seruwe, aged 51, does not currently hold any
ordinary shares in the Company.

Current directorships and/or     Former directorships
partnerships:                    and/or partnerships
                                 (within the last 5 years):
Bakubung Business Supplies (Pty) Unemployment Insurance Fund
                                 Ltd

Bophelo Insurance Group (Pty) Ltd

Nzalo Insurance Services Limited

Daybreak Farms (Pty) Ltd

Bakubung Distribution (Pty) Ltd

Phaphamani Advertising Agency (Pty) Ltd

Save as disclosed above there are no additional disclosures to
be made in accordance with Rule 17 or Schedule Two paragraph (g)
of the AIM rules regarding Ms Thuto Masasa, Mr Patrick Mngconkola
and Mr Boas Seruwe.
JSE Sponsor

PSG Capital Proprietary Limited

For further information please contact:

SacOil Holdings Limited
Damain Matroos
+27 (0)10 591 2260

finnCap Limited (Nominated adviser and broker)
Christopher Raggett and James Thompson
+44 (0) 20 7220 0500

Buchanan (Financial PR adviser)
Ben Romney / Chris Judd
+44 (0)20 7466 5000

ABOUT SACOIL

SacOil is a South African based independent African oil and gas
company, dual-listed on the JSE and AIM. The Company has a
diverse portfolio of assets spanning production in Egypt;
exploration and appraisal in the Democratic Republic of Congo,
Malawi and Botswana; and midstream projects including crude
trading in Nigeria and a terminal project in Equatorial
Guinea. Our focus as a Group is on delivering energy for the
African continent by using Africa's own resources to meet the
significant growth in demand expected over the next decade. The
Company continues to evaluate industry opportunities throughout
Africa as it seeks to establish itself as a leading, full-cycle
pan-African oil and gas company.

Date: 18/04/2017 11:00:00 Supplied by www.sharenet.co.za                     
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