Business
Secondary placing in Pan African Resources PLC
Secondary 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[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION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.\n18 March 2025\nProposed secondary placing in Pan African Resources PLC\nTembo Capital Holdings Guernsey Ltd (\"Tembo Capital\" or the \"Seller\"), has indicated its intention to sell their entire holding, the equivalent of approximately 58.8 million existing ordinary shares in Pan African Resources PLC (\"Pan African\" or the \"Company\") (the \"Placing Shares\") through a placing to eligible institutional investors by means of an accelerated bookbuild (the \"Placing\").\n \nJoh. Berenberg, Gossler & Co. KG (\"Berenberg\") and BMO Capital Markets Limited (\"BMO Capital Markets\") are acting as Joint Bookrunners in relation to the Placing (together the \"Banks\").\n \nThe price per Placing Share will be determined through an accelerated bookbuild process. The bookbuild process will commence with immediate effect following this announcement and may close at any time on short notice. A further announcement will be made following the completion of the bookbuild and pricing of the Placing. The Company is not a party to the Placing and will not receive any proceeds from the Placing.\n \nFor further information, please contact:\nBerenberg \nJennifer Lee / Natasha Ninkov\nTel.: +44 (0) 20 3207 7800 \nBMO Capital Markets\nThomas Rider / Pascal Lussier Duquette\nTel.: +44 (0) 20 7236 1010\nImportant Notice:\nMEMBERS OF THE GENERAL PUBLIC ARE NOT E...