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Sacoil Holdings Limited - Resignation Of Directors

Release Date: 28/08/2017 17:15:00      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?)


In compliance with section 3.59 of the Listings Requirements of the
Johannesburg Stock Exchange, shareholders are advised that Mr Vusumzi
Pikoli and Ms Titilola Akinleye have resigned as independent non-
executive directors of the Company with effect 28 September 2017.

Furthermore, Mr Tito Mboweni, the independent non-executive chairman of
the Company, who in terms of the Company?s MOI retires by rotation, has
not made himself available for re-election at the Company?s annual
general meeting scheduled to take place on Monday, 2 October 2017.

Dr Thabo Kgogo, CEO of SacOil said: ?I wish to extend a note of
gratitude to my departing colleagues. In particular I wish to publicly
thank Mr Mboweni who has shown great leadership and guidance to the
Board of SacOil over the past years, during which had been a period of
stabilisation and transformation. We wish them all well in their future

JSE Sponsor
PSG Capital Proprietary Limited

28 August 2017

For further information please contact:

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

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

SacOil is a South African based independent African oil and gas company,
listed on the JSE. The Company has a diverse portfolio of assets
spanning production in Egypt; exploration and appraisal in the
Democratic Republic of Congo, Malawi and Botswana; midstream project
relating to crude trading in Nigeria and a majority interest in Afric
Oil, the petroleum product wholesaler. 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: 28/08/2017 05:15:00 Supplied by www.sharenet.co.za                     
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