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PAN - Pan African Resources Plc - Dealings by an associate of an non- executive director Pan African Resources PLC (`Pan African` or the `Company`) Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000 AIM: PAF/JSE: PAN ISIN: GB0004300496 RBC comments DEALINGS BY AN ASSOCIATE OF AN NON-EXECUTIVE DIRECTOR The Company was notified on Tuesday 18 October 2011 that Pangea Exploration (Pty) Ltd ("Pangea"), a private company of which Mr Rob Still is an director, had declared a dividend in specie (the "Dividend") to its shareholders on Saturday, 1 October 2011. Mr Still is also a trustee of the Alexandra Trust a major shareholder of Pangea. The Alexandra Trust received 12,430,900 ordinary shares of 1 pence each in the Company ("Shares") at a price of ZAR1.46 per Share, with a total value of ZAR18,149,114, as a consequence of the Dividend. Following this off-market transaction Mr Still`s total direct, beneficial interest in Pan African remains unchanged at 2,000,000 Shares, representing 0.14% of the issued share capital of the Company as well as his total indirect, non-beneficial interest of 16,755,308 Shares representing 1.16% of the issued share capital of the Company. Mr Still did not receive any direct or indirect benefit from this off- market transaction. Johannesburg 20 October 2011 JSE Sponsor MACQUARIE FIRST SOUTH CAPITAL (PTY) LIMITED For further information on Pan African Resources plc, please visit the website at www.panafricanresources.com. Enquiries: Pan African Resources Jan Nelson, Chief Executive Officer +27 (0) 11 243 2900 Nicole Spruijt, Public Relations +27 (0) 11 243 2900 RBC Capital Markets Martin Eales / James Kelly +44 (0) 20 7029 7881 Macquarie First South Capital (Pty) Limited Melanie de Nysschen / Annerie Britz / Yvette Labuschagne +27 (0) 11 583 2000 St James`s Corporate Services Limited Phil Dexter +44 (0) 20 7499 3916 Gable Communications Justine James +44 (0)20 7193 7463 Date: 20/10/2011 10:22:01 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.
