20th Feb 2015 09:06
LONDON (Alliance News) - Pan African Resources PLC Friday said it is to appoint Deon Louw as its finance director, with the company moving to replace Cobus Loots, who has moved up to chief executive.
Louw, a South African qualified chartered accountant, was most recently the finance director of JSE-listed mining services group Sentula Mining Ltd, a position he held from 2007 to 2014.
He was also previously the head of structured resource finance at Investec Bank Ltd.
"The board welcomes Deon and we wish him well in his new role. We are confident that his extensive experience in the South African mining sector will add value to the Pan African business," Chairman Keith Spencer said in a statement.
Both Loots and Louw will begin in their new roles from March 1.
Pan African Resources shares were untraded at 11.75 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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