Salient Dividend Dates

Pan African Resources PLC

(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)

AIM Code: PAF

JSE Code: PAN

ISIN: GB0004300496

("Pan African" or the “Company” or the “Group”)

SALIENT DIVIDEND DATES

Shareholders are referred to the Group’s results that were released on 21 September 2016, wherein an exchange rate of South African Rand (“ZAR”) to the British Pound (“GBP”), ZAR/GBP: 18.7500 was used for illustrative purposes to convert the proposed ZAR dividend of ZAR0.15438 per share into GBP.

Shareholders are advised that, should the proposed dividend be approved at the Annual General Meeting of the Company scheduled for Friday, 25 November 2016, the exchange rate for conversion of the ZAR dividend into GBP will be a fixed exchange rate of ZAR/GBP: 17.5787.

Assuming the final dividend is approved by shareholders, the following salient dates would apply:

	2016
Currency conversion date	11 October, Wednesday
Last date to trade on the exchanges	06 December, Tuesday
Ex-Dividend date on the JSE	07 December, Wednesday
Ex-Dividend date on the LSE	08 December, Thursday
Record date	09 December, Friday
Payment date	22 December, Thursday

1. No transfers between the Johannesburg and London registers between the commencement of trading on Monday, 5 December 2016 and close of business on Friday, 9 December 2016 will be permitted.
2. No shares may be dematerialised or rematerialised between Wednesday, 7 December 2016 and Friday, 9 December 2016, both days inclusive.

The proposed final dividend was calculated on 1,943,206,554 shares in issue and an exchange rate of ZAR/GBP: 17.5787, which translates to a final dividend of 0.87822 pence per share, which is a 6.7% increment on the illustrative dividend per share of 0.82338 pence per share referred to in the Group’s results announcement.

The South African dividends tax rate is fifteen percent per ordinary share and therefore shareholders who are liable to pay the dividends tax will receive a net dividend of ZAR0.13122 cents per share (0.74649 pence per share). Foreign investors may qualify for a lower dividend tax rate, subject to completing a dividend tax declaration and submitting it to Computershare Limited or Capita Plc who manage the SA and UK register, respectively. The Company's South African income tax reference number is 9154588173.

Johannesburg

13 October 2016

CONTACT INFORMATION

Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa

Office:   + 27 (0) 11 243 2900
Facsimile: + 27 (0) 11 880 1240

Registered Office

Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom

Office:   + 44 (0) 207 796 8644
Facsimile: + 44 (0) 207 796 8645

Cobus Loots	Deon Louw
Pan African Resources PLC	Pan African Resources PLC
Chief Executive Officer	Financial Director
Office: + 27 (0) 11 243 2900	Office: + 27 (0) 11 243 2900

Phil Dexter	John Prior / Paul Gillam
St James's Corporate Services Limited	Numis Securities Limited
Company Secretary	Nominated Adviser and Joint Broker
Office: + 44 (0) 207 796 8644	Office: [phone]

Sholto Simpson	Matthew Armitt / Ross Allister
One Capital	Peel Hunt LLP
JSE Sponsor	Joint Broker
Office: + 27 (0) 11 550 5009	Office: [phone]

Julian Gwillim	Daniel Thöle
Aprio Strategic Communications	Bell Pottinger PR
Public & Investor Relations SA	Public & Investor Relations UK
Office: [phone]	Office: + 44 (0) 203 772 2500

Jeffrey Couch/Neil Haycock/Thomas Rider
BMO Capital Markets Limited
Joint Broker

Office: [phone]
http://www.panafricanresources.com/