SacOil Holdings Limited Appointment of Non-Executive Directors (5758C)

TIDMSAC

RNS Number : 5758C

SacOil Holdings Limited

18 April 2017

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")

APPOINTMENT OF NON-EXECUTIVE DIRECTORS

Further to the announcement of 22 March 2017, SacOil are pleased to announce that the Board has confirmed the appointments of Ms Thuto Masasa, Mr Patrick Mngconkola and Mr Boas Seruwe as Non-Executive Directors with immediate effect following the completion of satisfactory due diligence as required by the AIM Rules for Companies.

The following information is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Ms Thuto Margaret Masasa, aged 37, does not currently hold any ordinary shares in the Company.

 
Current directorships and/or  Former directorships 
 partnerships:                 and/or partnerships (within 
                               the last 5 years): 
Nkonki Incorporated           Stratvest Explorer 1 
 Nkonki Corporate Finance      Stratvest Explorer 2 
 Incorporated                  Stratvest Explorer 3 
 Nkonki Praxley Corporate      StratCorp 
 Finance Incorporated          StratCorp Property Holdings 
 Mpumalanga Economic Growth 
 Agency 
 Londvolota Trust 
 Beyond The Lemonade Stand 
 Wheelsonus 
 K2015052963 (SOUTH AFRICA) 
 Eliowell 
 Mathews College 
 

Mr Sebenzile Patrick Mngconkola, aged 54, does not currently hold any ordinary shares in the Company.

 
Current directorships and/or     Former directorships 
 partnerships:                    and/or partnerships (within 
                                  the last 5 years): 
Public Investments Corporation   Government Employees 
 (SOC) Limited                    Pension Fund of South 
 V And A Waterfront Holdings      Africa 
 Pty Ltd 
 Victoria And Alfred Waterfront 
 Holdings Pty Ltd 
 Growthpoint Properties Limited 
 Harith General Partners 
 (Pty) Ltd 
 Luminox Pty 
 

Mr Take Boas Seruwe, aged 51, does not currently hold any ordinary shares in the Company.

 
Current directorships and/or    Former directorships 
 partnerships:                   and/or partnerships (within 
                                 the last 5 years): 
Bakubung Business Supplies      Unemployment Insurance 
 (Pty) Ltd                       Fund 
 Bophelo Insurance Group 
 (Pty) Ltd 
 Nzalo Insurance Services 
 Limited 
 Daybreak Farms (Pty) Ltd 
 Bakubung Distribution (Pty) 
 Ltd 
 Phaphamani Advertising Agency 
 (Pty) Ltd 
 

Save as disclosed above there are no additional disclosures to be made in accordance with Rule 17 or Schedule Two paragraph (g) of the AIM rules regarding Ms Thuto Masasa, Mr Patrick Mngconkola and Mr Boas Seruwe.

JSE Sponsor

PSG Capital Proprietary Limited

For further information please contact:

SacOil Holdings Limited

Damain Matroos

[phone]

finnCap Limited (Nominated adviser and broker)

Christopher Raggett and James Thompson

[phone]

Buchanan (Financial PR adviser)

Ben Romney / Chris Judd

[phone]

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 18, 2017 05:05 ET (09:05 GMT)