SCL - SacOil Holdings Limited - Update regarding the proposed unbundling of
SCL
SCL
SCL - SacOil Holdings Limited - Update regarding the proposed unbundling of
Pioneer Coal (Proprietary) Limited
SacOil Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1993/000460/06
Share code: SCL
ISIN code: ZAE000127460
("SacOil")
UPDATE REGARDING THE PROPOSED UNBUNDLING OF PIONEER COAL (PROPRIETARY) LIMITED
SacOil shareholders are referred to the detailed announcements relating to
the proposed unbundling of Pioneer Coal (Proprietary) Limited ("Pioneer Coal")
dated 15 December 2008 and 25 March 2009 and are advised that the unbundling
will not proceed on the basis as detailed in these announcements. However,
Pioneer Coal is currently seeking coal exploration assets and once it makes
a suitable acquisition, it is intended that such shares will be distributed
to SacOil`s shareholders by way of an unbundling.
Midrand
18 November 2010
Sponsor
BDO Corporate Finance
Date: 18/11/2010 09:40:21 Produced by the JSE SENS Department.
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