SacOil Holdings Limited Changes to the Board of Directors (5203Z)

TIDMSAC

RNS Number : 5203Z

SacOil Holdings Limited

11 December 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")

CHANGES TO THE BOARD OF DIRECTORS

SacOil, the African independent upstream Oil & Gas Company, is pleased to announce the appointment of Mr Damain Matroos as the Chief Financial Officer of SacOil with effect from 1 February 2015. Mrs Tariro Mudzimuirema, currently Acting Finance Director, will step down from her position on the same date. Tariro will return to the position of Financial Manager on the same date.

Damain holds a BCom (Accounting) degree and Post Graduate Diploma in Accounting (PGDA) from the University of Cape Town and is a qualified Chartered Accountant. Mr Matroos has over 15 years' experience in corporate finance both in the United Kingdom and more recently in South Africa.

He will join SacOil from Sasol, where he currently holds the position of Vice President - Corporate Finance responsible for mergers & acquisitions and specialized funding for the Sasol Group. He spent 6 years at Sasol, where he also held a position of General Manager, Group Corporate Finance. He has played a significant corporate finance role on a number of Sasol's major capital projects, including its mining and upstream activities. He was also the overall lead for the successful restructuring of the Sasol Group's global legal structure.

Prior to working at Sasol, he worked in the United Kingdom in various senior management roles responsible for corporate finance and strategy.

Commenting on the appointment, Dr Kgogo, Chief Executive Officer said "Damain's appointment is a valuable addition to the executive team and joins SacOil at an exciting time as we build a leading Pan African Oil and Gas Company. On behalf of the board, I would like to thank Tariro for the dedication, hard work and professionalism during the interim period"

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Full Name: Mr Marius Damain Matroos

Aged: 43

 
 Current Directorships        Directorships and partnerships held 
                               in the last 5 years: 
 K2014047923 (South Africa)   None 
  Pty) Ltd

Mr Matroos does not currently hold any shares in the capital of SacOil.

Johannesburg

11 December 2014

JSE Sponsor

PSG Capital

For further information please contact:

 
 SacOil Holdings Limited 
  Dr Thabo Kgogo                                  +27 (0)11 575 7232 
 
 finnCap Limited (Nominated Adviser and 
  Broker) 
  Matthew Robinson / Christopher Raggett          +44 (0)20 7220 0500 
 
 FirstEnergy Capital (Financial Adviser 
  and Joint Broker UK) Travis Inlow               +44 (0)20 7448 0200 
 
 Instinctif Partners London (UK Investor 
  Relations) 
  David Simonson / Anca Spiridon                  +44 (0)20 7457 2020 
 
 Instinctif Partners Johannesburg (SA Investor 
  Relations) 
  Nicholas Williams / Fred Cornet                 +27 (0)11 447 3030

This information is provided by RNS

The company news service from the London Stock Exchange

END

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