PAN AFRICAN RESOURCES PLC - TR-1: Notification of Major Interest in Shares

TR-1: Notification of Major Interest in Shares

                                    Pan African Resources PLC
   (Incorporated and registered in England and Wales under Companies Act 1985 with registered
                              number 3937466 on 25 February 2000)
                                           AIM Code: PAF
                                           JSE Code: PAN
                                        ISIN: GB0004300496
                                 ("Pan African" or “the Company”)


TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES


Pan African received the following notification on Friday, 22 February 2013:

“1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:
Pan African Resources Plc

2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights: Yes
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of
shares already issued to which voting rights are attached: No
An acquisition or disposal of instruments with similar economic effect to qualifying financial
instruments: No
An event changing the breakdown of voting rights: No
Other (please specify): N/A

3. Full name of person(s) subject to the
notification obligation:
Shanduka Gold (Pty) Ltd

4. Full name of shareholder(s) (if different from 3.):
N/A

5. Date of the transaction and date on
which the threshold is crossed or
reached:
11 January 2013

6. Date on which issuer notified:
22 February 2013

7. Threshold(s) that is/are crossed or
reached:
24.00%

8. Notified details:
A: Voting rights attached to shares
Class/type of shares                       Situation previous to the triggering
if possible using the ISIN CODE            transaction
                          Number of Shares      Number of Voting Rights

Ordinary 1p                       366,168,585              366,168,585
GB0004300496

Resulting situation after the triggering transaction
Number of         Number of voting                % of voting
Shares            rights                          rights
Direct            Direct        Indirect          Direct          Indirect
436,358,059       436,358,059      N/A            23.96%          N/A

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial         Expiration        Exercise/Conversion   Number of voting      % of
instrument                date              Period                rights that may be    voting
                                                                  acquired if the       rights
                                                                  instrument is
                                                                  exercised/converted

N/A                      N/A               N/A                    N/A                   N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial         Exercise          Expiration Exercise/     Number         % of
instrument                price             Date       Conversion    of voting      voting
                                                       Period        rights         rights
                                                                     instrument
                                                                     refers to
N/A                       N/A               N/A        N/A           N/A            N/A


Total (A+B+C)
Number of voting rights                    Percentage of voting rights
436,358,059                                23.96%


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

N/A

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease
to hold:

N/A

12. Date on which proxy holder will cease to hold
voting rights:

N/A


13. Additional information:

Acquisition of shares pursuant to rights offer

14. Contact name:
Cobus Loots: Managing Director

15. Contact telephone number:

Tel: +27 11 305 8900

Fax: +27 11 305 8912

cloots@shanduka.co.za”



25 February 2013

JSE Sponsor
One Capital




 PAN AFRICAN ENQUIRIES


 South Africa                              UK

 Pan African Resources                    Canaccord Genuity Limited – Nomad and Joint Broker


 Jan Nelson, Chief Executive Officer      Andrew Chubb / Peter Stewart / Sebastian Jones / Joe Weaving


 +27 (0) 11 243 2900                      +44 (0) 20 7523 8350



 One Capital                              finnCap Limited – Joint Broker


 Sholto Simpson / Megan Young             Elizabeth Johnson / Joanna Weaving


 +27 (0) 11 550 5000                      +44 (0) 20 7220 0500
 Vestor Investor Relations                St James’s Corporate Services Limited


 Louise Brugman                           Phil Dexter


 +27 (0) 11 787 3015                      +44 (0) 20 7499 3916


 +27 83 504 1186
                                          Gable Communications


                                          Justine James

                                          +44 (0) 20 7193 7463 / +44 (0) 7525 324431


 For further information on Pan African, please visit the website at www.panafricanresources.com

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