Last checked at 12 Nov 2010 14:30
12 November 2010 Pan African Resources PLC (`Pan African' or the `Company')
Incorporated and registered in England and Wales under Companies Act 1985 with
registered number 3937466 on 25 February 2000 AIM: PAF/JSE: PAN ISIN: GB0004300496
HOLDING IN COMPANY & DIRECTORS' DEALINGS
The Company was notified on 10 November 2010 and 11 November 2010 that Pangea Exploration (Pty) Limited ("Pangea") had sold a total of 1,250,000 ordinary shares of 1 pence each in the Company ("Shares") at an average price of ZAR1.25 per Share for a total consideration of ZAR1,563,050. Pangea's remaining holding in Pan African after the sale is 43,876,605 Shares, representing 3.07% of the issued share capital of the Company.
Mr Robert Still, a non-executive director of the Company, is also a director of Pangea and a trustee of a family trust which owns 33.33% of Pangea. Mr Still is therefore deemed to have an indirect, non-beneficial interest in Pangea's holding in the Company.
The Company was informed on 12 November 2010 that Mr Cobus Loots, the Company's Financial Director, sold 65,000 Shares on 11 November 2010, on market at a price of ZAR1.22 per Share for a total consideration of ZAR79,300. The sale was made under clearance given by the Chairman of the Company.
Following the sale Mr Loots has an interest in 65,000 Shares, representing 0.005% of the issued share capital of the Company.
EnquiriesSouth Africa UK Pan African RBC Capital Markets
Jan Nelson, Chief Executive Officer Martin Eales / Brett Jacobs
+27 (0) 11 243 2900 +44 (0) 20 7653 4000
Macquarie First South Advisers (Pty) Ltd St James's Corporate Services
Limited Melanie de Nysschen / Yvette Labuschagne / Annerie Britz Phil Dexter +27 (0) 11 583 2000 +44 (0) 20 7499 3916 Vestor Media & Investor Relations Hansard Communications Louise Brugman Justine James +27 (0) 11 787 3015 +44 (0) 20 7245 1100 / +44 (0) 7525 324431
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