Pan African Resources Plc Result of AGM & Salient Dividend Dates

 
TIDMPAF 
 
Pan African Resources PLC 
(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 
                ("Pan African" or the "Company" or the "Group") 
 
         RESULTS OF ANNUAL GENERAL MEETING AND SALIENT DIVIDEND DATES 
 
RESULTS OF ANNUAL GENERAL MEETING 
 
Pan African shareholders ("Shareholders") are advised that at the annual 
general meeting ("AGM") of Shareholders held on Tuesday, 21 November 2017, all 
the ordinary and special resolutions, save for special resolution number 12, as 
set out in the notice of AGM dated 20 September 2017, were approved by the 
requisite majority of shareholders present or represented by proxy. 
 
The total number of Pan African ordinary shares ("Shares") eligible to vote at 
the AGM is 2,234,687,537. 
 
All resolutions proposed at the AGM, together with the percentage of shares 
abstained, as well as the percentage of votes carried for and against each 
resolution, are as follows: 
 
Ordinary resolution number 1: To receive and adopt the directors' report, the 
audited statement of accounts and the auditors' report for the year ended 30 
June 2017 
 
Shares Voted        Abstained           For                 Against 
 
1,732,569,582       271,339 
77.53%              0.01%               100%                0.00% 
 
Ordinary resolution number 2: To approve the payment of a final dividend for 
the year ended 30 June 2017* 
 
Shares Voted        Abstained           For                 Against 
 
1,732,569,582       271,339 
77.53%              0.01%               99.99%              0.01% 
 
*Shareholders are referred to the salient dates and conversion rate details of 
the final dividend below. 
 
Ordinary resolution number 3: To re-elect Mr RM Smith as a director of the 
Company 
 
Shares Voted        Abstained           For                 Against 
 
1,709,749,337       23,091,584 
76.51%              1.03%               96.92%              3.08% 
 
Ordinary resolution number 4: To re-elect Mr KC Spencer as a director of the 
Company 
 
Shares Voted        Abstained           For                 Against 
 
1,709,749,337       23,091,584 
76.51%              1.03%               98.91%              1.09% 
 
Ordinary resolution number 5: To re-elect Mrs HH Hickey as a member of the 
audit committee 
 
Shares Voted        Abstained           For                 Against 
 
1,610,557,753       122,283,168 
72.07%              5.47%               98.29%              1.71% 
 
Ordinary resolution number 6: To re-elect Mr KC Spencer as a member of the 
audit committee 
 
Shares Voted        Abstained           For                 Against 
 
1,709,768,961       23,071,960 
76.51%              1.03%               77.59%              22.41% 
 
Ordinary resolution number 7: To re-elect Mr TF Mosololi as a member of the 
audit committee 
 
Shares Voted        Abstained           For                 Against 
 
1,709,743,259       23,097,662 
76.51%              1.03%               94.14%              5.86% 
 
Ordinary resolution number 8: To endorse the Company's remuneration policy 
 
Shares Voted        Abstained           For                 Against 
 
1,698,261,810       34,579,111 
76.00%              1.55%               80.99%              19.01% 
 
Ordinary resolution number 9: To endorse the Company's remuneration 
implementation report 
 
Shares Voted        Abstained           For                 Against 
 
1,698,218,227       34,622,694 
75.99%              1.55%               82.70%              17.30% 
 
Ordinary resolution number 10: To re-appoint Deloitte LLP as auditors of the 
Company and to authorise the directors to determine their remuneration 
 
Shares Voted        Abstained           For                 Against 
 
1,732,569,813       271,108 
77.53%              0.01%               99.76%              0.24% 
 
Ordinary resolution number 11: To authorise the directors to allot equity 
securities 
 
Shares Voted        Abstained           For                 Against 
 
1,732,477,132       363,789 
77.53%              0.02%               57.05%              42.95% 
 
Special resolution number 12: To approve the disapplication of pre-emption 
rights 
 
Shares Voted        Abstained           For                 Against 
 
1,709,537,603       23,303,318 
76.50%              1.04%               57.67%              42.33% 
 
Special resolution number 13: To approve market purchases of ordinary shares 
 
Shares Voted        Abstained           For                 Against 
 
1,732,570,213       270,708 
77.53%              0.01%               94.03%              5.97% 
 
Notes 
 
  * Percentages of Shares voted are calculated in relation to the total issued 
    ordinary share capital of Pan African. 
  * Percentages of Shares voted for and against each resolution are calculated 
    in relation to the total number of Shares voted in respect of each 
    resolution. 
  * Abstentions are calculated as a percentage in relation to the total issued 
    ordinary share capital of Pan African. 
 
SALIENT DIVIDEND DATES 
 
Shareholders are referred to the Group's results that were released on 
20 September 2017, wherein an exchange rate of South African Rand ("ZAR") to 
the British Pound ("GBP") of ZAR/GBP: 17.00:1 was used for illustrative 
purposes to convert the proposed ZAR dividend of ZAR0.08279 per share into GBP. 
 
Shareholders are advised that, following the approval of the final dividend at 
the AGM, the exchange rate for conversion of the final dividend into GBP is a 
fixed exchange rate of ZAR/GBP: 18.51:1 which translates to a final GBP 
dividend of 0.44727 pence per share. The dividend will be distributed from 
income reserves. 
 
The following salient dates apply: 
 
Currency conversion date                  Tuesday, 21 November 2017 
 
Last date to trade on the exchanges       Tuesday, 5 December 2017 
 
Ex-dividend date on the JSE               Wednesday, 6 December 2017 
 
Ex-dividend date on the LSE               Thursday, 7 December 2017 
 
Record date                               Friday, 8 December 2017 
 
Payment date                              Thursday, 21 December 2017 
 
Notes 
 
  * No transfers between the Johannesburg and London registers between the 
    commencement of trading on Monday, 4 December 2017 and close of business on 
    Friday, 8 December 2017 will be permitted. 
  * No Shares may be dematerialised or rematerialised between Wednesday, 6 
    December 2017 and Friday, 8 December 2017, both days inclusive. 
 
The final dividend per share was calculated on 2,234,687,537 total shares in 
issue equating to ZAR0.08279 per share or 0.44727 pence per share. 
 
The South African dividends tax rate is 20% per share and therefore 
Shareholders who are liable to pay dividends tax will receive a net dividend of 
ZAR0.06623 per Share (0.35782 pence per Share). Non-South African tax resident 
investors may qualify for a lower dividend tax rate, subject to completing a 
dividend tax declaration form which is available from Computershare Investor 
Services Proprietary Limited or Link Asset Services who manage the SA and UK 
register, respectively. The Company's South African income tax reference number 
is 9154588173. 
 
Johannesburg 
 
22 November 2017 
 
CONTACT INFORMATION 
 
Corporate Office                      Registered Office 
 
The Firs Office Building              Suite 31 
 
1st Floor, Office 101                 Second Floor 
 
Cnr. Cradock and Biermann Avenues     107 Cheapside 
 
Rosebank, Johannesburg                London 
 
South Africa                          EC2V 6DN 
 
Office:   + 27 (0) 11 243 2900        United Kingdom 
 
Facsimile: + 27 (0) 11 880 1240       Office:   + 44 (0) 20 7796 8644 
 
www.panafricanresources.com           Facsimile: + 44 (0) 20 7796 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) 20 7796 8644         Office: [phone] 
 
Sholto Simpson                        Ross Allister / Chris Burrows 
 
One Capital                           Peel Hunt LLP 
 
JSE Sponsor                           Joint Broker 
 
Office: + 27 (0) 11 550 5009          Office: [phone] 
 
Julian Gwillim                        Jeffrey Couch / Neil Haycock / Thomas 
                                      Rider 
 
Aprio Strategic Communications        BMO Capital Markets Limited 
 
Public & Investor Relations SA        Joint Broker 
 
Office: [phone]            Office: [phone] 
 
Bobby Morse / Chris Judd 
 
Buchanan Communications 
 
Public & Investor Relations UK 
 
Office: [phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

November 22, 2017 02:00 ET (07:00 GMT)