27 July 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
Wage Negotiations Concluded at Barberton Mines
Pan African announces that it has successfully negotiated with the National
Union of Mineworkers (`NUM') on wages and other conditions of employment for
the 2011/2012 financial year.
A one-year agreement has been concluded with employees represented by the NUM
and amounts to an average increase of 11% across the board.
The NUM employees will furthermore receive an increase to their housing
allowance from ZAR1,100 per month to ZAR1,300 per month. These increases are
effective from 1 July 2011.
Pan African is not a member of the Chamber of Mines and as it has successfully
concluded the wage negotiations will not be affected by any strike action by
the NUM.
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 Advisers (Pty) Gable Communications
Ltd
Justine James
Melanie de Nysschen/ Annerie Britz/
Yvette Labuschagne +44 (0)20 7193 7463
+27 (0) 11 583 2000