IN BRIEF: Tembo sells GBP23 million stake in Pan African Resources
Pan African Resources PLC - Rosebank-headquartered gold producer - Tembo Capital Holdings Guernsey Ltd sells entire 2.5% stake in Pan African Resources. Tembo sells 58.8 million shares at 39 pence each, worth GBP22.9 million, in a placing run by Joh Berenberg, Gossler & Co KG and BMO Capital Markets Ltd as joint bookrunners. The Tembo disposal is of existing shares, so Pan African Resources will receive no funds from the sale. Read More