SacOil Holdings Limited NED Appointments (8910C)
April 22 2013 - 6:00AM
UK Regulatory
TIDMSAC
RNS Number : 8910C
SacOil Holdings Limited
22 April 2013
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 Group")
Appointment of Independent Non-Executive Chairman and
Independent Non-Executive Director
SacOil, the African independent upstream oil and gas company, is
pleased to announce the appointment of Mr Tito Titus Mboweni as
independent non-executive chairman and Ambassador Mzuvukile Jeff
Maqetuka as independent non-executive director of SacOil with
effect from 1 June 2013.
Mr Mboweni is the immediate past Governor of the South African
Reserve Bank, a former Minister of Labour in the Republic of South
Africa in past President Nelson Mandela's cabinet and one of the
World Economic Forum's Global Leaders of Tomorrow.
Mr Mboweni is also the independent non-executive chairman of
AngloGold Ashanti Limited, the non-executive chairman of Nampak
Limited, and an international advisor to Goldman Sachs
International. Furthermore he is a Trustee and Chairman of the
Fundraising Committee of the Nelson Mandela Children's Hospital,
and a Trustee and a member of the Thabo Mbeki Foundation.
Ambassador Maqetuka has more than 17 years' experience in
Intelligence Services and International Relations. He has occupied
high ranking positions in the various Intelligence Services of the
Republic of South Africa, culminating in his appointment as the
Director General of the State Security Department with the with
over all responsibility to coordinate and supervise the work of
both internal and external intelligent agencies. He has also held
high ranking positions in International Relations-focused functions
of various departments of the Government of the Republic of South
Africa, resulting in his secondment as South Africa's Ambassador to
the People's Democratic Republic of Algeria. In the private sector
Ambassador Maqetuka serves as a non-executive director of the
Eastern Cape Development Corporation, and has served as an advisor
to Boards of several companies.
The appointments of Mr Mboweni and Ambassador Maqetuka are part
of SacOil's efforts to restructure its team, and bring on board
capabilities that will enable it to unlock the value in its
underlying assets, as well as to secure new oil and gas acreage
across the African continent.
Commenting, Robin Vela, CEO of SacOil, said:
"SacOil is humbled to have acceptances to join its board from
pre-eminent South Africans such as Mr Mboweni and Ambassador
Maqetuka. Their addition to the board will not only transform the
SacOil board but add heavy weight individuals with experience and
leadership roles in corporate South Africa but also in
international relations across the African continent".
Mr Mboweni remarked about his appointment to the board of
directors of SacOil: "I am delighted to join the board of SacOil.
It has always been my wish to be part of efforts that harness
Africa's resources. The oil and gas business is one avenue through
which Africa's resources can be restored to her people. I look
forward to working with my new colleagues in building SacOil into a
giant enterprise in the quest for Africa's development."
Further information required to be disclosed by the AIM Rules
will be provided prior to the effective date of appointment.
22 April 2013
ENDS
JSE Sponsor
Nedbank Capital
For further information please contact:
finnCap Limited (Nominated Adviser
and Broker) +44 (0) 20 7220 0500
Matthew Robinson / Christopher Raggett
FirstEnergy Capital (Joint Broker
UK)
Majid Shafiq/ Travis Inlow +44 (0) 20 7448 0200
GMP Securities Europe LLP (Joint Broker
UK)
James Pope/ Chris Beltgens +44 (0) 20 7647 2800
Keyter Rech Investor Solutions (Investor
Relations SA)
Vanessa Ingram/ Lynne van der Schyff
The Riverbed Agency (Press Relations +27 (0) 11 447 2993
SA)
Raphala Mogase +27 (0) 11 783 7903
Pelham Bell Pottinger (Press Relations
UK)
Philip Dennis +44 (0) 20 7861 3919
Rollo Crichton-Stuart +44 (0) 20 7861 3918
This information is provided by RNS
The company news service from the London Stock Exchange
END
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