Business
Result of placing in Pan African Resources PLC
Result of placing in Pan African Resources PLC.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SHARES OR OTHER SECURITIES OF PAN AFRICAN RESOURCES PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (\"MAR\") as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.\n19 March 2025\nResult of secondary placing in Pan African Resources PLC\n \nFurther to the announcement on 18 March 2025 in relation to a proposed placing of ordinary shares in Pan African Resources PLC (\"Pan African\" or the \"Company\"), Tembo Capital Holdings Guernsey Ltd (\"Tembo Capital\" or the \"Seller\"), has sold the entirety of its position in Pan African, comprising 58,772,314 ordinary shares in the Company (the \"Placing Shares\") at a price of 39 pence per share (the \"Placing\"). The Placing Shares represent approximately 2.5 per cent of the Company's issued share capital(1).\nThe Placing was conducted through an accelerated bookbuild. Joh. Berenberg, Gossler & Co. KG (\"Berenberg\") and BMO Capital Markets Limited (\"BMO Capital Markets\") acted as Joint Bookrunners for the Seller in connection with the Placing (together the \"Banks\").\n \nThe proceeds of the Placing are payable in cash on usual settlement terms and settlement of the Placing is expected to occur on 21 March 2025.\nPan African is not a party to the Placing and will not receive any proceeds from the Placing.\n \n(1) 2,335,675,263 shares in issue as at 9 December 2024, of which 306,358,058 are held in treasury.\n \nFor further information, please contact:\nBerenberg \nJennifer Lee / Natasha Ninkov\nTel.: +44 (0) 20 3207 7800 \nBMO Capital Markets\nThom...