Business
Re-Admission to Trading
Re-Admission to Trading.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n Pan African Resources PLC\n31 July 2007\n\n\n31 July 2007 AIM:PAF\n\n\n Pan African Resources PLC ('Pan African' or the 'Company')\n\n\n Pan African Commences Trading on AltX\n Re-admission to Trading on AIM\n\n\nThe directors of Pan African announce that subsequent to the announcement of 4\nJuly 2007 and following the acquisition of Barberton Mines Limited\n('Barberton'), the Company's ordinary shares ('Shares') today began trading on\nAltx, the junior market of the Johannesburg Stock Exchange.\n\nThe Company's Shares have also today been officially re-admitted to trading on\nAIM. Following shareholder approval for the acquisition of Barberton, which\nconstituted a reverse takeover under the AIM Rules for Companies ('AIM Rules'),\ntrading in the Company's Shares on AIM was initially cancelled as required by\nthe AIM Rules. The entire issued share capital, as enlarged by the issue of\nShares to Metorex Limited and Pangea Exploration (Proprietary) Limited under the\nterms of the Barberton acquisition, was then immediately re-admitted to trading\non AIM.\n\nJan Nelson, Chief Executive Officer of Pan African said 'I am delighted to see\nthe Company's shares commence trading on AltX today. Pan African is now the\nlargest gold production and exploration company trading on the growing Altx\nmarket and we are confident that there will be significant interest in the\nCompany from the South African investment community.'\n\n\nEnquiries:\n\nPan African Resources Ambrian Partners Limited Parkgreen Communications\n\nJan Nelson, CEO Richard Brown Justine Howarth\n+27 (0) 11 777 7840 +44 (0) 20 7776 6417 +44 (0) 207 851 7480\n\nColin Bird, Chairman Richard Greenfield\n+44 (0) 207 584 2155 +44 (0) 20 7776 6418\n\n\nNotes to Editors:\n\n\nPan African is a mid tier gold production and exploration company with assets in\nMozambique, Central African Republic and a regional exploration focus in Ghana.\n\n\nThe Company's portfolio includes the Manica project in Mozambique which has an\nindependently verified resource of 1.5moz, two projects in the Central African\nRepublic, Begoin and Dekoa, in two of the major four known greenstone belts,\nplus the highly prospective Akrokerri Exploration license in Southern Ghana.\n\nPan African announced on 20 December 2006 that it had signed a conditional Sale\nof Shares Agreement with Metorex Limited to purc...