Business
Listing of Manica as a Separate Entity
Listing of Manica as a Separate Entity.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n \n19 August 2011\n\n Pan African Resources PLC \n\n (`Pan African' or the `Company' or the `Group') \n\nIncorporated and registered in England and Wales under Companies Act 1985 with \n the registered number: 3937466 on 25 February 2000 \n\n Share Code on AIM: PAF \n\n Share code on JSE: PAN \n\n ISIN: GB0004300496 \n\n Listing of Manica as a Separate Entity to Unlock Optimal Shareholder Value \n\nOn 22 June 2011, Pan African announced that it was exploring optimal ways to\nbring its Manica gold project located in Mozambique (\"Manica Project\") to\naccount. The Company advises that a process to list its Manica Project as a\nseparate entity on an appropriate international exchange (\"Separate Listing\"),\nhas now commenced.\n\nPan African believes that the Separate Listing will allow it to focus its\ncapital and human resources on pursuing organic growth opportunities around the\nCompany's mining operations in South Africa. At the same time, a separate\nmanagement team, which has been appointed by the Company, will have the\nfinancial flexibility and focus to grow the Manica Project. Pan African intends\nto retain an equity stake in the new listed entity.\n\nThe Company made a presentation in respect of the Separate Listing to the\nMozambican Minister of Mines in Maputo yesterday, 18 August 2011, which\npresentation is available for download from the Company's website hosted at\nwww.panafricanresources.com\n\nPan African believes that the Separate Listing will unlock optimal value for\nits shareholders, and it will advise of progress made in respect of this\nprocess in due course.\n\nEnquiries:\n\nSouth Africa UK \n \nPan African RBC Capital Markets \n \nJan Nelson, Chief Executive Officer Martin Eales \n \n+27 (0) 11 243 2900 +44 (0) 20 7029 7881 \n \nPan African St James's Corporate Services Limited \n \nNicole Spruijt, Public Relations Phil Dexter \n \n+27 (0) 11 243 2900 +44 (0) 20 7499 3916 \n \nMacquarie First South Capital (Pty) Gable Communications \nLtd \n Justine James \nAnnerie Britz/ Melanie de Nysschen/ \nYvette Labuschagne +44 (0)20 7193 7463 \n \n+27 (0) 11 583 2000 \n\nENDS\n ","length":3521,"tagName":"div"}]