Private Placing

22 Dec 2005 12:54

Pan African Resources PLC22 December 2005 22 December 2005 Pan African Resources plc ('Pan African Resources', 'The Company') Fundraising: GBP 210,000 private placing Pan African Resources PLC (AIM: PAF) the African based gold exploration companyannounces that it has raised GBP 210,000 by way of private placing of 7millionnew ordinary 1p shares at 3p (pence) per share to institutional and professionalinvestors. The capital raised will be utilised to progress the Company'sexploration activities in the Central African Republic. Application will be made for the new shares to be admitted for trading on AIMand it is anticipated that they will be admitted on 6th January 2006. Ends Pan African Resources Ambrian Partners Parkgreen CommunicationsJan Nelson, CEO Richard Brown / Justine Howarth /+27 11 886 1211 Emma Priestley Victoria ThomasColin Bird, Chairman +44 (0) 207 776 6400 +44 (0) 20 7493 3713+44 (0) 20 7584 2155 This information is provided by RNS The company news service from the London Stock Exchange