24th May 2013 15:30
PAN AFRICAN RESOURCES PLC - Director/PDMR Shareholding/Issue of EquityPAN AFRICAN RESOURCES PLC - Director/PDMR Shareholding/Issue of Equity
PR Newswire
London, May 24
Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 withregistered number 3937466 on 25 February 2000)
AIM Code: PAF JSE Code: PAN ISIN: GB0004300496("Pan African" or "the Company")
DEALING IN SECURITIES
The Company was notified on 24 May 2013 of the following dealing in respect ofthe Company's ordinary shares of 1 pence each ("Shares"):
Name of individual: KC Spencer
Company of which he is a director: Pan African Resources PLC
Nature of transaction: Exercise of options granted in 2008 in terms of theCompany's share option plan
Date of transaction: 24 May 2013
Number of shares: 1,500,000
Price per ordinary share: ZAR0.83 ("Strike Price")
Value of transaction: ZAR1,245,000
Class of shares: Shares
Interest of director: Indirect beneficial
Clearance obtained: Yes
On-market or off-market: Off-market
Further to this exercise of options by Mr Spencer, the Company has issued1,500,000 Shares at the Strike Price for a total consideration of ZAR1,245,000to Mr Spencer's family trust - Strode Trust. Following this issue of Shares,the total issued share capital of the Company comprises 1,822,834,263 Shares.
Mr Spencer's total indirect beneficial interest in Pan African after theexercise of options is 1,500,000 Shares, representing 0.08% of the issued sharecapital of the Company.
Application will be made to the AIM market of the London Stock Exchange ("AIM")and to the exchange operated by JSE Limited ("JSE") for 1,500,000 Shares to beadmitted to trading on AIM and for listing on the JSE, with admission totrading and listing on both markets expected to occur on 31 May 2013.
Johannesburg 24 May 2013 JSE Sponsor One Capital PAN AFRICAN ENQUIRIES UK South Africa Pan African Resources Canaccord Genuity Limited - Nomad and Joint BrokerMr Cobus Loots Andrew Chubb / Peter Stewart / Joe Weaving Non-executive director and JointInterim Chief Executive Officer +44 (0) 20 7523 8350 +27 (0) 11 305 8900 Mr Ron Holding Chief Operating Officer and JointInterim Chief Executive Officer +27 (0) 11 243 2900 One Capital finnCap Limited - Joint Broker Sholto Simpson / Megan Young Elizabeth Johnson / Joanna Weaving +27 (0) 11 550 5000 +44 (0) 20 7220 0500 Vestor Investor Relations St James's Corporate Services Limited Louise Brugman Phil Dexter +27 (0) 11 787 3015 +44 (0) 20 7499 3916 +27 83 504 1186 Gable Communications Justine James +44 (0) 20 7193 7463 / +44 (0) 7525 324431For further information on Pan African, please visit the website atwww.panafricanresources.com
Related Shares:
Pan African Resources