19th Nov 2010 13:30
19 November 2010 Pan African Resources PLC (`Pan African' or the `Company')
Incorporated and registered in England and Wales under Companies Act 1985 with
registered number 3937466 on 25 February 2000 AIM: PAF/JSE: PAN ISIN: GB0004300496
HOLDING IN COMPANY & DIRECTORS' DEALINGS
The Company was notified on 17 and 18 November 2010 that Pangea Exploration (Pty) Limited ("Pangea") had sold 567,126 ordinary shares of 1 pence each in the Company ("Shares") at an average price of ZAR1.1914 per Share and 1,021,071 Shares at a price of ZAR1.1901 per Share respectively, for a total consideration of ZAR1,890,826.03. Pangea's remaining holding in Pan African after the sale is 42,288,408 Shares, representing 2.93% of the issued share capital of the Company.
Mr Robert Still, a non-executive director of the Company, is also a director ofPangea and a trustee of a family trust which owns 33.33% of Pangea. Mr Stillis therefore deemed to have an indirect, non-beneficial interest in Pangea'sholding in the Company. EnquiriesSouth Africa UK Pan African RBC Capital Markets
Jan Nelson, Chief Executive Officer Martin Eales / Brett Jacobs
+27 (0) 11 243 2900 +44 (0) 20 7653 4000
Macquarie First South Advisers (Pty) Ltd St James's Corporate Services
Limited Melanie de Nysschen / Yvette Labuschagne / Annerie Britz Phil Dexter +27 (0) 11 583 2000 +44 (0) 20 7499 3916 Vestor Media & Investor Relations Hansard Communications Louise Brugman Justine James +27 (0) 11 787 3015 +44 (0) 20 7245 1100 / +44 (0) 7525 324431
vendorRelated Shares:
Pan African Resources