Last checked at 15 Feb 2013 08:00
PAN AFRICAN RESOURCES PLC - Acquisition of Evander becomes unconditionalPAN AFRICAN RESOURCES PLC - Acquisition of Evander becomes unconditional
PR Newswire
London, February 15
Pan African Resources PLC Harmony Gold Mining Company Limited
(Incorporated and registered in England Registration number 1950/038232/06 and Wales under Companies Act 1985 Incorporated in the Republic of South with registered number 3937466 on 25 Africa February 2000) ISIN: ZAE000015228 AIM Code: PAF NYSE code: HMY JSE Code: PAN JSE share code: HAR ISIN: GB0004300496 ("Harmony") ("Pan African") PAN AFRICAN'S ACQUISITION OF EVANDER GOLD MINES LIMITED ("EVANDER") FROM HARMONY ("TRANSACTION") BECOMES UNCONDITIONALPan African and Harmony are pleased to advise their shareholders that the lastremaining condition precedent to the Transaction has been fulfilled followingreceipt of the consent required in accordance with section 11 of the Mineraland Petroleum Resources Development Act, No. 28 of 2002.
Accordingly, the Transaction is now unconditional.
Pan African shall assume effective control over Evander on 28 February 2013.
Jan Nelson, CEO of Pan African said:
"We are delighted to finally take full control of Evander - a world class orebody and exceptional team of people will ensure that Pan African continues todeliver profitable, sustainable stakeholder growth. In addition to the 100kozof annual gold production, Evander also provides Pan African with a projectpipeline that provides for significant growth possibilities and flexibility.
I would like to thank Harmony on behalf of the board of Pan African for themanner and spirit in which the transaction was concluded. We welcome theEvander team and look forward to an exciting future."
Graham Briggs, CEO of Harmony said:
"The proceeds from the Evander sale further strengthen Harmony's cash position.We are leaving Evander in the hands of a capable management team, who webelieve will run the mine in a sustainable manner."
15 February 2013
Lead Corporate Adviser, Transaction Corporate Adviser to HarmonySponsor and JSE Sponsor to Pan
African Merrill Lynch South AfricaOne CapitalJoint Corporate Adviser and Sponsor to Harmony Independent Transaction Sponsor to Pan African J. P. Morgan Equities South Africa (Pty) LtdNedbank CapitalLegal Counsel to Pan African Legal Counsel to HarmonyWerksmans Inc. Edward Nathan Sonnenbergs Inc.PAN AFRICAN ENQUIRIES UKSouth AfricaPan African Resources Canaccord Genuity Limited - Nomad and Joint Broker Jan Nelson, Chief Executive Officer Rob Collins / Peter Stewart / Sebastian+27 (0) 11 243 2900 Jones / Joe Weaving +44 (0) 20 7523 8350One Capital finnCap Limited - Joint BrokerSholto Simpson / Megan Young Elizabeth Johnson / Joanna Weaving+27 (0) 11 550 5000 +44 (0) 20 7220 0500Vestor Investor Relations St James's Corporate Services LimitedLouise Brugman Phil Dexter+27 (0) 11 787 3015 +44 (0) 20 7499 3916+27 83 504 1186 Gable Communications Justine James +44 (0) 20 7193 7463 / +44 (0) 7525 324431For further information on Pan African, please visit the website atwww.panafricanresources.comHARMONY ENQUIRIES:Henrika BasterfieldInvestor Relations Officer+27 (0) 82 759 1775 (mobile)Marian van der WaltExecutive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)
For further information on Harmony, please visit the website atwww.harmony.co.za