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PAF - Pan African Resources plc - Exercise of options 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` or the `Company`) EXERCISE OF OPTIONS Pan African announces that the following issues of Pan African ordinary shares of 1p each ("Shares") have been made, following the exercise of share options granted under the Company`s share option plan: 6,000,000 Shares were issued at a price of 7p per Share, for a total consideration of GBP420,000; and 4,000,000 Shares were issued at a price of 5.5p per Share, for a total consideration of GBP220,000. Application will be made today, to the AIM market of the London Stock Exchange ("AIM") and to the Main Board of JSE Limited ("JSE") for 10,000,000 shares to be admitted to trading on AIM and for listing on the JSE, with admission to trading and listing on both markets expected to occur on 25 November 2010. Following the above issues of shares, the total issued share capital of the Company comprises 1,444,040,711 Shares. Rosebank 18 November 2010 JSE Sponsor MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED For further information on Pan African Resources plc, please visit the website at www.panafricanresources.com Enquiries South Africa UK Pan African RBC Capital Markets Jan Nelson, Chief Executive Martin Eales / Brett Officer Jacobs +27 (0) 11 243 2900 +44 (0) 20 7653 4000 Macquarie First South Advisers St James`s Corporate (Pty) Ltd Services Limited Melanie de Nysschen / Yvette Phil Dexter Labuschagne / Annerie Britz +44 (0) 20 7499 3916 +27 (0) 11 583 2000 Vestor Media & Investor Hansard Communications Relations Justine James Louise Brugman +44 (0) 20 7245 1100 / +27 (0) 11 787 3015 +44 (0) 7525 324431 Date: 18/11/2010 09:00:39 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
