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TR-1: Standard form for notification of major holdings
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 or the Group)
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word
format if possible)i
1a. Identity of the issuer or the underlying issuer of
Pan African Resources plc
existing shares to which voting rights are attachedii:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name Ruffer LLP
City and country of registered office (if applicable) London, United Kingdom
4. Full name of shareholder(s) (if different from 3.)v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or
9 October 2020
reachedvi:
6. Date on which issuer notified (DD/MM/YYYY): 13 October 2020
7. Total positions of person(s) subject to the notification obligation
% of voting rights
% of voting rights through financial Total number of
Total of both in %
attached to shares instruments voting rights of
(8.A + 8.B)
(total of 8. A) (total of 8.B 1 + 8.B issuervii
2)
Resulting situation
on the date on
which threshold Less than 5% 0% Less than 5% 2,234,687,537
was crossed or
reached
Position of
previous
5% N/A 5%
notification (if
applicable)
8. Notified details of the resulting situation on the date on which the threshold was crossed or
reachedviii
A: Voting rights attached to shares
Class/type of Number of voting rightsix % of voting rights
shares Direct Indirect Direct Indirect
ISIN code (if (Art 9 of Directive (Art 10 of (Art 9 of Directive (Art 10 of
possible) 2004/109/EC) Directive 2004/109/EC) Directive
(DTR5.1) 2004/109/EC) (DTR5.1) 2004/109/EC)
(DTR5.2.1) (DTR5.2.1)
GB0004300496 111,650,179 0 Less than 5% 0%
SUBTOTAL 8. A 111,650,179 Less than 5%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Number of voting
rights that may be
Type of financial Expiration Exercise/
acquired if the % of voting rights
instrument datex Conversion Periodxi
instrument is
exercised/converted.
N/A N/A N/A N/A N/A
SUBTOTAL 8. B 1 N/A N/A
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive
2004/109/EC (DTR5.3.1.1 (b))
Type of Exercise/ Physical or
Expiration Number of
financial x Conversion cash % of voting rights
date xi xii voting rights
instrument Period settlement
N/A N/A N/A N/A N/A N/A
SUBTOTAL N/A
N/A
8.B.2
9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity
and does not control any other undertaking(s) holding directly or indirectly an interest in the X
(underlying) issuerxiii
Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or
legal entityxiv (please add additional rows as necessary)
% of voting rights
% of voting rights if it through financial Total of both if it equals
Name xv equals or is higher than instruments if it equals or is higher than the
the notifiable threshold or is higher than the notifiable threshold
notifiable threshold
N/A N/A N/A N/A
10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held N/A
The date until which the voting rights will be held N/A
11. Additional informationxvi
Ruffer LLP now controls the voting rights over 111,650,179 shares (less than 5% of the voting rights) of Pan
African Resources plc which are held by the discretionary clients of Ruffer LLP and its subsidiaries (the
voting of which is all controlled by Ruffer LLP).
This change from 5% to less than 5% is due to a sale of 773,612 shares by Ruffer LLP on 9 October 2020.
Place of completion Ruffer LLP
Date of completion 13/10/2020
Rosebank
13 October 2020
JSE Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 13-10-2020 04:00:00
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