As was previously announced, the Company has agreed to appoint Mr Tito Titus Mboweni as its new independent non-executive Chairman, and Mr Mzuvukile Jeff Maqetuka as an independent non-executive director. The Company's advisors are in the process of finalising various administrative and regulatory compliance requirements in this regard, after which the new directors will be formally appointed and able to assume office with full capacity as directors.

Further, the Company is pleased to announce the proposed appointment of Mr Stephanus Hilgard Muller as Director in the capacity of independent non-executive director. His appointment will be finalised once the Company's advisors have concluded the standard regulatory compliance reviews in this regard.

Tags: SacOil