SacOil Holdings Limited JSE Cautionary Announcement (1548A)

TIDMSAC

RNS Number : 1548A

SacOil Holdings Limited

18 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")

JSE CAUTIONARY ANNOUNCEMENT

In terms of paragraph 3.9 of the JSE Listings Requirements, immediately after an issuer acquires knowledge of any material price sensitive information and the necessary degree of confidentiality of such information cannot be maintained, an issuer must publish a cautionary announcement.

As such, shareholders are advised that, in line with SacOil's strategy to focus on proven resources as a base for growth, the Company has embarked on a process of balancing and rationalising its portfolio of assets. The objective of the rationalisation is to restructure the company's capital needs and focus on cash generative assets. If successful the portfolio rationalisation may have a material effect on the price of the Company's securities. In particular, SacOil is considering the cancellation of an agreement to participate in an appraisal asset in Nigeria. As yet, no transaction has been formalized and there can be no guarantee as to the terms or conditions attached to any cancellation of this asset. Further updates will be made in due course.

Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities until a full announcement is made.

JSE Sponsor

PSG Capital Proprietary Limited

18 December 2014

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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