GEN - SacOil Holdings Limited - Censure imposed by the JSE on SacOil Holdings

GEN - SacOil Holdings Limited - Censure imposed by the JSE on SacOil Holdings   
Limited                                                                         
The JSE Limited ("JSE") wishes to advise the following concerning certain       
findings by the JSE in respect of SacOil Holdings Limited ("SacOil" or "the     
Company"):                                                                      
1.   On 25 October 2011 SacOil released a trading statement indicating that the 
    headline earnings per share ("HEPS") for the six months ended 31 August     
2011, would be negatively impacted by at least 330% to 350% compared to the 
    equivalent period in the previous year.                                     
2.   On 10 November 2011 a second trading statement, in respect of the same six 
    month period, was announced indicating that the HEPS would be positively    
impacted by at least 640% to 660% compared to the equivalent period in the  
    previous year.                                                              
3.   With regard to the first announcement in relation to the trading statement,
    the JSE has found SacOil to be in breach of the general principle (v) of    
the Listings Requirements ("LR"), which principle requires that all parties 
    involved in the dissemination of information into the market place, whether 
    directly to holders of relevant securities or to the public, observe the    
    highest standards of care in doing so.                                      
4.   The JSE has decided to impose this public censure on SacOil in relation to 
    the abovementioned breach of the LR.                                        
22 May 2012                                                                     
Date: 23/05/2012 08:00:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.