SACOIL HOLDINGS LIMITED - Result of Extraordinary General Meeting and Cancellation of the Company's Ordinary Shares to Trading on AIM

Result of Extraordinary General Meeting and Cancellation of the Company's Ordinary Shares to Trading on AIM

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")

Result of Extraordinary General Meeting and Cancellation of the
Company's Ordinary Shares to Trading on AIM

SacOil announces that at the Extraordinary General Meeting held
earlier today, the special resolution to approve the proposed
cancellation of the admission of the Company's Ordinary Shares to
trading on AIM ("Cancellation") was duly passed. The details of the
results are set out below:

                                                               Shares
                                                         abstained as
                                                 Votes   a percentage
                               Votes for       against         (%) of
                              resolution    resolution      shares in
                                   (%) *         (%) *          issue


Special Resolution:                 99.96        0.04            2.72
Cancelation of the
AIM listing

Total shares voted in person or by proxy amounted to 72% of
total issued share capital, being 2 341 387 667 voted shares.

As a result, the last day of dealings of the Company's Ordinary Shares
on AIM will be Tuesday 30 May 2017 and the Cancellation will become
effective at 7.00 a.m. on Wednesday 31 May 2017, subject to a dealing
notice, as defined in the AIM Rules for Companies, being issued.

All defined terms in this announcement, unless otherwise defined, will
have the same meaning as those defined in the Circular dated 24 April
2017.

22 May 2017

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.

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