Pan African Resources Plc Completion of Phase 1 of Share Buyback

 
TIDMPAF 
 
Pan African Resources PLC 
(Incorporated and registered in England and Wales under the Companies Act 1985 
with registered number 3937466 on 25 February 2000) 
Share code on AIM: PAF 
Share code on JSE: PAN 
ISIN: GB0004300496 
ADR ticker code: PAFRY 
 
("Pan African" or the "Company" or the "Group") 
 
PAN AFRICAN RESOURCES PLC COMPLETION OF PHASE 1 OF SHARE BUYBACK 
 
Pan African, the South African gold producer, is pleased to announce that Phase 
1 of the Company's share buyback programme ("the Programme"), as announced on 1 
April 2022, has been completed. 
 
Under the Programme, between 1 April and 9 May 2022, the Company has 
repurchased in aggregate 11,825,491 ordinary shares of £0.01 pence each in the 
Company ("Ordinary Shares") for a total consideration of ZAR 50.3 million 
(approximately £2.55 million). A total of 7,568,744 Ordinary Shares have been 
bought back on the London Stock Exchange at a volume weighted average price of 
21.67 pence per share. A total of 4,256,747 Ordinary Shares have been bought 
back on the Johannesburg Stock Exchange at a volume weighted average price of 
418.21 South African cents per share. 
 
All shares purchased under the Programme have been cancelled. 
 
The Company therefore has 2,222,862,046 ordinary shares of £0.01 each in issue, 
of which 306,358,058 ordinary shares are held in treasury. The above figure of 
2,222,862,046 may be used by shareholders as the denominator for calculating 
whether they are required to notify their interest in, or a change to their 
interest in the Company under the FCA's Disclosure Guidance and Transparency 
Rules. 
 
The information contained in this update is the responsibility of the Pan 
African board of directors and has not been reviewed or reported on by the 
Group's external auditors. 
 
Rosebank 
 
12 May 2022 
 
For further information on Pan African, please visit the Company's website at 
 
www.panafricanresources.com 
 
Corporate information 
 
Corporate office                              Registered Office 
The Firs Office Building                      Suite 31 
2nd Floor, Office 204                         Second Floor 
Corner Cradock and Biermann Avenues           107 Cheapside 
Rosebank, Johannesburg                        London 
South Africa                                  EC2V 6DN 
Office:   + 27 (0) 11 243 2900                United Kingdom 
[e-mail]                                Office: + 44 (0) 20 7796 8644 
 
Chief executive officer                       Financial director 
Cobus Loots                                   Deon Louw 
Office: + 27 (0) 11 243                       Office: + 27 (0) 11 243 2900 
2900 
 
Head: Investor relations                      Website: www.panafricanresources.com 
Hethen Hira 
Tel: + 27 (0)11 243 2900 
E-mail: [e-mail] 
 
Company secretary                             Nominated Adviser and Joint Broker 
Phil Dexter/Jane Kirton                       Ross Allister/Alexander Allen 
St James's Corporate Services Limited         Peel Hunt LLP 
Office: + 44 (0) 20 7796 8644                 Office: [phone] 
 
JSE Sponsor                                   Joint Broker 
Ciska Kloppers                                Thomas Rider/Nick Macann 
Questco Corporate Advisory Proprietary        BMO Capital Markets Limited 
Limited                                       Office: [phone] 
Office: + 27 (0) 11 011 9200 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 12, 2022 02:00 ET (06:00 GMT)