12 Sep 2014 13:00
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")
Results of annual general meeting
Shareholders are referred to the notice of annual general meeting ("AGM") attached to the integrated annual report for the year ended 28 February 2014, posted to shareholders on 19 June 2014.
Shareholders are advised that at the AGM held today, the following ordinary and special resolutions contained in the notice of AGM, were passed by the requisite majority of shareholders present or represented by proxy:
1. Ordinary resolution number 1 relating to the adoption of the annual financial statements for the year ended 28 February 2014 with a 100% majority;
2. Ordinary resolution number 2 relating to the confirmation of the appointment of Bradley Cerff as a director with a 100% majority;
3. Ordinary resolution number 3 relating to the reappointment of the external auditor with a 100% majority;
4. Ordinary resolutions number 4.1 to 4.3 relating to the re-election of directors who retire by rotation:
· Tito Mboweni with a 96.48% majority;
· Mzuvukile Maqetuka with a 96.48% majority; and
· Stephanus Muller with a 100% majority;
5. Ordinary resolutions number 5.1 to 5.3 relating to the election of Audit Committee members:
· Stephanus Muller (Chairman) with a 100% majority;
· Vusumzi Pikoli with a 100% majority; and
· Mzuvukile Maqetuka with a 96.48% majority;
6. Ordinary resolution number 6 relating to the endorsement of SacOil's remuneration policy with a 97.86% majority;
7. Ordinary resolution number 7 relating to the general authority to directors to allot and issue authorised but unissued ordinary shares with a 100% majority;
8. Ordinary resolution number 8 relating to the general authority to issue shares for cash with a 97.87% majority;
9. Ordinary resolution number 9 relating to the authority to sign all required documentation with a 100% majority;
10. Ordinary resolution number 10 relating to the amendments to the SacOil Share Option Scheme with a 97.87% majority;
11. Special resolution number 1 relating to the general authority to acquire (repurchase) shares with a 97.87% majority;
12. Special resolution number 2 relating to the remuneration of non-executive directors with a 100% majority; and
13. Special resolution number 3 relating to the financial assistance in terms of sections 44 and 45 of the Companies Act with a 100% majority.
All of the special resolutions passed at the AGM will be filed with, and registered where required, with the Companies and Intellectual Property Commission.
12 September 2014
ENDS
JSE Sponsor
Nedbank Capital
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