PAN AFRICAN RESOURCES PLC - Retirement of Ron Holding and appointment of new CEO

Retirement of Ron Holding and appointment of new CEO

Pan African Resources PLC
("Pan African" or the “Company" or the “Group”)
(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

                  RETIREMENT OF RON HOLDING AND APPOINTMENT OF NEW CEO

   Pan African wishes to advise shareholders that Ron Holding (62) will retire
   as Chief Executive Officer (“CEO”) of the Group with effect from
   1 March 2015. He will be succeeded as CEO by Cobus Loots (37), who is
   currently the Finance Director (“FD”) of Pan African.

   To ensure that Mr. Holding’s experience and knowledge is retained by the
   Group,   an  exclusive   consulting agreement  will   be  concluded with
   Mr. Holding, effective 1 March 2015. This arrangement will be for a
   minimum period of one year.

   Mr. Loots has been a director of Pan African since 2009, and was also
   previously the Group’s joint interim CEO from March 2013 to September 2013.
   Mr. Loots is a CA(SA) and a CFA ® charterholder. He completed his articles
   and was an audit manager with Deloitte & Touché, after which he was
   employed in Macquarie Africa’s mining corporate finance business. Prior to
   joining Pan African on a permanent basis, Cobus was the managing director
   of Shanduka Resources, where he was directly responsible for the oversight
   of Shanduka’s mining and minerals investment portfolio. During his time at
   Shanduka, Cobus was instrumental in executing the Pan African empowerment
   transaction with Shanduka.

   Messrs Holding and Loots have successfully driven the execution of Pan
   African’s strategy over the last few years.

   The board of Pan African will announce a Group FD appointment, to replace
   Mr Loots, in due course.

   Keith Spencer, Chairman of Pan African, commented: “The Group and board of
   directors wish to thank Ron for his dedication during his tenure as CEO,
   and we look forward to his continued involvement."

   The appointment of Cobus as CEO secures the long-term stability and
   continuity of executive management.      Cobus is very familiar with our
   business and those issues critical to the success thereof.

   Pan African will continue delivering value to shareholders and other
   stakeholders”.



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

5 February 2015
Contact Details

Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office:   + 27 (0) 11 243 2900
Facsmile: + 27 (0) 11 880 1240

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom

Office:   + 44 (0) 207 796 8644
Facsmile: + 44 (0) 207 796 8645

Ron Holding                             Cobus Loots
Pan African Resources PLC               Pan African Resources PLC
Chief Executive Officer                 Finance Director
Office: + 27 (0)11 243 2900             Office: + 27 (0) 11 243 2900

Phil Dexter                             Peter Stewart
St James's Corporate Services Limited   Canaccord Genuity Limited
Company Secretary                       Nominated Adviser
Office: + 44 (0)207 796 8644            Office: +44 (0)207 523 8000

Sholto Simpson                          Matthew Armitt / Ross Allister
One Capital                             Peel Hunt LLP
JSE Sponsor                             Joint Broker
Office: + 27 (0)11 550 5009             Office: +44 (0)020 7418 8900

Julian Gwillim                          Daniel Thöle
Aprio Strategic Communications          Bell Pottinger PR
Public & Investor Relations SA          Public & Investor Relations UK
Office: +27 (0)11 880 0037              Office: + 44 (0)203 772 2500



www.panafricanresources.com

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