Business
Pan African raises GBP 1.7m
Pan African raises GBP 1.7m.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n Pan African Resources PLC\n05 April 2006\n\n\n5th April 2006\n\n Pan African Resources plc\n ('Pan African' or 'the Company')\n\n Pan African Resources raises £1.7m\n\n\nPan African Resources PLC (AIM: PAF) the African based gold exploration company\nannounces that it has raised £1,700,137 by way of two private placings for a\ntotal of 40,003,235 new ordinary shares at a price of 4.25p per share.\n\nThe capital raised will primarily be utilised to forward the Company's\nexploration activities in Mozambique and the Central African Republic 'CAR'.\n\nIn addition, the company has issued 6,000,000 new ordinary shares for £255,000\n(equivalent to 4.25p per share) to Pangea Exploration (Pty) Limited by\ncapitalisation of the liability to Pangea for conceding its rights in the CAR\nJoint Venture. These shares are subject to a lock-in period of 1 year.\n\nThe total shares issued represent 11.3% of the enlarged share capital of\n407,753,235 shares.\n\nIt is anticipated that all of the new shares will be admitted to trade on 7\nApril 2005.\n\n\nEnds\n\n\nPan African Resources Ambrian Partners Parkgreen Communications\nJan Nelson, CEO Richard Brown Justine Howarth /\n+27 11 886 1211 +44 (0) 20 7776 6400 Victoria Thomas\nNathan Steinberg, FD +44 (0) 20 7493 3713\n+44 (0) 20 7845 7500\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1803,"tagName":"div"}]