EFORA ENERGY LIMITED - Results of the Annual General Meeting

Results of the Annual General Meeting

EFORA ENERGY LIMITED
(Formerly SacOil Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
ISIN: ZAE000248258
(“Efora” or “the Company”)

RESULTS OF THE ANNUAL GENERAL MEETING

Shareholders are hereby advised that at the annual general meeting (“AGM”) of the Company
held at 11h00, on Tuesday, 25 September 2018 at 1st Floor, 12 Culross Road, Bryanston
(“AGM”), all of the resolutions were passed by the requisite majorities of the Company’s
shareholders.

Details of the results of the voting at the AGM are as follows:

Shareholders are further advised that ordinary resolutions number 6 and 7 were modified to
limit the number of shares placed under the authority of the directors and those that can be
issued for cash to 5%, respectively.

                                                                                              Number of
                                                                                Number of        shares
                             Votes for     Votes against                            shares    abstained
                       resolution as a    resolution as a                          voted at         as a
                        percentage of      percentage of                         AGM as a     percentag
Resolutions           total number of    total number of                       percentage           e of
proposed at the          shares voted       shares voted    Number of shares   of shares in    shares in
AGM                            at AGM             at AGM       voted at AGM          issue        issue

Ordinary resolution
number 1:
Reappointment of              99.996%             0.004%       1 000 765 577       90.66%         0.01%
external auditors

Ordinary resolution
number 2:
Confirmation of               99.995%             0.005%       1 000 760 577       90.66%         0.01%
appointment of
Ignatius Sehoole

Ordinary resolution
number 3:
Confirmation of               99.995%             0.005%       1 000 760 577       90.66%         0.01%
appointment of
Thuto Masasa

Ordinary resolution
number 4.1: Re-
election of
Audit and Risk                99.995%             0.005%       1 000 760 577       90.66%         0.01%
Committee
Members - Mr
Ignatius Sehoole

Ordinary resolution
number 4.2: Re-
election of
Audit and Risk                99.995%             0.005%       1 000 760 577       90.66%         0.01%
Committee
Members - Ms
Thuto Masasa

Ordinary resolution
number 4.3: Re-
election of
Audit and Risk                99.995%             0.005%       1 000 760 577       90.66%         0.01%
Committee
Members - Mr
Patrick Mngconkola

Ordinary resolution
number 5.1:
Endorsement of                 99.55%              0.45%       1 000 734 478       90.66%        0.01%
remuneration policy

Ordinary resolution
number 5.2:
Endorsement of
remuneration                  99.995%             0.005%       1 000 760 577       90.66%        0.01%
implementation
report

Ordinary resolution
number 6: General
authority to issue             99.55%              0.45%       1 000 765 577       90.66%        0.01%
shares

Ordinary resolution
number 7: General
authority to issue
shares for cash                99.99%              0.01%       1 000 765 077       90.66%        0.01%

Ordinary resolution
number 8: Authority
to sign all required          99.995%             0.005%       1 000 764 478       90.66%        0.01%
documents

Special resolution
number 1: General
authority to acquire
(repurchase)                   99.55%             0.45%        1 000 765 577      90.66%         0.01%
shares

Special resolution
number 2:
Remuneration of                99.99%             0.01%        1 000 764 478      90.66%         0.01%
Non-executive
Directors

Special resolution
number 3:
Financial
assistance for                 99.99%             0.01%        1 000 760 577      90.66%        0.01%
acquisition of
shares in a related
or inter- related
company

Special resolution
number 4:
Intercompany                   99.99%            0.01%          1 000 760 577     90.66%        0.01%
financial assistance

Note
Total number of shares in issue as at the date of the AGM was 1 103 834 635.

Johannesburg
26 September 2018

Sponsor
PSG Capital

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