To view the PDF file, sign up for a MySharenet subscription.

PAN - Pan African Resources plc - Wage negotiations concluded at

Release Date: 27/07/2011 09:45
Code(s): PAN
Wrap Text

PAN - Pan African Resources plc - Wage negotiations concluded at Barberton Mines 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`) Wage Negotiations Concluded at Barberton Mines Pan African announces that it has successfully negotiated with the National Union of Mineworkers (`NUM`) on wages and other conditions of employment for the 2011/2012 financial year. The one-year agreement has been concluded with employees represented by the NUM and amounts to an average increase of 11% across the board. The NUM employees will furthermore receive an increase to their housing allowance from ZAR1,100 per month to ZAR1,300 per month. These increases are effective from 1 July 2011. Pan African is not a member of the Chamber of Mines and as it has successfully concluded the wage negotiations will not be affected by any strike action by the NUM. Johannesburg 27 July 2011 JSE Sponsor Macquarie First South Advisers (Pty) Limited For further information on Pan African, please visit the website at www.panafricanresources.com Enquiries: South Africa UK Pan African RBC Capital Markets Jan Nelson, Chief Executive Martin Eales Officer +44 (0) 20 7029 7881 +27 (0) 11 243 2900 Pan African St James`s Corporate Services Nicole Spruijt, Public Limited Relations Phil Dexter +27 (0) 11 243 2900 +44 (0) 20 7499 3916 Macquarie First South Advisers Gable Communications (Pty) Ltd Justine James Melanie de Nysschen/ Annerie +44 (0)20 7193 7463 Britz/ Yvette Labuschagne +27 (0) 11 583 2000 Date: 27/07/2011 09:45:00 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.

Share This Story