| Thu 3 Feb 2011, 16:00 | | 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 Pound Sterling ("GBP"). The earnings
per share for the six months ended 31 December 2010, denominated in GBP, is
expected to be between 53 per cent and 63 per cent higher than those for the
previous corresponding period (six months ended 31 December 2009: 0.34 pence
per share). Earnings per share, calculated in South African Rand ("ZAR"),
using the average ZAR:GBP exchange rate of 11.18 that prevailed for the six
months ended 31 December 2010, is expected to be between 36 per cent and 46
per cent higher than those for the previous corresponding period (six months
ended 31 December 2009: 4.21 cents per share at an average ZAR:GBP exchange
rate of 12.48).
Headline earnings per share for the six months ended 31 December 2010,
denominated in GBP, is expected to be between 41 per cent and 51 per cent
higher than those for the previous corresponding period (six months ended 31
December 2009: 0.36 pence per share). Headline earnings calculated in ZAR is
expected to be between 26 per cent and 36 per cent higher than those for the
previous corresponding period (six months ended 31 December 2009: 4.54 cents
per share).
The financial information for the six months ended 31 December 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 unaudited
results for the six months ended 31 December 2010 will be released on 22
February 2011.
For further information on Pan African Resources plc, please visit the
website at www.panafricanresources.com
Johannesburg
3 February 2011
JSE Sponsor:
Macquarie First South Advisers (Pty) Limited
Enquiries:
South Africa United Kingdom
Pan African RBC Capital Markets
Jan Nelson, Chief Executive Officer Martin Eales
+27 (0) 11 243 2900 +44 (0) 20 7029 7881
Pan African St James`s Corporate Services
Nicole Spruijt, Public Relations Limited
+27 (0) 11 243 2900 Phil Dexter
+44 (0) 20 7499 3916
Macquarie First South Advisers (Pty)
Limited
Melanie de Nysschen/
Annerie Britz/ Yvette Labuschagne
+27 (0) 11 583 2000
Date: 03/02/2011 16:00:01 Produced by the JSE SENS Department.
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