Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

 Information  X 
Enter a valid email address

Pan African Resources PLC (PAF)

  Print      Mail a friend       Annual reports

Friday 21 August, 2009

Pan African Resources PLC

Further Share Exchange by PAF re Shanduka/Barbe...

Regulatory Announcement                                                        

                           Pan African Resources plc                           

  (Incorporated and registered in England and Wales under Companies Act 1985   

              with registered number 3937466 on 25 February 2000)              

                            Share code on AIM: PAF                             

                            Share code on JSE: PAN                             

                              ISIN: GB0004300496                               

                       ("Pan African" or "the Company")                        

Announcement regarding the:

  * Share exchange by Pan African for Shanduka Gold (Proprietary) Limited's
    (`Shanduka Gold') 26% shareholding in Barberton Mines (Proprietary) Limited
    (`Barberton Mines');
  * Disposal by Metorex Limited (`Metorex') of its remaining stake in Pan
  * Changes to the Board of Directors of Pan African and Barberton Mines; and
  * Change of Sponsor
 1. Transactions become unconditional
Shareholders of Pan African ("Shareholders") are referred to the following

  * the announcement dated 19 June 2009 regarding the share exchange by Pan
    African for Shanduka Gold's 26% shareholding in Barberton Mines; and
  * the announcement dated 26 June 2009 regarding the disposal by Metorex of
    its remaining stake in Pan African (collectively "the Transactions").
The Directors of the Company, having consulted with RBC Capital Markets,
consider that the share exchange with Shanduka Gold is fair and reasonable
insofar as all Shareholders are concerned and Shareholders are further advised
that all other outstanding conditions precedent to the Transactions have now
been fulfilled or waived, save for admission to trading on AIM and the
Alternative Exchange of the JSE Limited of the 295,751,549 new ordinary shares
issued and allotted to Shanduka Gold in respect of the share exchange for the
stake in Barberton Mines. Admission is anticipated to take place on or about 28
August 2009, following which the Transactions will be unconditional in all

 2. Changes to the board of directors of Pan African
As a result of the Transactions, Shareholders are advised of the following
proposed changes to the Company's board of directors. These are to be confirmed
by the board:

  * Mr. Cyril Ramaphosa, Executive Chairman of Shanduka Group (Proprietary)
    Limited ("Shanduka Group"), will be appointed as non-executive chairman to
    the Pan African board.
  * Accordingly, Mr. Keith Spencer will continue on the Pan African board as
    independent, non-executive deputy chairman.
  * Mr. Rowan Smith from Shanduka Group will be appointed as a non-executive
    director of the Pan African board.
  * Mr. Maritz Smith, previously a representative of Metorex, has resigned with
    immediate effect as the Financial Director. Mr. Cobus Loots will replace
    him as Financial Director and join the board of Pan African after the board
    meeting but will assume all responsibility for the Company's financial
    matters forthwith.
  * John Hopwood, Rob Still and Jan Nelson remain members of the board.
 3. Changes to the board of directors of Barberton Mines
Shareholders are advised of the following changes to the board of directors of
Barberton Mines, effective from today's date:

  * Mr. Keith Spencer has been appointed as independent, non-executive chairman
    of the Barberton Mines board.
  * Ms. Thandeka Ncube from Shanduka Group has been appointed to the Barberton
    Mines board and will head up transformation initiatives.
  * Recently appointed Executive: Mining Operations, Mr. Mario Gericke has been
    appointed to the Barberton Mines board.
  * Mr. Cobus Loots has been appointed to the Barberton Mines board.
  * Mr. Charles Needham, Mr. Cyril Ramaphosa and Mr. Rowan Smith have resigned
    from the Barberton Mines board.
  * Mr. Jan Nelson remains a member of the Barberton Mines board.
 4. Change of sponsor
Shareholders are advised that Barnard Jacobs Mellet Corporate Finance
(Proprietary) Limited has been appointed as the Company's JSE Limited sponsor
with immediate effect.

Jan Nelson, CEO of Pan African commented, "The finalisation of the Shanduka
transaction will be earnings accretive to Pan African, and ensures the company
is fully empowered and well positioned to take advantage of South African
growth opportunities.  In addition, the bolstering of our boards will assist in
steering Pan African in its strategic aim to be a low-cost, high-margin, cash
flow positive gold mining company. I look forward to growing our business with
the new board members."


21 August 2009

Sponsor and Corporate Advisor

Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited

For further information on Pan African Resources plc, please visit the website


Pan African Resources

Jan Nelson, CEO

+27 (0) 11 243 2900

Nicole Spruijt, Public Relations

+27 (0) 11 243 2900

RBC Capital Markets

Martin Eales

+44 (0) 20 7029 7881

Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited

Natalie Di-Sante

+27 (0) 11 750 0207

Sholto Simpson

+27 (0) 11 750 0213

St James's Corporate Services Limited

Phil Dexter

+44 (0) 20 7499 3916

FD Beachhead Media & Investor Relations

Jennifer Cohen

+27 (0) 11 214 2401

Louise Brugman

+27 (0) 11 214 2415

+27 (0) 83 504 1186