Business
Barberton Update
Barberton Update.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n Pan African Resources PLC\n26 June 2007\n\n\n26 June 2007\n\n\n Pan African Resources plc\n\n ('Pan African' or 'the Company')\n\n\n Update on Barberton Transaction\n\n\nPan African Resources plc (AIM: PAF), the African based exploration company,\nannounces that it has obtained South African Reserve Bank ('SARB') approval for\nthe proposed Barberton acquisition.\n\n\nHighlights:\n\n\n •SARB approval a major step forward in completing the Barberton\n Acquisition\n\n •Documentation for shareholder approval to be issued during the first half\n of July\n\n\nThe Company is pleased to announce that South African Reserve Bank approval has\nbeen obtained for the proposed acquisition of Barberton Mines Limited, announced\non 20 December 2006. All material conditions to the successful completion of the\nBarberton transaction have now been fulfilled except for Johannesburg Stock\nExchange ('JSE') and Shareholder approvals. The Company is expected to submit\ndocumentation for final JSE approval in the next week. Once approval is received\nfrom the JSE the Company will post documentation which will fully describe the\ntransaction to shareholders, with a notice convening an extraordinary general\nmeeting. The Company expects to post this documentation during the first half of\nJuly and it is expected that trading in the Company's shares on AIM will\nre-commence with the issue of the documentation.\n\n\nJan Nelson, CEO of Pan African, said: 'We are delighted with the announcement\nfrom SARB. We are now looking forward to our re-admission onto AIM and\nsubsequent secondary listing onto AltX. This is the springboard of almost a\nyear's work and will significantly enhance shareholder value in the Company as\nwell as strategically position Pan African for further growth opportunities.'\n\n\n\n ENDS\n\nEnquiries\n\nPan African Resources Ambrian Partners\n\nJan Nelson / CEO Richard Brown / NOMAD\n\n+27 (0) 82 4945628 +44 (0) 207 776 6400\n\n\nColin Bird / Chairman\n\n+ 44 (0) 207 584 2144\n\n\nParkgreen Communications - United Kingdom\n\nJustine Howarth/Clare Irvine\n\n+44 (0) 207 851 7480\n\n\nFD Beachhead - South Africa\n\nJennifer Cohen/Louise Brugman\n\n+27 (0) 82 468 6469 / + 27 (0) 83 504 1186\n\n\n\n\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2568,"tagNa...