SacOil Holdings Limited Appointment of Executive Director (7572O)

TIDMSAC

RNS Number : 7572O

SacOil Holdings Limited

11 August 2014

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 Executive Director

SacOil is pleased to announce the formal appointment of Mr Bradley Robert Cerff as an Executive Director of the Company with immediate effect.

Bradley joined SacOil in 2011 as Vice President of Operations, following 18 years of exploration and production experience working primarily with PetroSA in Africa. He has managed technical and commercial teams and upstream assets in most African oil-exploration and producing countries.

During the last three years, he has been responsible for the management and execution of work programs relating to SacOil's upstream assets and for the optimisation of the Company's overall portfolio and subsidiaries. He is also responsible for the Company's reserves and resource management and will continue to manage SacOil's upstream asset portfolio. With his technical and commercial experience, Bradley has contributed to the growth of the Company's upstream portfolio on the African continent.

Bradley holds an MSc degree and an MBA. He is a member of the Society of Petroleum Engineers.

Commenting on the appointment, Tito Mboweni, Chairman said "Bradley has been closely involved with the operations of the Company and in dealing with our key partner relationships. He has 18 years' experience in the industry and we look forward to his contribution to the board in his new role".

The following information in relation to Mr. Cerff's appointment is disclosed in accordance with Schedule Two(g) of the AIM Rules for Companies.

Mr Bradley Robert Cerff (aged 41) has been a director or partner of the following companies/partnerships during the five years preceding the date of this announcement:

 
 Current Directorships                 Previous Directorships 
------------------------------------  ----------------------------------- 
 Themix Investments and Developments   Ibiza Chauffeurs 
  Ocean Surprise                        Petroleum Oil And Gas Corporation 
  Sustainable Innovations and Energy    of South Africa (Namibia) 
  Development                           PetroSA Equatorial Guinea (South 
                                        Africa) 
                                        PetroSA Gryphon Marin Permit 
                                        PetroSA Iris 
                                        PetroSA Themis 
------------------------------------  -----------------------------------

Bradley currently holds 110 000 shares in the capital of SacOil.

There is no further information to be disclosed pursuant to Schedule Two(g) of the AIM Rules for Companies.

Johannesburg

11 August 2014

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 
 
 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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