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Fri 12 Feb 2010, 15:53 PAN - Pan African Resources Plc - Notification of major interest in shares
PAN
PAN                                                                             
PAN - Pan African Resources Plc - Notification of major interest in shares      
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`)                                                
Pan African received the following notification yesterday,                      
Thursday, 11 February 2010:-                                                    
QUOTE                                                                           
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                  
1    Identity of the issuer or the underlying issuer of existing shares to which
    voting rights are attached:                                                 
    Pan African Resources plc                                                   
2    Reason for the notification (please tick the appropriate box or boxes):    
-    An acquisition or disposal of voting rights  (Yes)                         
-    An acquisition or disposal of qualifying financial instruments which may   
    result in the acquisition of shares already issued to which voting rights   
are attached   (No)                                                         
-    An acquisition or disposal of instruments with similar economic effect to  
    qualifying financial instruments   (No)                                     
-    An event changing the breakdown of voting rights  (No)                     
-    Other (please specify):  N/A                                               
3    Full name of person(s) subject to the notification obligation:             
    Investec Asset Management Limited                                           
4    Full name of shareholder(s) (if different from 3):                         
N/A                                                                         
5    Date of the transaction and date on which the threshold is crossed or      
    reached:                                                                    
    10 February 2010                                                            
6    Date on which issuer notified:                                             
    11 February 2010                                                            
7    Threshold(s) that is/are crossed or reached:                               
    11%                                                                         
8    Notified details:                                                          
A. Voting rights attached to shares                                             
 Class / type of shares if     Situation previous to the Triggering             
 possible using the ISIN CODE  transaction                                      
Number of shares   Number of voting rights       
                                                                                
 Ordinary shares of 1p each    153,898,928        153,898,928                   
 GB0004300496                                                                   
Resulting situation after the triggering transaction                           
 Number of    Number of voting        % of voting rights                        
 shares       rights                                                            
 Direct       Direct     Indirect     Direct       Indirect                     
-            -          155,898,928  -            11.07%                       
B. Qualifying Financial Instruments                                             
 Type of      Expiration    Exercise /      Number of       % of voting         
 financial    date          Conversion      voting rights   rights              
instrument                 Period / Date   that may                            
                                            acquired if                         
                                            the instrument                      
                                            is exercised /                      
converted                           
 -            -             -               -               -                   
C. Financial Instruments with similar economic effect to Qualifying Financial   
Instruments                                                                     
Type of      Exercise     Expiration   Exercise      Number of    % of         
 financial    price        date         conversion    voting       voting       
 instrument                             period        rights       rights       
                                                      instruments               
refers to                 
                                                         Nominal     Delta      
 -          -          -           -          -          -           -          
Total (A+B+C)                                                                   
Number of voting rights      % of voting rights                                 
155,898,928                  11.07%                                             
9    Chain of controlled undertakings through which the voting rights and/or the
    financial instruments are effectively held, if applicable:                  
N/A                                                                         
    Proxy voting                                                                
10   Name of the proxy holder:                                                  
    N/A                                                                         
11   Number of voting rights proxy holder will cease to hold:                   
    N/A                                                                         
12   Date on which proxy holder will cease to hold voting rights:               
    N/A                                                                         
13   Additional information:                                                    
    N/A                                                                         
14   Contact name:                                                              
    Ian Gartshore                                                               
15   Contact telephone number:                                                  
    020 7597 1825                                                               
UNQUOTE                                                                         
12 February 2010                                                                
Sponsor: Macquarie First South Advisers (Pty) Limited                           
For further information on Pan African, 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                                                  
Melanie de Nysschen/Thembeka Mgoduso   +27 (0) 11 583 2000                      
                                                                                
St James`s Corporate Services Limited                                           
Phil Dexter                            +44 (0) 20 7499 3916                     
Date: 12/02/2010 15:53:02 Produced by the JSE SENS Department.                  
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