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PAN
PAN
PAN - Pan African - 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")
ANNOUNCEMENT
Shareholders are referred to the announcement dated 21 May 2009 regarding the
acquisition by Pan African of 100% of Phoenix Platinum (Proprietary) Limited
from Metorex Limited ("Metorex") for a cash consideration of ZAR 71,250,000
("the Transaction Consideration").
Shareholders are referred to the payment terms of the Transaction Consideration,
as set out in the above announcement, and are advised that Pan African is
pleased to announce that the outstanding balance of ZAR 12,089,536 of the
Transaction Consideration will be paid to Metorex on 30 September 2009.
Johannesburg
30 September 2009
JSE Sponsor and Corporate Advisor
Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited
For further information on Pan African Resources plc, please visit the website
at www.panafricanresources.com
Enquiries:
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
Date: 30/09/2009 09:35:01 Produced by the JSE SENS Department.
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