PAN AFRICAN RESOURCES PLC - The Pan African ZAR703 million rights offer becomes unconditional

The Pan African ZAR703 million rights offer becomes unconditional

                                      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
                     ISIN for Nil Paid Rights: GB00B85FJG40 (JSE Code: PANN)
                              ISIN for Fully Paid Rights: GB00B8RCBP62
                                      (“Pan African” or “Company”)

      THE PAN AFRICAN ZAR703 MILLION RIGHTS OFFER BECOMES UNCONDITIONAL


Pan African shareholders (“Shareholders”) are referred to the announcement published on the Stock
Exchange News Service today regarding the results of general meeting, an update regarding the
acquisition of Evander Gold Mines Limited (“Evander”), the rights offer finalisation announcement and
the results of the general meeting held on Friday, 30 November 2012.

Full details of the rights offer are provided in a document to Shareholders, which comprises a
prospectus in accordance with the Financial Services and Markets Act. 2000 in the United Kingdom
and a pre-listing statement in terms of the JSE Limited (“JSE”) Listings Requirements (“Listings
Requirements”) (“Document”) is expected to be published shortly. Copies of the Document shall be
posted to Shareholders on or about 3 December 2012.

Further to the Document, and in compliance with the Listings Requirements, details of the unaudited
pro forma financial information of the Evander acquisition and the rights offer prepared in accordance
with the Listings Requirements have been included in a document referred to as the SA Wrapper. The
SA Wrapper should be read in conjunction with the Document, but does not form part of the
Document. The JSE has approved the contents of the SA Wrapper while the UK Listing Authority has
not itself examined or approved the contents of the SA Wrapper.

Copies of the SA Wrapper shall be posted to Shareholders with addresses outside of the United
Kingdom, and the European Economic Area on or about 3 December 2012. The SA Wrapper will also
be available on the Company’s website www.panafricanresources.com and copies thereof will be
available at the Company’s corporate office, Office 101, First Floor, The Firs, Corner of Cradock and
Biermann Avenue, Rosebank 2196.

3 December 2012

Sole Bookrunner, Corporate Adviser and JSE Transaction Sponsor to the Rights Offer

One Capital

Independent Sponsor to the Rights Offer

Nedbank Capital



Enquiries

South Africa                                        UK

Pan African Resources                               Canaccord Genuity Limited – Nomad and Joint Broker
Jan Nelson, Chief Executive Officer                 Rob Collins / Peter Stewart / Sebastian Jones / Joe
+27 (0) 11 243 2900                                 Weaving
                                                    +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

Date: 03/12/2012 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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