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PAN
PAN
PAN - Pan African Resources plc - Wage negotiations concluded at
Barberton Mines
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`)
Wage Negotiations Concluded at Barberton Mines
Pan African announces that it has successfully negotiated with the
National Union of Mineworkers (`NUM`) on wages and other conditions of
employment for the 2011/2012 financial year.
The one-year agreement has been concluded with employees represented
by the NUM and amounts to an average increase of 11% across the board.
The NUM employees will furthermore receive an increase to their
housing allowance from ZAR1,100 per month to ZAR1,300 per month.
These increases are effective from 1 July 2011.
Pan African is not a member of the Chamber of Mines and as it has
successfully concluded the wage negotiations will not be affected by
any strike action by the NUM.
Johannesburg
27 July 2011
JSE Sponsor
Macquarie First South Advisers (Pty) Limited
For further information on Pan African, please visit the website at
www.panafricanresources.com
Enquiries:
South Africa UK
Pan African RBC Capital Markets
Jan Nelson, Chief Executive Martin Eales
Officer +44 (0) 20 7029 7881
+27 (0) 11 243 2900
Pan African St James`s Corporate Services
Nicole Spruijt, Public Limited
Relations Phil Dexter
+27 (0) 11 243 2900 +44 (0) 20 7499 3916
Macquarie First South Advisers Gable Communications
(Pty) Ltd Justine James
Melanie de Nysschen/ Annerie +44 (0)20 7193 7463
Britz/ Yvette Labuschagne
+27 (0) 11 583 2000
Date: 27/07/2011 09:45:00 Produced by the JSE SENS Department.
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