Last checked at 27 Feb 2013 14:10
PAN AFRICAN RESOURCES PLC - Resignation of Chief Executive OfficerPAN AFRICAN RESOURCES PLC - Resignation of Chief Executive Officer
PR Newswire
London, February 27
Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 withregistered number 3937466 on 25 February 2000)
AIM Code: PAFJSE Code: PANISIN: GB0004300496("Pan African" or "the Company")
RESIGNATION OF CHIEF EXECUTIVE OFFICER
Pan African shareholders are advised that Mr Jan Nelson has resigned as theCompany's Chief Executive Officer ("CEO") and as a member of the board ofdirectors ("Board"), with effect from 1 March 2013. Mr Nelson's advice remainsavailable to the Company. He remains a director of Auroch Minerals, the holdingcompany of the Manica Gold Project.
The Board thanks Mr Nelson for his significant contribution to the growth ofPan African, including in respect of the successful acquisition of Evander GoldMines Limited, and wishes him well with his future endeavours.
The Board has appointed Mr Ron Holding and Mr Cobus Loots as joint interimCEO's, until a successor is appointed. Mr Holding is currently the ChiefOperating Officer of Pan African and has been an employee of Phoenix PlatinumMining (Proprietary) Limited and Pan African since 2001. Mr Loots is the formerChief Financial Officer of Pan African and has been a director of the Companysince 2009.
Keith Spencer, Chairman of the Board, commented: "We appreciate Jan'ssignificant contribution to the transformation and growth of Pan African andparticularly in respect of the successful acquisition of Evander Gold Mines.The Board wishes him all the best with his future endeavours. Mr Nelson hasagreed that his counsel will remain available to the Company for a periodfollowing his departure."
Mr Nelson commented: "I thank the Board for its good wishes and am proud toleave the Company following the successful achievement of such a significantmilestone. I believe Evander will contribute significantly to Pan African'smedium to long term growth and my best wishes accompany all the staff and otherstakeholders in Pan African."
Johannesburg27 February 2013JSE SponsorOne CapitalPAN AFRICAN ENQUIRIESSouth Africa UKPan African Resources Canaccord Genuity Limited - Nomad and Joint BrokerMr Cobus Loots Andrew Chubb / Peter StewartDirector / Sebastian Jones / Joe Weaving+27 (0) 11 305 8900 +44 (0) 20 7523 8350Mr Ron HoldingChief Operating Officer+27 (0) 11 243 2900One 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.com