Holding(s) in Company

For filings with the FSA include the annex                                                                       
                                                                                                                 
For filings with issuer exclude the annex                                                                        
                                                                                                                 
                                                                                                                 
                                                                                                                 
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                                                  
                                                                                                                 
                                                                                                                 
                                                                                                                 
1. Identity of the issuer or the underlying issuer                                                               
of existing shares to which voting rights are                            Pan African Resources Plc               
attached:ii                                                                                                      
                                                                                                                 
2 Reason for the notification (please tick the appropriate box or boxes):                                        
                                                                                                                 
An acquisition or disposal of voting rights                                                                      
                                                                                                                 
An acquisition or disposal of qualifying financial instruments which may result                                  
in the acquisition of shares already issued to which voting rights are attached                                  
                                                                                                                 
An acquisition or disposal of instruments with similar economic effect to                                        
qualifying financial instruments                                                                                 
                                                                                                                 
An event changing the breakdown of voting rights                                                                 
                                                                                                                 
Other (please            Holding over 10% threshold                                                       x      
specify):                                                                                                        
                                                                                                                 
3. Full name of person(s) subject to the                    Coronation Asset Management (Pty) Ltd                
notification obligation:iii                                                                                      
                                                                                                                 
4. Full name of shareholder(s)                                                                                   
 (if different from 3.):iv                                                                                       
                                                                                                                 
5. Date of the transaction and date on                                                                           
which the threshold is crossed or                                        2 July 2013                             
reached: v                                                                                                       
                                                                                                                 
6. Date on which issuer notified:                                        4 July 2013                             
                                                                                                                 
7. Threshold(s) that is/are crossed or                             Crossed 10% holding limit                     
reached or below: vi, vii                                                                                        
                                                                                                                 
8. Notified details:                                                                                             
                                                                                                                 
A: Voting rights attached to shares viii, ix                                                                     
                                                                                                                 
Class/type   Situation previous               Resulting situation after the triggering transaction               
of           to the triggering                                                                                   
shares       transaction                                                                                         
                                                                                                                 
             Number            Number         Number                  Number of voting            % of  voting   
if possible  of                of             of shares               rights                      rights x       
using        Shares            Voting                                                                            
the ISIN                       Rights         Direct                  Direct xi         Indirect  Direct Indirect     
CODE                                                                                    xii                      
                                                                                                                 
ISIN                                                                                                             
             181 948 477       181 948 477    182 538 434             182 538 434                 10.01%              
GB0004300496                                                                                                     
                                                                                                                 
                                                                                                                 
                                                                                                                 
B: Qualifying Financial Instruments                                                                              
                                                                                                                 
Resulting situation after the triggering transaction                                                             
                                                                                                                 
Type of financial          Expiration Exercise/                        Number of voting               % of voting   
instrument                         Conversion Period xiv            rights that may be             rights        
                           date                                     acquired if the                              
                           xiii                                     instrument is                                
                                                                    exercised/ converted.                        
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
C: Financial Instruments with similar economic effect to Qualifying Financial                                    
Instruments xv, xvi                                                                                              
                                                                                                                 
Resulting situation after the triggering transaction                                                             
                                                                                                                 
Type of financial  Exercise  Expiration Exercise/                 Number of voting           % of voting rights  
instrument         price     date       Conversion period xviii   rights instrument          xix, xx             
                             xvii                                 refers to                                      
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                             Nominal Delta       
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
Total (A+B+C)                                                                                                    
                                                                                                                 
Number of voting rights                                   Percentage of voting rights                            
                                                                                                                 
182 538 434                                               10.01%                                                 
                                                                                                                 
9. Chain of controlled undertakings through which the voting rights and/or the                                   
financial instruments are effectively held, if applicable: xxi                                                   
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
Proxy Voting:                                                                                                    
                                                                                                                 
10. Name of the proxy holder:                                                      Coronation Asset Management   
                                                                                                     (Pty) Ltd   
                                                                                                                 
11. Number of voting rights proxy holder will cease                                                              
to hold:                                                                                                         
                                                                                                                 
12. Date on which proxy holder will cease to hold                                                                
voting rights:                                                                                                   
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
13. Additional information:                                                                                      
                                                                                                                 
14. Contact name:                                                         Leeza Myburgh                          
                                                                                                                 
15. Contact telephone number:                                            [phone]                         
                                                                                                                 
Note: Annex should only be submitted to the FSA not the issuer                                                   
                                                                                                                 
Annex: Notification of major interests in sharesxxii                                                             
                                                                                                                 
                                                                                                                 
                                                                                                                 
A: Identity of the persons or legal entity subject to the notification                                           
obligation                                                                                                       
                                                                                                                 
Full name                                                                                                        
                                                                                                                 
(including legal form of legal entities)                  Coronation Asset Management (Pty) Ltd                  
                                                                                                                 
                                                                                                                 
                                                                                                                 
Contact address                                                                                                  
                                                          7th Floor, Montclare Place, Corner of                  
(registered office for legal entities)                    Campground and Main Roads, Claremont, South            
                                                          Africa, 7708                                           
                                                                                                                 
                                                                                                                 
Phone number & email                                                                                             
                                                          [phone], [e-mail]             
                                                                                                                 
                                                                                                                 
Other useful information                                                                                         
                                                          Coronation Asset Management (Pty) Limited as           
(at least legal representative for legal persons)         investment manager acts of behalf of various           
                                                          clients holding PAN in their portfolios                
                                                                                                                 
                                                                                                                 
                                                                                                                 
                                                                                                                 
B: Identity of the notifier, if applicable                                                                       
                                                                                                                 
Full name                                                                                                        
                                                          Leeza Myburgh                                          
                                                                                                                 
                                                                                                                 
Contact address                                           7th Floor, Montclare Place, Corner of                  
                                                          Campground and Main Roads, Claremont, South            
                                                          Africa, 7708                                           
                                                                                                                 
Phone number & email                                                                                             
                                                          [phone], [e-mail]             
                                                                                                                 
                                                                                                                 
Other useful information                                                                                         
                                                          Compliance Officer of Coronation Asset                 
(e.g. functional relationship with the person or          Management (Pty) Limited                               
legal entity subject to the notification                                                                         
obligation)                                                                                                      
                                                                                                                 
                                                                                                                 
                                                                                                                 
C: Additional information                                                                                        
                                                                                                                 
                                                                                                                 
                                                                                                                 
For notes on how to complete form TR-1 please see the FSA website.