Pan African Resources Plc - Registration of Capital Reduction and Effective Date

Pan African Resources Plc - Registration of Capital Reduction and Effective Date

PR Newswire

LONDON, United Kingdom, July 19

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 Funding Company Limited Incorporated in the Republic of South Africa with limited liability Registration number: 2012/021237/06 Alpha code: PARI

REGISTRATION OF CAPITAL REDUCTION AND EFFECTIVE DATE

The Company is pleased to announce that, further to the announcement on 10 June 2024, confirming the passing of the resolution at the general meeting of the Company to approve the cancellation of the Company’s share premium account (the “Capital Reduction Resolution”), the reduction of capital (“Capital Reduction”) has now become effective.

 

Following the passing of this resolution, formal approval by the High Court of Justice (the "Court") of the Capital Reduction was granted on 2 July 2024. The Court order confirming the Capital Reduction and statement of capital approved by the Court, was registered with the Registrar of Companies on 18 July 2024, and therefore the Capital Reduction became effective on this date.  

 

Details of the Capital Reduction, the purpose of which was to create distributable reserves and to enable the Company to address certain historic dividends issues, were more particularly set out in the Company's notice of general meeting, published by the Company on 24 May 2024, a copy of which is available on the Company’s website.

 

Following the Capital Reduction, the Company’s net asset value and  number of ordinary shares of 2,222,862,046 in issue (including 306,358,058 shares held in treasury) remains unchanged.

 

Rosebank

19 July 2024

For further information on Pan African, please visit the Company's website at

www.panafricanresources.com

Corporate information
Corporate office The Firs Building 2nd Floor, Office 204 Cnr. Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office: + 27 (0)11 243 2900 [e-mail]	Registered office 2nd Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0)20 3869 0706 [e-mail]
Chief executive officer  Cobus Loots      Office: + 27 (0)11 243 2900	Financial director and debt officer Deon Louw      Office: + 27 (0)11 243 2900
Head: Investor relations Hethen Hira Tel: + 27 (0)11 243 2900 E-mail: [e-mail]	Website: www.panafricanresources.com
Company secretary Jane Kirton St James's Corporate Services Limited Office: + 44 (0)20 3869 0706	Nominated adviser and joint broker Ross Allister/Georgia Langoulant Peel Hunt LLP Office: [phone]
JSE Sponsor and JSE debt sponsor Ciska Kloppers Questco Corporate Advisory Proprietary Limited Office: + 27 (0)11 011 9200	Joint broker Thomas Rider/Nick Macann BMO Capital Markets Limited Office: [phone]
	Joint broker Matthew Armitt/Jennifer Lee Joh. Berenberg, Gossler & Co KG Office: [phone]

 

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