Last checked at 13 Oct 2016 10:00
PAN AFRICAN RESOURCES PLC - Salient Dividend DatesPAN AFRICAN RESOURCES PLC - Salient Dividend Dates
PR Newswire
London, October 13
Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)
AIM Code: PAF
JSE Code: PAN
ISIN: GB0004300496
("Pan African" or the “Company” or the “Group”)
SALIENT DIVIDEND DATES
Shareholders are referred to the Group’s results that were released on 21 September 2016, wherein an exchange rate of South African Rand (“ZAR”) to the British Pound (“GBP”), ZAR/GBP: 18.7500 was used for illustrative purposes to convert the proposed ZAR dividend of ZAR0.15438 per share into GBP.
Shareholders are advised that, should the proposed dividend be approved at the Annual General Meeting of the Company scheduled for Friday, 25 November 2016, the exchange rate for conversion of the ZAR dividend into GBP will be a fixed exchange rate of ZAR/GBP: 17.5787.
Assuming the final dividend is approved by shareholders, the following salient dates would apply:
| 2016 | |
| Currency conversion date | 11 October, Wednesday |
| Last date to trade on the exchanges | 06 December, Tuesday |
| Ex-Dividend date on the JSE | 07 December, Wednesday |
| Ex-Dividend date on the LSE | 08 December, Thursday |
| Record date | 09 December, Friday |
| Payment date | 22 December, Thursday |
The proposed final dividend was calculated on 1,943,206,554 shares in issue and an exchange rate of ZAR/GBP: 17.5787, which translates to a final dividend of 0.87822 pence per share, which is a 6.7% increment on the illustrative dividend per share of 0.82338 pence per share referred to in the Group’s results announcement.
The South African dividends tax rate is fifteen percent per ordinary share and therefore shareholders who are liable to pay the dividends tax will receive a net dividend of ZAR0.13122 cents per share (0.74649 pence per share). Foreign investors may qualify for a lower dividend tax rate, subject to completing a dividend tax declaration and submitting it to Computershare Limited or Capita Plc who manage the SA and UK register, respectively. The Company's South African income tax reference number is 9154588173.
Johannesburg
13 October 2016
CONTACT INFORMATION
Corporate OfficeThe Firs Office Building1st Floor, Office 101Cnr. Cradock and Biermann AvenuesRosebank, JohannesburgSouth Africa
Office: + 27 (0) 11 243 2900Facsimile: + 27 (0) 11 880 1240
Registered Office
Suite 31Second Floor107 CheapsideLondonEC2V 6DNUnited Kingdom
Office: + 44 (0) 207 796 8644Facsimile: + 44 (0) 207 796 8645
| Cobus Loots | Deon Louw |
| Pan African Resources PLC | Pan African Resources PLC |
| Chief Executive Officer | Financial Director |
| Office: + 27 (0) 11 243 2900 | Office: + 27 (0) 11 243 2900 |
| Phil Dexter | John Prior / Paul Gillam |
| St James's Corporate Services Limited | Numis Securities Limited |
| Company Secretary | Nominated Adviser and Joint Broker |
| Office: + 44 (0) 207 796 8644 | Office: +44 (0) 20 7260 1000 |
| Sholto Simpson | Matthew Armitt / Ross Allister |
| One Capital | Peel Hunt LLP |
| JSE Sponsor | Joint Broker |
| Office: + 27 (0) 11 550 5009 | Office: +44 (0) 207 418 8900 |
| Julian Gwillim | Daniel Thöle |
| Aprio Strategic Communications | Bell Pottinger PR |
| Public & Investor Relations SA | Public & Investor Relations UK |
| Office: +27 (0)11 880 0037 | Office: + 44 (0) 203 772 2500 |
Jeffrey Couch/Neil Haycock/Thomas RiderBMO Capital Markets LimitedJoint Broker
Office: +44 (0) 207 236 1010http://www.panafricanresources.com/