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PAN AFRICAN RESOURCES PLC - Trading Update

Release Date: 29/01/2014 09:00
Code(s): PAN     PDF:  
Wrap Text
Trading Update

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)
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496

TRADING UPDATE

In terms of paragraph 3.4(b) of the Listings Requirements of JSE Limited, a
listed company is required to publish a trading statement as soon as it is
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported on next, will differ by at least 20 per
cent from those of the previous corresponding period.      The Company advises
shareholders that it expects its earnings per share in South African Rand
(“ZAR”) terms will be over 20 per cent higher for the six months ended
31 December 2013 than those for the six months ended 31 December 2012.

Pan African is incorporated in England and Wales under Companies Act 1985 and
accordingly its presentation currency is Pound Sterling ("GBP").

Earnings per share and headline earnings per share, calculated in ZAR, using
the average ZAR:GBP exchange rate of 15.94 that prevailed for the six months
ended 31 December 2013 (six months ended 31 December 2012: 13.49), is expected
to be between 27 per cent and 34 per cent higher than those for the previous
corresponding period (six months ended 31 December 2012: 11.50 cents per
share). The earnings per share and headline earnings per share for the six
months ended 31 December 2013, denominated in GBP, is expected to be between
8 per cent and 15 per cent higher than those for the previous corresponding
period (six months ended 31 December 2012: 0.85 pence per share).

The financial information for the six months ended 31 December 2013 and
contained in this trading update has neither been reviewed nor reported on by
the Company`s auditors. It is anticipated that the Company's unaudited results
for   the  six   months  ended   31  December   2013  will   be  released   on
19 February 2014.

For further information on Pan African Resources plc, please visit the website
at www.panafricanresources.com

29 January 2014

JSE Sponsor
One Capital

PAN AFRICAN ENQUIRIES

South Africa                        UK


Pan African Resources               Canaccord Genuity Limited

Mr Ron Holding                      Nomad and Joint Broker
Chief Executive Officer             Neil Elliot / Peter Stewart / Joe Weaving
+27 (0) 11 243 2900                 +44 (0) 20 7523 8350

Vestor Investor Relations           finnCap Limited
Louise Brugman                      Joint Broker
+27 (0) 11 787 3015                 Elizabeth Johnson / Joanna Weaving
+27 83 504 1186                     +44 (0) 20 7220 0500

One Capital                         St James's Corporate Services Limited
Liezl Gildenhuys                    Phil Dexter
+27 (0) 11 550 5000                 +44 (0) 20 7796 8647

                                    Gable Communications
                                    Justine James
                                    +44 (0) 20 7193 7463 / +44 (0) 7525324431

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