PAN AFRICAN RESOURCES PLC - Dealing in securities

Dealing in securities

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”)

DEALING IN SECURITIES


The Company was notified on 24 May 2013 of the following dealing in respect of the Company’s
ordinary shares of 1 pence each (“Shares”):

Name of individual:                               KC Spencer
Company of which he is a director:                Pan African Resources PLC
Nature of transaction:                            Exercise of options granted in 2008 in terms of the
                                                  Company’s share option plan
Date of transaction:                              24 May 2013
Number of shares:                                 1,500,000
Price per ordinary share:                         ZAR0.83 (“Strike Price”)
Value of transaction:                             ZAR1,245,000
Class of shares:                                  Shares
Interest of director:                             Indirect beneficial
Clearance obtained:                               Yes
On-market or off-market:                          Off-market

Further to this exercise of options by Mr Spencer, the Company has issued 1,500,000 Shares at the
Strike Price for a total consideration of ZAR1,245,000 to Mr Spencer’s family trust – Strode Trust.
Following this issue of Shares, the total issued share capital of the Company comprises
1,822,834,263 Shares.

Mr Spencer’s total indirect beneficial interest in Pan African after the exercise of options is 1,500,000
Shares, representing 0.08% of the issued share capital of the Company.

Application will be made to the AIM market of the London Stock Exchange (“AIM”) and to the
exchange operated by JSE Limited (“JSE”) for 1,500,000 Shares to be admitted to trading on AIM and
for listing on the JSE, with admission to trading and listing on both markets expected to occur on
31 May 2013.

Johannesburg
24 May 2013

JSE Sponsor
One Capital

PAN AFRICAN ENQUIRIES




South Africa                                          UK
Pan African Resources                             Canaccord Genuity Limited – Nomad and Joint Broker

Mr Cobus Loots                                    Andrew Chubb / Peter Stewart / Joe Weaving

Non-executive director and Joint Interim Chief +44 (0) 20 7523 8350
Executive Officer

+27 (0) 11 305 8900

Mr Ron Holding

Chief Operating Officer and Joint Interim Chief
Executive Officer

+27 (0) 11 243 2900




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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