Management Team Update (1264L)
July 27 2011 - 2:01AM
UK Regulatory
TIDMSAC
RNS Number : 1264L
SacOil Holdings Limited
27 July 2011
SACOIL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE share code: SCL
AIM share code: SAC
ISIN: ZAE0000127460
("SacOil" or "the Company")
Management team update
We refer to the announcement published on 27 June 2011, relating
to the appointment of Mr. Jan Maier as Chief Operating Officer.
Prior to taking up his post and the effective date of his
appointment, due to unforeseen personal reasons, the Company and
Jan have resolved that he will not take up the position. In the
circumstances, the Board of Directors of SacOil has resolved to
release Jan from his service agreement with the Company.
Mr. Bradley Cerff, the Company's Vice President, continues to
manage SacOil's operational matters and remains focussed on
bringing the Company's current assets to account.
The Board of SacOil has already engaged in discussions with
other experienced and qualified candidates from the Oil and Gas
Industry who have been identified as being suitable to fulfill the
role.
A further announcement in this regard will be made in due
course.
27 July 2011
For Further Information:
Sponsor
Standard Bank
Nominated Adviser and Joint Broker
finnCap Limited
Matthew Robinson/Ed Frisby
+44 (0) 20 7600 1658
Joint Broker
Shore Capital Stockbrokers Limited
Jerry Keen/Dru Danford
Tel: +44 (0) 20 7408 4090
Contacts
Tavistock (Public Relations UK)
Edward Portman / Jos Simson
Tel: +44 (0) 20 7920 3150
The Riverbed Agency (Public Relations SA)
Raphala Mogase/Bongiwe Moeli
Tel: +27 (0) 11 783 7903
Additional information on SacOilcan be found at
www.sacoilholdings.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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