SacOil Holdings Limited Appointment of Directors (6199G)
June 10 2013 - 2:30AM
UK Regulatory
TIDMSAC
RNS Number : 6199G
SacOil Holdings Limited
10 June 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 Company")
Appointment of Directors
SacOil is pleased to announce the formal appointment of Mr Tito
Titus Mboweni as its new independent non-executive Chairman, and
Ambassador Mzuvukile Jeff Maqetuka and Mr Stephanus (Steve) Hilgard
Muller as independent non-executive directors of the Company, with
effect from 10 June 2013.
As previously announced, Mr Mboweni is the immediate past
Governor of the South African Reserve Bank, the current Chairman of
AngloGold Ashanti Limited, the current non-executive Chairman of
Nampak Limited, and an international advisor to Goldman Sachs
International.
Ambassador Maqetuka has extensive pan-African experience having
served as South Africa's Ambassador to the People's Democratic
Republic of Algeria and as Director General of the State Security
Agency department of the Republic of South Africa.
Mr Muller has extensive experience in the audit and investment
banking disciplines, having qualified as a charted accountant in
1985, and served as an executive director of Gensec Bank Limited.
Currently he sits on the audit and risk committee of Amalgamated
Appliance Holdings Limited and KAP Industrial Holdings Limited as
an independent non-executive director.
Commenting on the new appointments, Mr Moseneke said:
"We are delighted to welcome such a distinguished and
experienced group of individuals to the Board of SacOil. With these
appointments the Company is now able to consider the appointment of
an interim CEO and to accelerate the efforts to have lifted the
suspension in trading of its shares on both AIM and the JSE. The
lifting of the suspensions will require, amongst others, bringing
clarity to the financial position of the Company, and the Board
approving and publishing the financial results for the financial
year ended 28 February 2013 in accordance with JSE Rules. These
appointments will enable the Board to, amongst others, constitute
an audit committee and be able to progress to conclusion the
preparation of the financial results."
The following further information in relation to the
appointments of Messrs Mboweni, Maqetuka and Muller is disclosed in
accordance with Schedule 2(g) of the AIM Rules for Companies:
Full name: Tito Titus Mboweni
Age: 54
Current directorships and partnerships: Directorships and partnerships
held in the last 5 years:
---------------------------------------- -------------------------------
Anglogold Ashanti Limited
---------------------------------------- -------------------------------
Nampak Limited
---------------------------------------- -------------------------------
Mr Mboweni does not currently hold any shares in the capital of
SacOil.
Full name: Mzuvukile Jeff Maqetuka
Age: 61
Current directorships and partnerships: Directorships and partnerships
held in the last 5 years:
---------------------------------------- -------------------------------
Ikhala Lemvelo Trading Proprietary
Limited
---------------------------------------- -------------------------------
Living Aloe Proprietary Limited
---------------------------------------- -------------------------------
Eastern Cape Development Corporation
---------------------------------------- -------------------------------
Karoo Mining Development Proprietary
Limited
---------------------------------------- -------------------------------
Ambassador Maqetuka does not currently hold any shares in the
capital of SacOil.
Full name: Stephanus Hilgard Muller
Age: 52
Current directorships and partnerships: Directorships and partnerships
held in the last 5 years:
---------------------------------------- -------------------------------
Amalgamated Appliance Holdings
Limited
---------------------------------------- -------------------------------
KAP Industrial Holdings Limited
---------------------------------------- -------------------------------
Mr Muller has a short position of 821,997 shares in the capital
of SacOil. This position arose as a result of an administrative
error in a transaction that Mr Muller previously undertook in
SacOil shares, which position he could not close as a result of the
suspension in trading of the Company's shares.
10 June 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)
Rob Collins
James Pope +44 (0) 20 7647 2800
Keyter Rech Investor Solutions (SA)
Vanessa Ingram
Lynne Bothma +27 (0) 11 447 2993
Pelham Bell Pottinger (UK)
Philip Dennis +44 (0) 20 7861 3919
Nick Lambert +44 (0) 20 7861 3936
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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