Pan African Resources Share Price (PAF)

The consequence of the Relevant Distributions being made otherwise than in accordance with the Act is that the Company may have a claim against all shareholders (former or present) who received any such distribution (up to the maximum value of cumulative distributions received by each shareholder from the Relevant Distributions) as well as a claim against all Directors (former or present, individually or in aggregate) who approved the making of the Relevant Distributions, up to the total aggregate value of US$93,384,863 in respect of the Relevant Dividends and in respect of US$ 3.222 million (equivalent to approximately £2.55 million) in respect of the Buy Backs.

Missing dividends in "illegal dividends"

The Board have messed up by inadvertently paying illegal and could be personally liable for the rectification of the situation. Someone (CFO?) will be in trouble.

Capital reduction refers to the process of being able to buy back shares in ones own company.

They need to get permission to do this.

Well I’ve read that through and the legal terminology defeats me. Can someone tell me the Janet and John version??