8 May 2017 15:00
SacOil Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1993/000460/06)
JSE Share Code: SCL AIM TIDM: SAC
ISIN: ZAE000127460
("SacOil" or "the Company")
TRADING STATEMENT
In terms of the JSE Limited Listings Requirements, companies are required to provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that the financial results for the current reporting period will differ by at least 20% from the results of the previous corresponding reporting period.
SacOil is currently finalising its results for the year ended 28 February 2017. In this regard, shareholders are advised that the Company expects earnings per share ("EPS") and headline earnings per share ("HEPS") for the year ended 28 February 2017 to be at least 20% lower relative to the prior comparative period.
There is currently insufficient certainty to enable the Company to provide specific guidance on the extent of the expected reduction in both HEPS and EPS and it is anticipated that SacOil will publish a more detailed trading statement in due course.
The financial information on which this trading statement is based has not been reviewed or reported on by the Company's auditors.
8 May 2017
Contacts
SacOil Holdings Limited
Damain Matroos +27 (0)10 591 2260
JSE Sponsor
PSG Capital Proprietary Limited
Nominated Adviser and Broker
finnCap Ltd +44 (0)20 7220 0500
Christopher Raggett
James Thompson
Financial PR Adviser
Buchanan +44 (0)20 7466 5000
Ben Romney
Chris Judd
ABOUT SACOIL
SacOil is a South African based independent African oil and gas company, dual-listed on the JSE and AIM. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo, Malawi and Botswana; and midstream projects including crude trading in Nigeria and a terminal project in Equatorial Guinea. Our focus as a Group is on delivering energy for the African continent by using Africa's own resources to meet the significant growth in demand expected over the next decade. The Company continues to evaluate industry opportunities throughout Africa as it seeks to establish itself as a leading, full-cycle pan-African oil and gas company.