Last checked at 25 Aug 2010 11:00
25 August 2010 Pan African Resources PLC (`Pan African' or the `Company')
(Incorporated and registered in England and Wales under Companies Act 1985 with
registered number 3937466 on 25 February 2000) Share code on AIM: PAF Share code on JSE: PAN ISIN: GB0004300496 Revised trading update
Shareholders are referred to the trading update released on Monday, 28 June 2010 ("Trading Update"). Shareholders were advised that in terms of paragraph 3.4(b) of the Listings Requirements of the JSE, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next, will differ by at least 20 per cent from those of the previous corresponding period.
The Company advises that due to higher than forecast gold sales at the end of June 2010, and a lower than expected average ZAR:GBP exchange rate, the expected earnings per share and headline earnings per share have been adjusted as follows:
Earnings per share for the financial year ended 30 June 2010, denominated in pounds sterling ("GBP"), is expected to be between 159 and 162 per cent higher than those for the previous corresponding period (2009: 0.4 pence per share). Earnings per share, calculated in South African Rand ("ZAR"), as well as headline earnings calculated in GBP and ZAR, are expected to remain within the ranges previously indicated.
The financial information for the financial year ending 30 June 2010 and contained in this trading update has neither been reviewed nor reported on by the Company`s auditors. It is anticipated that the Company's audited results for the financial year ending 30 June 2010 will be released on 31 August 2010.
ENDS For further information on Pan African Resources please visit the website atwww.panafricanresources.comEnquiries: Pan African Resources
Jan Nelson, Chief Executive Officer +27 (0) 11 243 2900 Nicole Spruijt, Public Relations
+27 (0) 11 243 2900 RBC Capital Markets Martin Eales / Brett Jacobs +44 (0) 20 7029 7881
Macquarie First SouthAdvisers(Pty) Limited Melanie de Nysschen / Annerie Britz +27 (0) 11 583 2000 St James's Corporate Services Limited
Phil Dexter +44 (0) 20 7499 3916 Hansard Communications Justine James +44 (0) 20 7245 1100 +44 (0) 7525 324431
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