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Pan African Resources PLC Transaction in own shares

Published: 2022-05-09 09:01:07 ET

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 TRANSACTION IN OWN SHARES

Pan African, the South African gold producer, announces that on 6 May 2022, in accordance with the
terms of its share buyback programme announced on 1 April 2022 (the “Programme”) it purchased
the following number of ordinary shares of £0.01 each in the Company (“Ordinary Shares”) through
Peel Hunt LLP (“Peel Hunt”) and RMB Morgan Stanley (“RMBMS”). The shares purchased will be
cancelled.

 Date of purchases                                                                      6 May 2022

 Aggregate number of Ordinary Shares purchased                                            2,675,817

 London Stock Exchange (“LSE”) purchases
 Number of Ordinary Shares purchased on LSE                                               1,603,508
 Lowest price paid per share (pence per share):                                              22.095
 Highest price paid per share (pence per share):                                              22.24
 Volume weighted average price paid per share (pence per share):                          22.12817

 Johannesburg Stock Exchange (“JSE”) purchases
 Number of Ordinary Shares purchased on JSE                                               1,072,309
 Lowest price paid per share (ZAr per share):                                                435.00
 Highest price paid per share (ZAr per share):                                               424.00
 Volume weighted average price paid per share (ZAr per share):                               431.16


Following the purchase, the Company will have 2,223,207,520 Ordinary Shares of £0.01 each in issue,
of which 306,358,058 Ordinary Shares are held in treasury.

The above figure of 2,223,207,520 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.

In accordance with Article 5(1)(b) of the UK version of Regulation (EU) No. 596/2014 which is part of
UK law by virtue of the European Union (Withdrawal) Act 2018, the tables below contain detailed
information of the individual trades made by Peel Hunt as part of the Programme. The same
information is also included for the trades made by RMBMS.

Individual transactions on LSE:




                                                                                                   1
      Number of shares            Transaction price   Time of transaction   Execution venue
           purchased              (pence per share)
              250,000                         22.12             14:05:13               LSE
              323,717                         22.24             14:37:42               LSE
            1,029,791                       22.095              14:52:27               LSE


Individual transactions on JSE:

      Number of shares      Transaction price (ZAr    Time of transaction   Execution venue
           purchased                   per share)
               29,463                      433.00               09:07:11                JSE
                 3,327                     432.00               09:19:40                JSE
                 6,800                     432.00               09:19:40                JSE
                 5,010                     431.00               09:23:59                JSE
               18,697                      429.00               09:23:59                JSE
                 1,398                     429.00               09:23:59                JSE
               10,314                      428.00               09:28:01                JSE
                   101                     428.00               09:28:01                JSE
                 7,500                     425.00               09:45:10                JSE
                 2,550                     425.00               09:45:10                JSE
                 6,430                     425.00               09:50:02                JSE
                 1,904                     425.00               09:50:02                JSE
                 6,445                     430.00               10:00:24                JSE
               13,849                      430.00               10:00:24                JSE
                 1,266                     430.00               10:03:47                JSE
               10,000                      430.00               10:03:47                JSE
                 5,000                     426.00               10:04:17                JSE
                 4,781                     426.00               10:04:18                JSE
                 8,934                     430.00               10:13:19                JSE
                 2,887                     430.00               10:13:19                JSE
               11,497                      428.00               10:18:52                JSE
               11,737                      428.00               10:24:06                JSE
                 8,600                     430.00               10:29:25                JSE
                 3,301                     430.00               10:29:25                JSE
                 2,442                     430.00               10:35:19                JSE
                 3,530                     430.00               10:35:19                JSE
                 5,500                     430.00               10:35:19                JSE
               10,075                      427.00               10:46:13                JSE
               11,449                      427.00               10:46:22                JSE
                 9,209                     424.00               10:51:33                JSE
                 5,796                     424.00               10:56:08                JSE
                 5,739                     424.00               10:56:08                JSE
                 5,004                     424.00               11:02:02                JSE
                 6,007                     424.00               11:02:02                JSE
               12,776                      427.00               11:31:36                JSE
               10,300                      427.00               11:31:36                JSE
                 2,297                     426.00               11:31:36                JSE
                 5,285                     428.00               11:33:20                JSE
               25,630                      428.00               11:33:20                JSE

                                                                                              2
12,247   430.00   11:52:59   JSE
21,911   430.00   11:52:59   JSE
    89   430.00   11:55:40   JSE
 9,835   430.00   11:57:40   JSE
10,480   428.00   12:00:21   JSE
 8,867   431.00   12:35:05   JSE
 1,847   431.00   12:35:05   JSE
42,304   431.00   12:35:05   JSE
10,108   431.00   12:36:14   JSE
11,246   431.00   12:41:51   JSE
10,515   431.00   12:48:04   JSE
11,812   431.00   12:53:44   JSE
11,822   431.00   13:00:24   JSE
   101   431.00   13:00:24   JSE
11,234   431.00   13:06:40   JSE
11,354   430.00   13:12:34   JSE
10,785   430.00   13:18:36   JSE
10,572   430.00   13:24:10   JSE
 1,822   430.00   13:29:41   JSE
 8,602   430.00   13:29:41   JSE
11,090   430.00   13:39:49   JSE
10,237   430.00   13:45:25   JSE
10,100   431.00   13:50:43   JSE
11,946   430.00   13:55:48   JSE
11,294   430.00   14:01:49   JSE
11,235   430.00   14:07:42   JSE
 1,103   432.00   14:12:58   JSE
 4,271   432.00   14:12:58   JSE
 5,000   432.00   14:12:58   JSE
   150   430.00   14:21:24   JSE
 1,917   432.00   14:30:40   JSE
31,800   432.00   14:30:40   JSE
 3,512   432.00   14:33:28   JSE
 7,636   432.00   14:33:28   JSE
10,348   432.00   14:38:15   JSE
 5,612   433.00   14:44:32   JSE
 5,672   433.00   14:44:32   JSE
10,173   435.00   14:48:33   JSE
 2,164   433.00   14:51:46   JSE
18,068   433.00   14:51:46   JSE
10,180   433.00   14:51:46   JSE
 7,317   433.00   15:04:10   JSE
11,084   435.00   15:08:06   JSE
30,388   433.00   15:16:25   JSE
 6,577   434.00   15:39:47   JSE
11,074   434.00   15:39:47   JSE
 3,948   434.00   15:41:00   JSE
 5,044   434.00   15:41:00   JSE
 5,206   434.00   15:41:00   JSE
10,108   431.00   15:51:11   JSE

                                   3
                     10,278                   431.00                   15:51:11                       JSE
                     10,347                   431.00                   15:51:11                       JSE
                     10,076                   431.00                   15:51:11                       JSE
                      4,540                   431.00                   16:05:00                       JSE
                     15,088                   431.00                   16:05:00                       JSE
                      3,408                   431.00                   16:06:13                       JSE
                      6,800                   431.00                   16:06:13                       JSE
                      8,240                   431.00                   16:08:32                       JSE
                      5,000                   431.00                   16:16:08                       JSE
                     53,875                   435.00                   16:28:45                       JSE
                     55,555                   435.00                   16:28:45                       JSE
                      9,911                   435.00                   16:39:26                       JSE
                     11,230                   435.00                   16:40:48                       JSE
                     47,916                   434.00                   16:41:49                       JSE
                     24,094                   434.00                   16:41:49                       JSE
                      1,314                   433.00                   16:48:27                       JSE


   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

   9 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 2900                            Office: + 27 (0) 11 243 2900

Head: Investor relations                                Website: www.panafricanresources.com


                                                                                                            4
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 Limited   BMO Capital Markets Limited

Office: + 27 (0) 11 011 9200                     Office: +44 (0) 20 7236 1010




                                                                                      5

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.