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PAN
PAN
PAN - Pan African Resources Plc - Directors dealings
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")
Issue of Equity
Directors Dealings
Pan African announces that as a result of an exercise of share options by Mr Jan
Nelson, the Company`s Chief Executive Officer, the Company issued 12,000,000
ordinary shares of 1p each ("Shares") on 28 February 2008 at a price of 2p per
Share.
Application has been made to the AIM Market of the London Stock Exchange ("AIM")
and the Alternative Exchange of the JSE Limited ("AltX") for 12,000,000 Shares
to be admitted to trading on AIM and listed on AltX ("Admission"). Admission is
expected to occur on 7 March 2008.
Mr Nelson also notified the Company that on 28 February 2008 he placed 9,000,000
Shares at a price of 6p per Share with an institutional investor with the
proceeds raised partly to pay for the tax arising on the disposal and the cost
of exercise.
Mr Nelson has retained the residual 3,000,000 Shares and has further options to
acquire 6,000,000 Shares.
Ends
For further information please contact:
Pan African Resources
Jan Nelson, CEO
+27 (0) 11 777 7840
Keith Spencer, Chairman
+27 (0) 11 880 3155
Nicole Stoyell
Public Relations
+27 (0) 11 777 7840
Ambrian Partners Limited
Richard Brown
+44 (0) 20 7776 6417
Richard Greenfield
+44 (0) 20 7776 6418
Macquarie First South Corporate Finance (Pty) Limited
Amanda Markman
+27 (0) 11 343 2307
Done Hattingh
+27 (0) 11 343 2308
St James`s Corporate Services Limited
Phil Dexter
+44 (0) 20 7499 3916
FDBeachhead Media & Investor Relations
Jennifer Cohen
+27 (0) 11 214 2401
Louise Brugman
+27 (0) 11 214 2415
For further information on Pan African Resources plc, please visit the website
at www.panafricanresources.com
London, United Kingdom
29 February 2008
Sponsor in South Africa
Macquarie First South Corporate Finance (Pty) Ltd
Date: 29/02/2008 16:14:01 Produced by the JSE SENS Department.
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