| Thu 14 Oct 2010, 8:00 | | PAN - Pan African Resources Plc - Director`s Dealings |
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PAN
PAN
PAN - Pan African Resources Plc - Director`s Dealings
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`)
DIRECTOR`S DEALINGS
Pan African announces that on 6 October 2010, Mr Jan Nelson, the Company`s Chief
Executive Officer, was issued with 6,000,000 ordinary shares of 1p each
("Shares") at a price of 2p per share, for a total consideration of GBP120,000,
following the exercise of share options ("Exercise").
Application will be made today, 14 October 2010, to the AIM market of the London
Stock Exchange ("AIM") and to the Main Board of JSE Limited ("JSE") for
6,000,000 shares to be admitted to trading on AIM and for listing on the JSE,
with Admission to trading and listing on both markets expected to occur on 20
October 2010.
To assist with the payment of tax arising on the disposal and the cost of
exercise, Mr Nelson on 12 October 2010 sold 2,500,000 Pan African shares on
market at an average price of 8.75p per share for a total consideration of
GBP218,750 ("Disposal").
The Exercise and Disposal was made under clearance given by a special resolution
of the board of directors of Pan African.
Following the Exercise and the Disposal, Mr Nelson holds 3,622,442 shares in the
Company, representing 0.26% of the total issued share capital of 1,419,540,711
shares.
For further information on Pan African Resources, please visit the website at
www.panafricanresources.com
Rosebank
14 October 2010
JSE Sponsor
MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED
Enquiries
South Africa UK
Pan African RBC Capital Markets
Jan Nelson, Chief Executive Officer Martin Eales / Brett Jacobs
+27 (0) 11 243 2900 +44 (0) 20 7653 4000
Macquarie First South Advisers (Pty) St James`s Corporate Services
Limited Limited
Melanie de Nysschen / Yvette Labuschagne Phil Dexter
+27 (0) 11 583 2000 +44 (0) 20 7499 3916
Hansard Communications
Justine James
+44 (0) 20 7245 1100 / +44 (0) 7525
324431
Date: 14/10/2010 08:00:01 Produced by the JSE SENS Department.
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