Pan African Resources Appoints New CEO, CFO

LONDON (Alliance News) - Pan African Resources PLC Monday said interim joint Chief Executive Ron Holding has been appointed permanently to the post, while Cobus Loots will take over as finance director after Busi Sitole resigned to focus on personal commitments.

Holding was the company's chief operating officer until he was appointed interim joint CEO in March.

"His experience positions him to effectively further the Company's strategy of being a low cost, high margin, precious metals producer, particularly in light of our organic growth plans at Evander and Barberton Mines," Chairman Keith Spencer said in a statement.

The company's shares were up 1.9% at 13.25 pence Monday morning.

By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1

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Pan African Resources