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Pan African Resources Plc (PAF)

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Tuesday 12 April, 2022

Pan African Resources Plc

Transaction in Own Shares

Pan African Resources PLC

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

Share code on AIM: PAF

Share code on JSE: PAN

ISIN: GB0004300496

ADR ticker code: PAFRY

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

PAN AFRICAN RESOURCES PLC TRANSACTION IN OWN SHARES

Pan African, the South African gold producer, announces that on 11 April 2022, in accordance with the terms of its share buyback programme announced on 1 April 2022 (the “Programme”) it purchased the following number of ordinary shares of £0.01 each in the Company (“Ordinary Shares”) through Peel Hunt LLP (“Peel Hunt”) and RMB Morgan Stanley (“RMBMS”). The shares purchased will be cancelled.

Date of purchases 11 April 2022
Aggregate number of Ordinary Shares purchased 1,184,922
London Stock Exchange (“LSE”) purchases
Number of Ordinary Shares purchased on LSE 341,350
Lowest price paid per share (pence per share): 22.2
Highest price paid per share (pence per share): 22.2
Volume weighted average price paid per share (pence per share): 22.2
Johannesburg Stock Exchange (“JSE”) purchases
Number of Ordinary Shares purchased on JSE 843,572
Lowest price paid per share (ZAr per share): 417.0
Highest price paid per share (ZAr per share): 425.0
Volume weighted average price paid per share (ZAr per share): 422.1

Following the purchase, the Company will have 2,233,083,624 Ordinary Shares of £0.01 each in issue, of which 306,358,058 Ordinary Shares are held in treasury.

The above figure of 2,233,083,624 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of the UK version of Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, the tables below contain detailed information of the individual trades made by Peel Hunt as part of the Programme. The same information is also included for the trades made by RMBMS.

Individual transactions on LSE:

Number of shares purchased Transaction price (pence per share) Time of transaction Execution venue
341,350 22.2 15:32:00 LSE

Individual transactions on JSE:

Number of shares purchased Transaction price (ZAr per share) Time of transaction Execution venue
6,282 425.00 13:47:31 JSE
7,241 425.00 13:47:31 JSE
6,310 425.00 13:47:31 JSE
3,536 425.00 13:47:31 JSE
6,993 424.00 13:47:33 JSE
4,506 421.00 13:54:13 JSE
4,249 424.00 14:00:42 JSE
7,697 423.00 14:04:02 JSE
3,684 423.00 14:04:02 JSE
7,636 423.00 14:09:28 JSE
4,415 423.00 14:09:28 JSE
7,549 423.00 14:09:28 JSE
18,984 425.00 15:47:44 JSE
19,508 425.00 15:47:44 JSE
20,807 425.00 15:47:44 JSE
18,196 425.00 15:47:44 JSE
6,027 425.00 15:49:17 JSE
16,242 425.00 15:51:28 JSE
21,808 424.00 15:52:16 JSE
7,615 423.00 15:53:33 JSE
17,297 422.00 15:53:46 JSE
4,716 421.00 15:54:51 JSE
6,930 420.00 15:56:29 JSE
43,408 422.00 16:00:57 JSE
29,113 421.00 16:02:54 JSE
21,965 420.00 16:04:15 JSE
15,980 422.00 16:04:24 JSE
3,762 421.00 16:04:48 JSE
4,682 421.00 16:06:05 JSE
8,675 423.00 16:15:57 JSE
3,574 423.00 16:15:57 JSE
13,063 423.00 16:15:57 JSE
1,144 423.00 16:15:57 JSE
12,249 423.00 16:15:57 JSE
8,262 423.00 16:15:57 JSE
4,085 423.00 16:15:57 JSE
10,000 423.00 16:15:57 JSE
10,275 422.00 16:16:08 JSE
4,465 422.00 16:16:08 JSE
4,039 422.00 16:16:08 JSE
4,693 422.00 16:16:08 JSE
31,067 421.00 16:16:11 JSE
2,656 421.00 16:16:11 JSE
2,434 421.00 16:16:12 JSE
2,237 421.00 16:16:12 JSE
14,503 420.00 16:17:38 JSE
3,546 420.00 16:26:18 JSE
3,996 420.00 16:26:45 JSE
3,576 420.00 16:26:58 JSE
3,846 420.00 16:27:12 JSE
4,055 420.00 16:27:32 JSE
3,467 420.00 16:27:50 JSE
3,657 420.00 16:28:04 JSE
4,079 420.00 16:28:33 JSE
3,843 420.00 16:28:41 JSE
3,526 420.00 16:28:56 JSE
3,569 420.00 16:29:12 JSE
4,203 420.00 16:29:28 JSE
3,896 420.00 16:29:58 JSE
4,181 420.00 16:30:10 JSE
3,546 420.00 16:30:24 JSE
4,181 422.00 16:30:44 JSE
3,826 420.00 16:30:57 JSE
28,154 419.00 16:31:09 JSE
27,252 419.00 16:31:09 JSE
27,027 419.00 16:31:09 JSE
22,452 419.00 16:31:09 JSE
27,577 419.00 16:31:09 JSE
4,061 418.00 16:31:24 JSE
3,477 417.00 16:31:45 JSE
7,056 423.00 16:37:21 JSE
7,733 424.00 16:48:26 JSE
11,600 424.00 16:49:32 JSE
15,000 424.00 16:49:32 JSE
7,162 424.00 16:49:32 JSE
10,000 424.00 16:49:39 JSE
1,233 424.00 16:49:39 JSE
10,000 424.00 16:49:39 JSE
18,576 424.00 16:49:40 JSE
23,936 424.00 16:49:51 JSE
10,825 424.00 16:49:51 JSE
3,379 424.00 16:49:51 JSE
12,520 424.00 16:49:51 JSE
15,000 424.00 16:49:51 JSE

The information contained in this update is the responsibility of the Pan African board of directors and has not been reviewed or reported on by the Group’s external auditors.

Rosebank

12 April 2022

For further information on Pan African, please visit the Company's website at

www.panafricanresources.com

Corporate information
Corporate office
The Firs Office Building
2nd Floor, Office 204
Corner Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office:  + 27 (0) 11 243 2900
[email protected]
Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office: + 44 (0) 20 7796 8644
Chief executive officer
Cobus Loots 
Office: + 27 (0) 11 243 2900 
Financial director
Deon Louw
Office: + 27 (0) 11 243 2900
Head: Investor relations
Hethen Hira
Tel: + 27 (0)11 243 2900
E-mail: [email protected]
Website: www.panafricanresources.com
Company secretary
Phil Dexter/Jane Kirton
St James's Corporate Services Limited
Office: + 44 (0) 20 7796 8644
Nominated Adviser and Joint Broker
Ross Allister/Alexander Allen
Peel Hunt LLP
Office: +44 (0) 20 7418 8900
JSE Sponsor
Ciska Kloppers
Questco Corporate Advisory Proprietary Limited
Office: + 27 (0) 11 011 9200
Joint Broker
Thomas Rider/Nick Macann
BMO Capital Markets Limited
Office: +44 (0) 20 7236 1010

a d v e r t i s e m e n t