Business
Director Dealings & Exercise of Options
Director Dealings & Exercise of Options.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n \n9 November 2010\n\n Pan African Resources PLC \n\n (`Pan African' or the `Company') \n\nIncorporated and registered in England and Wales under Companies Act 1985 with \n\n registered number 3937466 on 25 February 2000 \n\n AIM: PAF/JSE: PAN \n\n ISIN: GB0004300496 \n\n Directors' Dealings \n\nPan African announces that the following issues of ordinary Pan African shares\nof 1p each (\"Shares\") were made on 4 November 2010, following the exercise of\nshare options:\n\n * 4,000,000 Shares were issued to Mr R G Still, a non-executive director of\n the Company, at a price of 4p per Share, for a total consideration of\n GBP160,000 under clearance given by a special resolution of the board of\n directors of Pan African; and\n \n * 7,500,000 Shares were issued to Pangea Exploration (Proprietary) Limited\n (\"Pangea\") at a price of 4p per Share, for a total consideration of\n GBP300,000.\n \nIn addition Pan African has received written notification of exercise from Ms J\nYates in respect of an option to exercise 3,000,000 Shares in the capital of\nthe Company granted to her on 27 July 2006, at the option price of 5.5p per\nShare, for a total consideration of GBP165,000. It is anticipated that the\n3,000,000 Shares will be issued to Ms Yates, an immediate family member of Mr\nStill, on 10 November 2010.\n\nApplication will be made on 11 November 2010, to the AIM market of the London\nStock Exchange (\"AIM\") and to the Main Board of JSE Limited (\"JSE\") for\n14,500,000 shares to be admitted to trading on AIM and for listing on the JSE,\nwith Admission to trading and listing on both markets expected to occur on 17\nNovember 2010.\n\nFollowing the above issues of shares, the total issued share capital of the\nCompany comprises 1,434,040,711 Shares.\n\nMr Still holds 4,000,000 ordinary shares in the Company, representing 0.28% of\nthe issued capital and has an indirect, non-beneficial interest in Ms Yates'\nholding of 3,000,000 Shares in the Company, representing 0.21% of the issued\ncapital of the Company. In addition, as a director of Pangea and a trustee of a\nfamily trust which owns 33.33% of Pangea, Mr Still is deemed to have an\nindirect, non-beneficial interest in Pangea's total holding of 45,126,605\nShares in the Company, representing 3.15% of the issued capital of the Company.\n\nOn 8 November 2010, Mr J Nelson, the Compan...