Pan African Resources Plc Completion of Phase 1 of Share Buyback
May 12 2022 - 1:00AM
UK Regulatory
TIDMPAF
Pan African Resources PLC
(Incorporated and registered in England and Wales under the Companies Act 1985
with registered number 3937466 on 25 February 2000)
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
ADR ticker code: PAFRY
("Pan African" or the "Company" or the "Group")
PAN AFRICAN RESOURCES PLC COMPLETION OF PHASE 1 OF SHARE BUYBACK
Pan African, the South African gold producer, is pleased to announce that Phase
1 of the Company's share buyback programme ("the Programme"), as announced on 1
April 2022, has been completed.
Under the Programme, between 1 April and 9 May 2022, the Company has
repurchased in aggregate 11,825,491 ordinary shares of £0.01 pence each in the
Company ("Ordinary Shares") for a total consideration of ZAR 50.3 million
(approximately £2.55 million). A total of 7,568,744 Ordinary Shares have been
bought back on the London Stock Exchange at a volume weighted average price of
21.67 pence per share. A total of 4,256,747 Ordinary Shares have been bought
back on the Johannesburg Stock Exchange at a volume weighted average price of
418.21 South African cents per share.
All shares purchased under the Programme have been cancelled.
The Company therefore has 2,222,862,046 ordinary shares of £0.01 each in issue,
of which 306,358,058 ordinary shares are held in treasury. The above figure of
2,222,862,046 may be used by shareholders as the denominator for calculating
whether they are required to notify their interest in, or a change to their
interest in the Company under the FCA's Disclosure Guidance and Transparency
Rules.
The information contained in this update is the responsibility of the Pan
African board of directors and has not been reviewed or reported on by the
Group's external auditors.
Rosebank
12 May 2022
For further information on Pan African, please visit the Company's website at
www.panafricanresources.com
Corporate information
Corporate office Registered Office
The Firs Office Building Suite 31
2nd Floor, Office 204 Second Floor
Corner Cradock and Biermann Avenues 107 Cheapside
Rosebank, Johannesburg London
South Africa EC2V 6DN
Office: + 27 (0) 11 243 2900 United Kingdom
info@paf.co.za Office: + 44 (0) 20 7796 8644
Chief executive officer Financial director
Cobus Loots Deon Louw
Office: + 27 (0) 11 243 Office: + 27 (0) 11 243 2900
2900
Head: Investor relations Website: www.panafricanresources.com
Hethen Hira
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za
Company secretary Nominated Adviser and Joint Broker
Phil Dexter/Jane Kirton Ross Allister/Alexander Allen
St James's Corporate Services Limited Peel Hunt LLP
Office: + 44 (0) 20 7796 8644 Office: +44 (0) 20 7418 8900
JSE Sponsor Joint Broker
Ciska Kloppers Thomas Rider/Nick Macann
Questco Corporate Advisory Proprietary BMO Capital Markets Limited
Limited Office: +44 (0) 20 7236 1010
Office: + 27 (0) 11 011 9200
END
(END) Dow Jones Newswires
May 12, 2022 02:00 ET (06:00 GMT)
Pan African Resources (LSE:PAF)
Historical Stock Chart
From Apr 2024 to May 2024
Pan African Resources (LSE:PAF)
Historical Stock Chart
From May 2023 to May 2024