Pan African Resources Regulatory News (PAF)

Magnetar Financial LLC - Short Position: Magnetar Financial - Pan African

PR Newswire

London, December 21

Form TR-3. FSA Version 1.0 June 2008

TR-3 (1): Disclosure of Disclosable Short Position relating to Securities

(1) This form, or the information contained within it, should be disclosed viaan RIS using the short code DSP. Issuers should conform the commencement of therights issuer period with a disclosure, via an RIS, using the short code ARI.

(2) This form relates to the disclosure of short positions in compliance withamendments to MAR 1.9 market abuse (misleading behaviour) and market abuse(distortion) of the Market Conduct Sourcebook (MAR). Further material on thiscan be found in the FSA's press release of 13 June 2008, http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/057.shtml and the related FAQ document on the FSA's website.

(3) Specify the owner or controller of the interest. The naming of nominees orvehicle companies is insufficient. In the case of positions held by fundmanagers on behalf of discretionary clients, the clients need not be named.Market makers as defined in the Glossary of Definitions in the FSA Handbook andacting in their capacity as such may be exempt from disclosure of own accountpositions: see the definition of "disclosable short position". Positions may beaggregated in some cases. See FAQ document for further details.

(4) Figure to be expressed as a percentage of issued share capital. Disclosableshort position is defined in the Glossary of Definitions in the FSA Handbook.Positions must be disclosed on a net basis of all holdings. All financialinstruments that represent a direct interest or direct economic interest in therelevant issuer must be included within such holdings.