SacOil Holdings Limited Appointment of Directors (1601K)
July 25 2013 - 9:00AM
UK Regulatory
TIDMSAC
RNS Number : 1601K
SacOil Holdings Limited
25 July 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 Roger
Rees as interim chief executive officer and Mrs Tariro Mudzimuirema
as interim financial director of the Company with immediate
effect.
Mr Roger Rees is a Chartered Accountant by qualification. He
spent his early career with Arthur Andersen, initially in London
and then Johannesburg. He has extensive public company experience.
He previously served as a director and deputy Chairman of Clough
Limited, an ASX listed oil and gas engineering company. He also has
significant international experience in acquisitions and disposals,
due diligence and corporate finance.
Mrs Tariro Mudzimuirema is a Chartered Accountant with more than
11 years' experience in finance, risk management, corporate
governance and audit. After completing her degree at Rhodes
University, Tariro joined PwC, where she worked in the
Johannesburg, Zimbabwe, Baltimore, London and Malawi offices,
responsible for assurance engagements for listed and unlisted
entities in the construction, mining and manufacturing industries.
Upon leaving PwC in June 2010, Tariro held various senior
management roles responsible for compliance, financial management
and business development at Indyebo Consulting and as an
Independent Finance Consultant. Tariro is a member of The South
African Institute of Chartered Accountants and an associate of the
London Institute of Risk Management.
As from 17 September 2012, Mrs Mudzimuirema was appointed as
Finance Manager at SacOil.
Mr Tito Mboweni, the Chairman of the Board of SacOil, commented
as follows on the
appointments:
"I am delighted that this lady and gentleman have agreed to join
the board of SacOil Holdings Limited for an interim period. I look
forward to working with them in growing this business into a giant
pan-African enterprise"
The company's shares will remain suspended on the JSE and AIM
pending further announcements in this regard.
The following further information in relation to the
appointments of Mr Rees and Mrs Mudzimuirema is disclosed in
accordance with Schedule 2(g) of the AIM Rules for Companies:
Full name: Roger William Rees
Age: 60
Current directorships and partnerships: Directorships and partnerships
held in the last 5 years:
---------------------------------------- ----------------------------------
Rex Trueform Limited Murray & Roberts Holdings Limited
---------------------------------------- ----------------------------------
Redefine Properties Limited Clough Limited
---------------------------------------- ----------------------------------
African and Overseas Enterprises
Ltd
---------------------------------------- ----------------------------------
Ikwezi Mining Limited
---------------------------------------- ----------------------------------
Rex Trueform Clothing Company
Ltd
---------------------------------------- ----------------------------------
Mr Rees does not currently hold any shares in the capital of
SacOil.
Full name: Tariro Rudo Mudzimuirema
Age: 35
Current directorships and partnerships: Directorships and partnerships
held in the last 5 years:
---------------------------------------- -------------------------------
None None
---------------------------------------- -------------------------------
Mrs Mudzimuirema does not currently hold any shares in the
capital of SacOil.
25 July 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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