| Wed 25 Aug 2010, 12:00 | | PAN - Pan African Resources plc - Revised Trading Update |
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PAN
PAN
PAN - Pan African Resources plc - Revised 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`)
REVISED TRADING UPDATE
Shareholders are referred to the trading update released on Monday, 28 June
2010 ("Trading Update"). Shareholders were advised that in terms of
paragraph 3.4(b) of the Listings Requirements of the JSE, 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 that due to higher than forecast gold sales at the end
of June 2010, and a lower than expected average ZAR:GBP exchange rate, the
expected earnings per share and headline earnings per share have been
adjusted as follows:
Earnings per share for the financial year ended 30 June 2010, denominated
in pounds sterling ("GBP"), is expected to be between 159 and 162 per cent
higher than those for the previous corresponding period (2009: 0.4 pence
per share). Earnings per share, calculated in South African Rand ("ZAR"),
as well as headline earnings calculated in GBP and ZAR, are expected to
remain within the ranges previously indicated.
The financial information for the financial year ending 30 June 2010 and
contained in this trading update has neither been reviewed nor reported on
by the Company`s auditors. It is anticipated that the Company`s audited
results for the financial year ending 30 June 2010 will be released on 31
August 2010.
For further information on Pan African Resources plc, please visit the
website at www.panafricanresources.com
Rosebank
25 August 2010
JSE Sponsor
MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED
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 /Brett Jacobs +44 (0) 20 7029 7881
Macquarie First South Advisers
Melanie de Nysschen +27 (0) 11 583 2000
St James`s Corporate Services Limited
Phil Dexter +44 (0) 20 7499 3916
Hansard Communications +44 (0) 20 7245 1100
Justine James
Date: 25/08/2010 12:00:02 Produced by the JSE SENS Department.
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