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PAN AFRICAN RESOURCES PLC - TR-1: Notification of major interest in shares

Release Date: 10/10/2014 13:39
Code(s): PAN     PDF:  
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TR-1: Notification of major interest in shares

Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 with registered
number 3937466 on 25 February 2000)
AIM Code: PAF
JSE Code: PAN
ISIN: GB0004300496
("Pan African" or the “Company”)

                            TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

Pan African received the following notification on Friday, 10 October 2014:

“1. IDENTITY OF THE ISSUER OR THE UNDERLYING ISSUER OF EXISTING SHARES TO
WHICH VOTING RIGHTS ARE ATTACHED:
Pan African Resources Plc

2 REASON FOR THE NOTIFICATION:
An acquisition or disposal of voting rights: No
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of
shares already issued to which voting rights are attached: No
An acquisition or disposal of instruments with similar economic effect to qualifying financial
instruments: No
An event changing the breakdown of voting rights: No
Other (please specify): Yes – Holding decreased below 9% and 8% thresholds

3. FULL NAME OF PERSON(S) SUBJECT TO THE NOTIFICATION OBLIGATION:
Coronation Asset Management (Pty) Ltd

4. FULL NAME OF SHAREHOLDER(S) (IF DIFFERENT FROM 3.):
N/A

5. DATE OF THE TRANSACTION AND DATE ON WHICH THE THRESHOLD IS CROSSED OR
REACHED:
10 October 2014

6. DATE ON WHICH ISSUER NOTIFIED:
10 October 2014

7. THRESHOLD(S) THAT IS/ARE CROSSED OR REACHED:
9% and 8%

8. NOTIFIED DETAILS:

A: VOTING RIGHTS ATTACHED TO SHARES

-------------------------------------------------------------------------------------------------------------------------- ----
Class/type of shares                                               Situation previous to the triggering
if possible using the ISIN CODE                                                   transaction
                                                           Number of Shares                Number of Voting Rights
----------------------------------------------------------------------------------------------------------------------------- -
GB0004300496                                                     166,880,826                                           N/A




------------------------------------------------------------------------------------------------------------------------------
                                  Resulting situation after the triggering transaction:
---------------------------------------------------------------------------------------------------------------------------------------
Number of              Number of voting Number of voting                               % of voting
Shares -               rights -                   rights -                             rights
Direct                 Direct                     Indirect                             Direct                Indirect

---------------------------------------------------------------------------------------------------------------------------------------

140,538,942            N/A                        N/A                                  7.68%                N/A

B: QUALIFYING FINANCIAL INSTRUMENTS

----------------------------------------------------------------------------------------------------------------------------- ----------
                                 Resulting situation after the triggering transaction
----------------------------------------------------------------------------------------------------------------------------- ----------

Type of financial               Expiration            Exercise/Conversion              Number of voting                % of
instrument                      date                  Period                           rights that may be              voting
                                                                                       acquired if the                 rights
                                                                                       instrument is
                                                                                       exercised/converted
---------------------------------------------------------------------------------------------------------------------------------------
N/A                              N/A                  N/A                              N/A                             N/A
----------------------------------------------------------------------------------------------------------------------------- ----------


C: FINANCIAL INSTRUMENTS WITH SIMILAR ECONOMIC EFFECT TO QUALIFYING
FINANCIAL INSTRUMENTS

----------------------------------------------------------------------------------------------------------------------------- ----------
                                   Resulting situation after the triggering transaction
----------------------------------------------------------------------------------------------------------------------------- ----------

Type of financial               Exercise              Expiration            Exercise/             Number               % of
instrument                      price                 Date                  Conversion            of voting            voting
                                                                            Period                rights               rights
                                                                                                  instrument
                                                                                                  refers to
----------------------------------------------------------------------------------------------------------------------------- ----------
N/A                              N/A                  N/A                   N/A                   N/A                  N/A
----------------------------------------------------------------------------------------------------------------------------- ----------


TOTAL (A+B+C)

---------------------------------------------------------------------------------------------------------------------------------------
Number of voting rights                               Percentage of voting rights
----------------------------------------------------------------------------------------------------------------------------- ----------
140,538,942                                           7.68%

----------------------------------------------------------------------------------------------------------------------------------- ----


9. CHAIN OF CONTROLLED UNDERTAKINGS THROUGH WHICH THE VOTING RIGHTS
AND/OR THE FINANCIAL INSTRUMENTS ARE EFFECTIVELY HELD, IF APPLICABLE:

N/A
10. NAME OF THE PROXY HOLDER:

Coronation Asset Management (Pty) Ltd

11. NUMBER OF VOTING RIGHTS PROXY HOLDER WILL CEASE TO HOLD:

N/A

12. DATE ON WHICH PROXY HOLDER WILL CEASE TO HOLD VOTING RIGHTS:

N/A

13. ADDITIONAL INFORMATION:

N/A

14. CONTACT NAME:

Jamie Rowland

15. CONTACT TELEPHONE NUMBER:

Tel: +27 21 680 2000”



South Africa                                    UK

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

One Capital                                     Peel Hunt LLP
Regulatory Services                             Matthew Armitt / Ross Allister
+27 (0) 11 550 5000                             Joint Broker
                                                +44 (0) 20 7418 8900

Aprio Strategic Communications                  St James’s Corporate Services Limited
Financial Public Relations                      Phil Dexter
Julian Gwillim                                  +44 (0) 20 7796 8647
+27 (0) 11 880 0037
                                                Bell Pottinger
                                                Financial Public Relations
                                                Daniel Thöle
                                                +44 (0) 20 7861 3800


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


10 October 2014

JSE Sponsor
One Capital

Date: 10/10/2014 01:39:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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