| Mon 8 Oct 2007, 8:15 | | PAN - Pan African - Directorship Changes |
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PAN
PAN
PAN - Pan African - Directorship Changes
Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 with
registration number 3937466 on 25 February 2000)
Share code on AIM: PAF & ISIN: GB0004300496
Share code on JSE: PAN
("Pan African" or the "Company")
Regulatory Announcement
Directorship Changes
The Board of Directors announces the resignation of Mr. Colin Bird as Non-
Executive Chairman and the appointment of Mr. Keith Cousens Spencer as Executive
Chairman effective 8 October 2007.
Pan African`s recent transformation from a junior gold explorer to a mid-tier
gold producer and explorer, following the acquisition of 74% in Barberton Mines
from Metorex Limited, has resulted in the requirement for an Executive Chairman.
Mr. Bird could not, as a result of other business commitments, serve in an
executive position and has decided to resign to allow for this position to be
filled in line with the Company`s current and future requirements.
The Company wishes to thank Mr. Bird for the tremendous impact he has had in the
growth of the company over the past three years. Mr Bird remains a significant
shareholder in the Company.
Mr. Spencer (58) is a qualified mining engineer with 34 years of practical
mining experience. In 1984, Mr. Spencer was appointed as General Manager of
Greenside Colliery and in 1986 moved to Kloof Gold Mine as General Manager. In
1989, Mr. Spencer was appointed as Consulting Engineer for Gold Fields of South
Africa to the following mines: Doornfontein Gold Mine, Driefontein Consolidated
Gold Mine, Greenside Colliery and Tsumeb Base Metals mine. He also served as
Managing Director of Driefontein Consolidated, Chairman and Managing Director of
Deelkraal Gold Mine, and as a Board Member of all Gold Mines belonging to Gold
Fields of South Africa. In 1999, Mr. Spencer joined Metorex Limited first as a
private consultant and after 2 years as a permanent member of the executive
managing the Wakefield Coal operations, O`okiep Copper Company, Barberton Gold
Mines, and Metmin Manganese Mine. In 2001, Mr. Spencer became the Operations
Director for the Metorex Group. Mr. Spencer has managed some of the largest gold
mines in the world and this expertise will now be available to the Pan African
team.
Jan Nelson, Chief Executive Officer of Pan African commented on the recent
changes: "The Company, and particularly myself, are indebted to Mr. Bird for the
service he has provided to Pan African over the last three years. The Company
is however, delighted to welcome Mr. Spencer whose considerable experience and
expertise will be critical to the future development and growth of the Company"
The details of all current and past directorships within the last five years for
Mr. Spencer are as follows:
Current Directorships: Past Directorships:
Barberton Mines (Pty) Ltd Bankfontein Properties
Metorex Limited Leeuwfontein Myne (EDMS) BPK
Wakefield Investments (Pty)
Ltd
The Company advises that there are no further details relating to the
appointment of Mr. Spencer which it is obliged to disclose under Schedule Two
paragraph (g) of the AIM Rules.
ENDS
For further information on Pan African Resources plc, please visit the website
at www.panafricanresources.com
Enquiries:
Pan African Ambrian Partners Macquarie First St. James`s
Resources Limited South Corporate Corporate
Finance (Pty) Services Limited
Limited
Jan Nelson CEO Richard Brown Amanda Markman Phil Dexter
+27 (0) 11 777 +44 (0) 20 7776 +27 (0) 11 343 2307 +44 (20) 7499
7840 6417 3916
Done Hattingh
Keith Spencer Richard Greenfield +27 (0) 11 343 2308
Executive +44 (0) 20 7776
Chairman 6418
+27 (0) 11 880
3155
Nicole Stoyell
Public
Relations
+27 (0) 11 777
7840
Date: 08/10/2007 08:15:31 Produced by the JSE SENS Department.
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