PAN - Pan African - Announcement

PAN - Pan African - Announcement                                                
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                                                              
("Pan African")                                                                 
ANNOUNCEMENT                                                                    
Shareholders are referred to the announcement dated 21 May 2009 regarding the   
acquisition by Pan African of 100% of Phoenix Platinum (Proprietary) Limited    
from Metorex Limited ("Metorex") for a cash consideration of ZAR 71,250,000     
("the Transaction Consideration").                                              
Shareholders are referred to the payment terms of the Transaction Consideration,
as set out in the above announcement, and are advised that Pan African is       
pleased to announce that the outstanding balance of ZAR 12,089,536 of the       
Transaction Consideration will be paid to Metorex on 30 September 2009.         
Johannesburg                                                                    
30 September 2009                                                               
JSE Sponsor and Corporate Advisor                                               
Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited                   
For further information on Pan African Resources plc, please visit the website  
at www.panafricanresources.com                                                  
Enquiries:                                                                      
Pan African Resources                                                           
Jan Nelson, CEO                                                                 
+27 (0) 11 243 2900                                                             
Nicole Spruijt, Public Relations                                                
+27 (0) 11 243 2900                                                             
RBC Capital Markets                                                             
Martin Eales                                                                    
+44 (0) 20 7029 7881                                                            
Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited                   
Natalie Di-Sante                                                                
+27 (0) 11 750 0207                                                             
Sholto Simpson                                                                  
+27 (0) 11 750 0213                                                             
St James`s Corporate Services Limited                                           
Phil Dexter                                                                     
+44 (0) 20 7499 3916                                                            
FD Beachhead Media & Investor Relations                                         
Jennifer Cohen                                                                  
+27 (0) 11 214 2401                                                             
Louise Brugman                                                                  
+27 (0) 11 214 2415                                                             
+27 (0) 83 504 1186                                                             
Date: 30/09/2009 09:35:01 Supplied by www.sharenet.co.za                     
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