Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 with
registered number 3937466 on 25 February 2000)
AIM Code: PAF
JSE Code: PAN
ISIN: GB0004300496
("Pan African" or "the Company")
DEALING IN SECURITIES
The Company was notified on 24 May 2013 of the following dealing in respect of
the Company's ordinary shares of 1 pence each ("Shares"):
Name of individual: KC Spencer
Company of which he is a director: Pan African Resources PLC
Nature of transaction: Exercise of options granted in 2008 in terms of the
Company's share option plan
Date of transaction: 24 May 2013
Number of shares: 1,500,000
Price per ordinary share: ZAR0.83 ("Strike Price")
Value of transaction: ZAR1,245,000
Class of shares: Shares
Interest of director: Indirect beneficial
Clearance obtained: Yes
On-market or off-market: Off-market
Further to this exercise of options by Mr Spencer, the Company has issued
1,500,000 Shares at the Strike Price for a total consideration of ZAR1,245,000
to Mr Spencer's family trust - Strode Trust. Following this issue of Shares,
the total issued share capital of the Company comprises 1,822,834,263 Shares.
Mr Spencer's total indirect beneficial interest in Pan African after the
exercise of options is 1,500,000 Shares, representing 0.08% of the issued share
capital of the Company.
Application will be made to the AIM market of the London Stock Exchange ("AIM")
and to the exchange operated by JSE Limited ("JSE") for 1,500,000 Shares to be
admitted to trading on AIM and for listing on the JSE, with admission to
trading and listing on both markets expected to occur on 31 May 2013.
Johannesburg
24 May 2013
JSE Sponsor
One Capital
PAN AFRICAN ENQUIRIES UK
South Africa
Pan African Resources Canaccord Genuity Limited - Nomad and
Joint Broker
Mr Cobus Loots
Andrew Chubb / Peter Stewart / Joe Weaving
Non-executive director and Joint
Interim Chief Executive Officer +44 (0) 20 7523 8350
+27 (0) 11 305 8900
Mr Ron Holding
Chief Operating Officer and Joint
Interim Chief Executive Officer
+27 (0) 11 243 2900
One Capital finnCap Limited - Joint Broker
Sholto Simpson / Megan Young Elizabeth Johnson / Joanna Weaving
+27 (0) 11 550 5000 +44 (0) 20 7220 0500
Vestor Investor Relations St James's Corporate Services Limited
Louise Brugman Phil Dexter
+27 (0) 11 787 3015 +44 (0) 20 7499 3916
+27 83 504 1186
Gable Communications
Justine James
+44 (0) 20 7193 7463 / +44 (0) 7525 324431
For further information on Pan African, please visit the website at
www.panafricanresources.com