25 August 2010
Pan African Resources PLC
(`Pan African' or the `Company')
(Incorporated and registered in England and Wales under Companies Act 1985 with
registered number 3937466 on 25 February 2000)
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
Revised trading update
Shareholders are referred to the trading update released on Monday, 28 June
2010 ("Trading Update"). Shareholders were advised that in terms of paragraph
3.4(b) of the Listings Requirements of the JSE, a listed company is required to
publish a trading statement as soon as it is satisfied that a reasonable degree
of certainty exists that the financial results for the period to be reported on
next, will differ by at least 20 per cent from those of the previous
corresponding period.
The Company advises that due to higher than forecast gold sales at the end of
June 2010, and a lower than expected average ZAR:GBP exchange rate, the
expected earnings per share and headline earnings per share have been adjusted
as follows:
Earnings per share for the financial year ended 30 June 2010, denominated in
pounds sterling ("GBP"), is expected to be between 159 and 162 per cent higher
than those for the previous corresponding period (2009: 0.4 pence per share).
Earnings per share, calculated in South African Rand ("ZAR"), as well as
headline earnings calculated in GBP and ZAR, are expected to remain within the
ranges previously indicated.
The financial information for the financial year ending 30 June 2010 and
contained in this trading update has neither been reviewed nor reported on by
the Company`s auditors. It is anticipated that the Company's audited results
for the financial year ending 30 June 2010 will be released on 31 August 2010.
ENDS
For further information on Pan African Resources please visit the website at
www.panafricanresources.com
Enquiries:
Pan African Resources
Jan Nelson, Chief Executive Officer
+27 (0) 11 243 2900
Nicole Spruijt, Public Relations
+27 (0) 11 243 2900
RBC Capital Markets
Martin Eales / Brett Jacobs
+44 (0) 20 7029 7881
Macquarie First SouthAdvisers(Pty) Limited
Melanie de Nysschen / Annerie Britz
+27 (0) 11 583 2000
St James's Corporate Services Limited
Phil Dexter
+44 (0) 20 7499 3916
Hansard Communications
Justine James
+44 (0) 20 7245 1100
+44 (0) 7525 324431
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