Last checked at 30 Mar 2012 14:45
Pan African Resources plc
(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)
Share code on AIM: PAFShare code on JSE: PANISIN: GB0004300496
("Pan African" or the "Company")
HOLDING IN COMPANY AND DEALINGS BY AN ASSOCIATE OF A NON-EXECUTIVE DIRECTOR
The Company was notified on Friday 30 March 2012 that Pangea Exploration (Pty) Ltd ("Pangea"), a private company of which Mr Rob Still is a director, had disposed of 1,530,612 ordinary shares of 1 pence each in the Company ("Shares") at ZAR1.96 per share for a total value of ZAR3,000,000.
The shares were sold by Pangea in order to finance new business.
Following this off market transaction, Pangea holds 1,793,796 Shares, representing 0.12% of the issued capital of the Company. Mr Still's total direct, beneficial interest in Pan African remains unchanged at 2,000,000 Shares, representing 0.14% of the issued share capital of the Company as well as his total indirect, non-beneficial interest of 14,224,696 Shares representing 0.98% of the issued share capital of the Company.
Mr Still did not receive any direct or indirect benefit from the abovetransaction.Johannesburg30 March 2012JSE Sponsor One Capital EnquiriesSouth Africa UK Pan African Resources RBC Capital Markets
Jan Nelson, Chief Executive Officer Martin Eales / James Kelly
+27 (0) 11 243 2900 +44 (0) 20 7653 4000 One Capital St James's Corporate Services Limited
Sholto Simpson / Megan Young / Nicholas Phil Dexter Tyler +44 (0) 20 7499 3916 +27 (0) 11 550 5000 Gable Communications Vestor Investor Relations
Justine James Louise Brugman +44 (0) 20 7193 7463 +27 (0) 11 787 3015
For further information on Pan African, please visit the website at www.panafricanresources.com
XLON