29th Feb 2008 14:00
Regulatory Announcement Company Pan African Resources plc TIDM PAF Headline Directors Dealings: Issue of Equity Released 29 February 2008 Pan African Resources plc
(Incorporated and registered in England and Wales under Companies Act 1985 with
registration number 3937466 on 25 February 2000) Share code on AIM: PAF ISIN: GB0004300496 Share code on JSE: PAN ("Pan African" or the "Company") Issue of Equity Directors Dealings
Pan African announces that as a result of an exercise of share options by Mr Jan Nelson, the Company's Chief Executive Officer, the Company issued 12,000,000 ordinary shares of 1p each (`Shares') on 28 February 2008 at a price of 2p per Share.
Application has been made to the AIM Market of the London Stock Exchange (`AIM') and the Alternative Exchange of the JSE Limited (`Altx') for 12,000,000 Shares to be admitted to trading on AIM and listed on Altx (`Admission'). Admission is expected to occur on 7 March 2008.
Mr Nelson also notified the Company that on 28 February 2008 he placed 9,000,000 Shares at a price of 6p per Share with an institutional investor with the proceeds raised partly to pay for the tax arising on the disposal and the cost of exercise.
Mr Nelson has retained the residual 3,000,000 Shares and has further options to acquire 6,000,000 Shares.
Ends
For further information please contact:
Pan African Ambrian Partners Macquarie First St James's Resources Limited South Corporate Corporate Services Finance (Pty) Limited Jan Nelson, CEO Richard Brown Limited Phil Dexter
+27 (0) 11 777 7840 +44 (0) 20 7776 Amanda Markman 6417 +44 (0) 20 7499 Keith Spencer, +27 (0) 11 343 2307 3916 Chairman Richard Greenfield Donĩ Hattingh FDBeachhead Media &+27 (0) 11 880 3155 +44 (0) 20 7776 Investor Relations
6418 +27 (0) 11 343 2308 Nicole Stoyell Jennifer Cohen Public Relations +27 (0) 11 214 2401 +27 (0) 11 777 7840 Louise Brugman +27 (0) 11 214 2415
For further information on Pan African Resources plc, please visit the website at www.panafricanresources.com
London, United Kingdom29 February 2008Sponsor in South Africa
Macquarie First South Corporate Finance (Pty) Ltd
PAN AFRICAN RESOURCES PLCRelated Shares:
Pan African Resources