Pan African Resources Regulatory News (PAF)

31 Jul 2007 14:29

Pan African Resources PLC31 July 2007 31 July 2007 AIM:PAF Pan African Resources PLC ('Pan African' or the 'Company') Pan African Commences Trading on AltX Re-admission to Trading on AIM The directors of Pan African announce that subsequent to the announcement of 4July 2007 and following the acquisition of Barberton Mines Limited('Barberton'), the Company's ordinary shares ('Shares') today began trading onAltx, the junior market of the Johannesburg Stock Exchange. The Company's Shares have also today been officially re-admitted to trading onAIM. Following shareholder approval for the acquisition of Barberton, whichconstituted a reverse takeover under the AIM Rules for Companies ('AIM Rules'),trading in the Company's Shares on AIM was initially cancelled as required bythe AIM Rules. The entire issued share capital, as enlarged by the issue ofShares to Metorex Limited and Pangea Exploration (Proprietary) Limited under theterms of the Barberton acquisition, was then immediately re-admitted to tradingon AIM. Jan Nelson, Chief Executive Officer of Pan African said 'I am delighted to seethe Company's shares commence trading on AltX today. Pan African is now thelargest gold production and exploration company trading on the growing Altxmarket and we are confident that there will be significant interest in theCompany from the South African investment community.' Enquiries: Pan African Resources Ambrian Partners Limited Parkgreen Communications Jan Nelson, CEO Richard Brown Justine Howarth+27 (0) 11 777 7840 +44 (0) 20 7776 6417 +44 (0) 207 851 7480 Colin Bird, Chairman Richard Greenfield+44 (0) 207 584 2155 +44 (0) 20 7776 6418 Notes to Editors: Pan African is a mid tier gold production and exploration company with assets inMozambique, Central African Republic and a regional exploration focus in Ghana. The Company's portfolio includes the Manica project in Mozambique which has anindependently verified resource of 1.5moz, two projects in the Central AfricanRepublic, Begoin and Dekoa, in two of the major four known greenstone belts,plus the highly prospective Akrokerri Exploration license in Southern Ghana. Pan African announced on 20 December 2006 that it had signed a conditional Saleof Shares Agreement with Metorex Limited to purchase 74% of Barberton MinesLimited in South Africa. Barberton Mines comprises Fairview, Sheba and NewConsort Mines, located in the Mpumalanga Province. This information is provided by RNS The company news service from the London Stock Exchange