Pan African Resources PLC
31 July 2007
31 July 2007 AIM:PAF
Pan African Resources PLC ('Pan African' or the 'Company')
Pan African Commences Trading on AltX
Re-admission to Trading on AIM
The directors of Pan African announce that subsequent to the announcement of 4
July 2007 and following the acquisition of Barberton Mines Limited
('Barberton'), the Company's ordinary shares ('Shares') today began trading on
Altx, the junior market of the Johannesburg Stock Exchange.
The Company's Shares have also today been officially re-admitted to trading on
AIM. Following shareholder approval for the acquisition of Barberton, which
constituted a reverse takeover under the AIM Rules for Companies ('AIM Rules'),
trading in the Company's Shares on AIM was initially cancelled as required by
the AIM Rules. The entire issued share capital, as enlarged by the issue of
Shares to Metorex Limited and Pangea Exploration (Proprietary) Limited under the
terms of the Barberton acquisition, was then immediately re-admitted to trading
on AIM.
Jan Nelson, Chief Executive Officer of Pan African said 'I am delighted to see
the Company's shares commence trading on AltX today. Pan African is now the
largest gold production and exploration company trading on the growing Altx
market and we are confident that there will be significant interest in the
Company from the South African investment community.'
Enquiries:
Pan African Resources Ambrian Partners Limited Parkgreen Communications
Jan Nelson, CEO Richard Brown Justine Howarth
+27 (0) 11 777 7840 +44 (0) 20 7776 6417 +44 (0) 207 851 7480
Colin Bird, Chairman Richard Greenfield
+44 (0) 207 584 2155 +44 (0) 20 7776 6418
Notes to Editors:
Pan African is a mid tier gold production and exploration company with assets in
Mozambique, Central African Republic and a regional exploration focus in Ghana.
The Company's portfolio includes the Manica project in Mozambique which has an
independently verified resource of 1.5moz, two projects in the Central African
Republic, Begoin and Dekoa, in two of the major four known greenstone belts,
plus the highly prospective Akrokerri Exploration license in Southern Ghana.
Pan African announced on 20 December 2006 that it had signed a conditional Sale
of Shares Agreement with Metorex Limited to purchase 74% of Barberton Mines
Limited in South Africa. Barberton Mines comprises Fairview, Sheba and New
Consort Mines, located in the Mpumalanga Province.
This information is provided by RNS
The company news service from the London Stock Exchange