19 August 2011
Pan African Resources PLC
(`Pan African' or the `Company' or the `Group')
Incorporated and registered in England and Wales under Companies Act 1985 with
the registered number: 3937466 on 25 February 2000
Share Code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
Listing of Manica as a Separate Entity to Unlock Optimal Shareholder Value
On 22 June 2011, Pan African announced that it was exploring optimal ways to
bring its Manica gold project located in Mozambique ("Manica Project") to
account. The Company advises that a process to list its Manica Project as a
separate entity on an appropriate international exchange ("Separate Listing"),
has now commenced.
Pan African believes that the Separate Listing will allow it to focus its
capital and human resources on pursuing organic growth opportunities around the
Company's mining operations in South Africa. At the same time, a separate
management team, which has been appointed by the Company, will have the
financial flexibility and focus to grow the Manica Project. Pan African intends
to retain an equity stake in the new listed entity.
The Company made a presentation in respect of the Separate Listing to the
Mozambican Minister of Mines in Maputo yesterday, 18 August 2011, which
presentation is available for download from the Company's website hosted at
www.panafricanresources.com
Pan African believes that the Separate Listing will unlock optimal value for
its shareholders, and it will advise of progress made in respect of this
process in due course.
Enquiries:
South Africa UK
Pan African RBC Capital Markets
Jan Nelson, Chief Executive Officer Martin Eales
+27 (0) 11 243 2900 +44 (0) 20 7029 7881
Pan African St James's Corporate Services Limited
Nicole Spruijt, Public Relations Phil Dexter
+27 (0) 11 243 2900 +44 (0) 20 7499 3916
Macquarie First South Capital (Pty) Gable Communications
Ltd
Justine James
Annerie Britz/ Melanie de Nysschen/
Yvette Labuschagne +44 (0)20 7193 7463
+27 (0) 11 583 2000
ENDS