| Wed 27 Jan 2010, 13:00 | | PAN - Pan African Resources Plc - Trading update |
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PAN
PAN
PAN - Pan African Resources Plc - Trading update
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`)
TRADING UPDATE
In terms of paragraph 3.4(b) of the Listings Requirements of JSE Limited, a
listed company is required to publish a trading statement as soon as it is
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported on next, will differ by at least 20 per
cent from those of the previous corresponding period.
The company advises shareholders as follows:
Pan African is incorporated in England and Wales under Companies Act 1985 and
accordingly its presentation currency is Great British Pounds ("GBP"). The
earnings per share for the six months ended 31 December 2009, denominated in
GBP, is expected to be between 45 per cent and 50 per cent higher than those
for the previous corresponding period (six months ended 31 December 2008: 0.23
pence per share). Earnings per share, calculated in South African Rand
("ZAR"), using the average ZAR:GBP exchange rate of ZAR12.48 prevailing during
the period (six months ended 31 December 2008 average exchange rate of
ZAR15.13), is expected to be between 17 per cent and 22 per cent higher than
those for the previous corresponding period (six months ended 31 December
2008: 3.53 cents per share).
Headline earnings per share for the six months ended 31 December 2009,
denominated in GBP, is expected to be between 1 per cent and 6 per cent higher
than those for the previous corresponding period (six months ended 31 December
2008: 0.36 pence per share). Headline earnings calculated in ZAR is expected
to be between 13 per cent and 18 per cent lower than those for the six months
ended 31 December 2008 (six months ended 31 December 2008: 5.37 cents per
share).
The financial information for the six months ended 31 December 2009 and
contained in this trading update has neither been reviewed nor reported on by
the company`s auditors. It is anticipated that the interim results for the
six months ended 31 December 2009 will be released on Wednesday, 10 February
2010.
Rosebank
27 January 2010
JSE Sponsor and Corporate Adviser
Macquarie First South Advisers (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
Macquarie First South Advisers (Proprietary) Limited
Melanie de Nysschen / Thembeka Mgoduso
+27 (0) 11 583 2000
St James`s Corporate Services Limited
Phil Dexter
+44 (0) 20 7499 3916
Date: 27/01/2010 13:00:04 Produced by the JSE SENS Department.
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