PAN AFRICAN RESOURCES PLC - Fulfilment of all conditions precedent to the sale of Phoenix Platinum Mining Proprietary Limited

Fulfilment of all conditions precedent to the sale of Phoenix Platinum Mining Proprietary Limited

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”)

FULFILMENT OF ALL CONDITIONS PRECEDENT TO THE SALE OF PHOENIX
PLATINUM MINING PROPRIETARY LIMITED (“PHOENIX PLATINUM”)

Further to the announcement published on 31 July 2017, Pan African is pleased to announce
that all conditions precedent to the disposal of 100% of the shares and loan accounts in
Phoenix Platinum to Sylvania Platinum Limited (“Transaction”) have now been fulfilled.

This follows, amongst other conditions, the approval of the Transaction by the South African
Competition Authorities in accordance with the Competition Act, No. 89 of 1998.

The effective date of the Transaction is 6 November 2017, following the cash settlement of
the Transaction consideration of R89 million or approximately US$6.3 million.


By order of the Board

Johannesburg
7 November 2017

Contact information

Corporate Office                               Registered Office
The Firs Office Building                       Suite 31
1st Floor, Office 101                          Second Floor
Cnr. Cradock and Biermann Avenues              107 Cheapside
Rosebank, Johannesburg                         London
South Africa                                   EC2V 6DN
Office: + 27 (0) 11 243 2900                   United Kingdom
Facsimile: + 27 (0) 11 880 1240                Office: + 44 (0) 207 796 8644
                                               Facsimile: + 44 (0) 207 796 8645

Cobus Loots                                    Deon Louw
Pan African Resources PLC                      Pan African Resources PLC
Chief Executive Officer                        Financial Director
Office: + 27 (0) 11 243 2900                   Office: + 27 (0) 11 243 2900

Phil Dexter                                    John Prior / Paul Gillam
St James's Corporate Services Limited          Numis Securities Limited
Company Secretary                              Nominated Adviser, Joint Broker
Office: + 44 (0) 207 796 8644                  Office: +44 (0) 20 7260 1000

Sholto Simpson                                 Ross Allister / Chris Burrows
One Capital                                    Peel Hunt LLP
JSE Sponsor                                    Joint Broker
Office: + 27 (0) 11 550 5009                   Office: +44 (0) 207 418 8900

Jeffrey Couch/Neil Haycock/Thomas Rider        Bobby Morse/Chris Judd
BMO Capital Markets Limited                    Buchanan Communications
Joint Broker                                   Public & Investor Relations UK
Office: +44 (0) 207 236 1010                   Office: + 44 (0) 207 466 5000

Julian Gwillim
Aprio Strategic Communications
Public & Investor Relations SA
Office: +27 (0)11 880 0037


www.panafricanresources.com

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