Business
Wage Negotiations Concluded
Wage Negotiations Concluded.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n \n27 July 2011\n\n Pan African Resources PLC \n\n (`Pan African' or the 'Company' or the `Group') \n\nIncorporated and registered in England and Wales under Companies Act 1985 with \n the registered number: 3937466 on 25 February 2000 \n\n Share Code on AIM: PAF \n\n Share code on JSE: PAN \n\n ISIN: GB0004300496 \n\n Wage Negotiations Concluded at Barberton Mines \n\nPan African announces that it has successfully negotiated with the National\nUnion of Mineworkers (`NUM') on wages and other conditions of employment for\nthe 2011/2012 financial year.\n\nA one-year agreement has been concluded with employees represented by the NUM\nand amounts to an average increase of 11% across the board.\n\nThe NUM employees will furthermore receive an increase to their housing\nallowance from ZAR1,100 per month to ZAR1,300 per month. These increases are\neffective from 1 July 2011.\n\nPan African is not a member of the Chamber of Mines and as it has successfully\nconcluded the wage negotiations will not be affected by any strike action by\nthe NUM.\n\nEnquiries:\n\nSouth Africa UK \n \nPan African RBC Capital Markets \n \nJan Nelson, Chief Executive Officer Martin Eales \n \n+27 (0) 11 243 2900 +44 (0) 20 7029 7881 \n \nPan African St James's Corporate Services Limited \n \nNicole Spruijt, Public Relations Phil Dexter \n \n+27 (0) 11 243 2900 +44 (0) 20 7499 3916 \n \nMacquarie First South Advisers (Pty) Gable Communications \nLtd \n Justine James \nMelanie de Nysschen/ Annerie Britz/ \nYvette Labuschagne +44 (0)20 7193 7463 \n \n+27 (0) 11 583 2000\n ","length":2938,"tagName":"div"}]