PAN AFRICAN RESOURCES PLC - Pan African to commence trading on OTCQX Market in the United States

Pan African to commence trading on OTCQX Market in the United States

Pan African Resources PLC
(Incorporated and registered in England and Wales under 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")


PAN AFRICAN TO COMMENCE TRADING ON OTCQX MARKET IN THE UNITED STATES

Pan African is pleased to announce that the Company’s American Depository Receipt (“ADR”)
programme has been upgraded and approved to trade on the OTCQX Best Market (“OTCQX Market”)
in the United States of America (“US”), with effect from 23 October 2020.

Pan African’s CEO, Cobus Loots said: “We are pleased to be admitted to the OTCQX Market, which is
the highest tier of the OTC market. To qualify, Pan African has complied with the OTCQX Market
requirements including high financial standards, corporate governance requirements, and
compliance with applicable securities laws. Trading on the OTCQX Market will significantly enhance
our visibility and provide better access to US investors”.

The Company was sponsored for OTCQX trade by MCAP LLC, a qualified third-party firm responsible
for providing guidance on OTCQX requirements and recommending membership. Pan African is
upgrading to the OTCQX Market from the Pink Over-the-Counter market and the ticker symbol
(PAFRY) remains unchanged.

The OTCQX Market is the premier tier of the US Over-the-Counter market that is operated by OTC
Markets Group Inc. (OTCQX:OTCM). OTCQX is a trading market designed for established, investor-
focused US and international companies. Current financial disclosures and Real-Time Level 2 quotes
for Pan African are available at www.otcmarkets.com.


Rosebank
23 October 2020



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

Contact information

Corporate Office                                 Registered Office

The Firs Office Building                         Suite 31

2nd Floor, Office 204                            Second Floor

Cnr. 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

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/Jane Kirton                          Ross Allister/David McKeown

St James's Corporate Services Limited            Peel Hunt LLP

Company Secretary                                Nominated Adviser and Joint Broker

Office: + 44 (0)20 7796 8644                     Office: +44 (0)20 7418 8900

Ciska Kloppers                                   Thomas Rider/Neil Elliot

Questco Corporate Advisory Proprietary Limited   BMO Capital Markets Limited

JSE Sponsor                                      Joint Broker

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

Hethen Hira                                      Website: www.panafricanresources.com
Pan African Resources PLC
Head: Investor Relations
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za

Date: 23-10-2020 08:00:00
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