SACOIL HOLDINGS LIMITED - Results of General Meeting and Appointment of Directors

Results of General Meeting and Appointment of Directors

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”)

     RESULTS OF GENERAL MEETING AND APPOINTMENT OF DIRECTORS

SacOil Shareholders are referred to the notice of general meeting attached to the circular
posted to Shareholders on 7 November 2013 (the “Circular”) containing details of the
conversion of the Gairloch debt to equity and the capital raising of up to R570 million by way
of a renounceable rights offer.

Capitalised terms in this announcement shall have the same meaning given to them in the
Circular, unless the context indicates otherwise.

1.     Results of the General Meeting

Shareholders are advised that, at the General Meeting held today, all the ordinary and special
resolutions tabled were approved by the requisite majority of votes required from
Shareholders present in person or represented by proxy.

The special resolution passed at the General Meeting will be filed with, and registered where
required, by the Companies and Intellectual Property Commission.

2.     Appointment of Directors

At the General Meeting, Mr Danladi Verheijen and Ms Lola Akinleye were appointed as non-
executive Directors of the Company with effect from the Completion Date (as defined in
Annexure 5 of the Circular), which is expected to be on or about Monday, 27 January 2014.

The following further information in relation to the appointments of Mr Verheijen and Ms
Akinleye is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies:


Full name:                          Mr Danladi Michael Verheijen

Age:                                37

Experience and principal            Danladi is the managing director of Verod Capital
activities:                         Management Limited (“Verod”), a West African focused
                                    investment firm, which he co-founded in 2008. Verod
                                    invests in high growth, medium-sized companies across
                                    several     sectors,   including     consumer     products,
                                    manufacturing, technology/media and real estate. He
                                    previously was a Vice President at Citibank Nigeria
                                    where he led corporate finance and investment banking
                                    transactions. He also had responsibility over Citibank’s
                                    equity investment portfolio and represented the bank on
                                    the investment and advisory committee of Nigeria’s
                                    largest private equity firm. Prior to that, he held roles at
                                    Ocean and Oil Holdings and at McKinsey & Company.
Current directorships and            Verod
partnerships:
                                     Harvard Business School Association of Nigeria

                                     Christian Care for Widows and the Aged

Directorships and partnerships       Royal Exchange Finance and Investment Limited
held in the last five years:
                                     Energy Equity Resources (Norway) Limited




Full name:                           Titilola Abisoye Akinleye

Age:                                 41

Experience and principal             Lola has over 15 years’ finance and investment banking
activities:                          experience with significant experience in corporate
                                     finance advisory, equity and debt capital raising,
                                     structured project finance and with public and private
                                     partnerships for development of infrastructure. She
                                     began her career at General Electric London and has
                                     held roles at JP Morgan, ARM Investment Managers and
                                     Zenith Capital.

Current directorships and            SMARTT Futures Resources Limited
partnerships:
                                     VIDA Fashions Limited

                                     Tatin True Concepts Limited

                                     SNL Internautical Limited

Directorships and partnerships       None
held in the last five years:



Johannesburg
6 December 2013

JSE Sponsor
Nedbank Capital

For further information please contact:

SacOil Holdings Limited
Roger Rees / Tariro Mudzimuirema                                    +27 (0)11 575 7232

Nedbank Capital, a division of Nedbank Limited                      +27 (0) 11 294 3524
(Investment Bank, Corporate Advisor and Sponsor)
Michelle Benade

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

Pelham Bell Pottinger (UK)
Philip Dennis                            +44 (0) 20 7861 3919
Nick Lambert                             +44 (0) 20 7861 3936
Rollo Crichton-Stuart                    +44 (0) 20 7861 3918

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