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

Release Date: 04/06/2018 12:05
Code(s): PAN
 
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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 Monday, 4 June 2018:

1(a). IDENTITY OF THE ISSUER OR THE UNDERLYING ISSUER OF EXISTING SHARES TO
WHICH VOTING RIGHTS ARE ATTACHED:
Pan African Resources PLC

1(b). Please indicate if the issuer is a non-UK issuer:
UK issuer

2. REASON FOR THE NOTIFICATION:
An acquisition or disposal of voting rights: Yes
An acquisition or disposal of financial instruments: No
An event changing the breakdown of voting rights: No
Other (please specify): No

3. FULL NAME OF PERSON(S) SUBJECT TO THE NOTIFICATION OBLIGATION:
Coronation Asset Management (Pty) Limited (acting as discretionary investment manager on behalf of
managed portfolios).

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

5. DATE ON WHICH THE THRESHOLD IS CROSSED OR REACHED:
4 June 2018

6. DATE ON WHICH ISSUER NOTIFIED:
4 June 2018

7. TOTAL POSITIONS OF PERSON(S) SUBJECT TO THE NOTIFICATION OBLIGATION:

---------------------------------------------------------------------------------------------------------------------------------------
                                                           % of voting rights                   % of voting rights through
                                                           attached to shares                   through financial instruments
                                                           (total of 8.A)                       (total 8.B 1 + 8.B 2)
------------------------------------------------------------------------------------------------------------------------------- --------
Resulting situation on the
Date on which threshold was
Crossed or reached                                          7.95%                               0%
----------------------------------------------------------------------------------------------------------------------------- ----------
Position of previous
Notification (if applicable)                                4.03%                               0%
----------------------------------------------------------------------------------------------------------------------------- ----------
------------------------------------------------------------------------------------------- --------------------------------------------
                                                           Total of both in %                   Total number of voting rights
                                                           (8.A + 8.B)                          of issuer
----------------------------------------------------------------------------------------------------------------------------- ----------
Resulting situation on the
Date on which threshold was                                 7.95%                                2 234 687 537
Crossed or reached
----------------------------------------------------------------------------------------------------------------------------- ----------
Position of previous
Notification (if applicable)                                4.03%
----------------------------------------------------------------------------------------------------------------------------- ----------


8. NOTIFIED DETAILS OF THE RESULTING SITUATION ON THE DATE ON WHICH THE
THRESHOLD WAS CROSSED OR REACHED:

A: VOTING RIGHTS ATTACHED TO SHARES

---------------------------------------------------------------------------------------------------------- -----------------------------
Class/type              Number of voting              Number of voting                    % of voting              % of voting
of shares               rights -                      rights -                             rights                   rights
ISIN code               Direct                        Indirect                             Direct                   Indirect
(if possible)
---------------------------------------------------------------------------------------------------------------------------------------
GB0004300496           177 695 812                      N/A                                  7.95%                     N/A
 --------------------------------------------------------------------------------------------------------------------------------------
SUBTOTAL 8.A                        177 695 812                                                          7.95%
----------------------------------------------------------------------------------------------------------------------------- ---------

B 1: FINANCIAL INSTRUMENTS

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

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


B 2: FINANCIAL INSTRUMENTS WITH SIMILAR ECONOMIC EFFECT

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

Type of financial               Expiration            Exercise /            Physical or           Number                % of voting
instrument                      Date                  Conversion            Cash                  of voting             rights
                                                      Period                Settlement            rights
---------------------------------------------------------------------------------------------------------- -----------------------------
N/A                              N/A                  N/A                   N/A                   N/A                   N/A
----------------------------------------------------------------------------------------------------------------------------- ----------
9. INFORMATION IN RELATION TO THE PERSON SUBJECT TO THE NOTIFICATION
OBLIGATION:

Full chain of controlled undertakings through which the voting rights and/or the financial instruments
are effectively held starting with the ultimate controlling natural person or legal entity.

---------------------------------------------------------------------------------------------------------------------------------------
Name                             % of voting rights                         % of voting rights               Total of both if it
                                 If it equals or is higher                  through financial                equals or is higher
                                 than the notifiable                        instruments if it                than the notifiable
                                 threshold                                  equals or is higher              threshold
                                                                            than the notifiable
                                                                            threshold
-------------------------------------------------------------------------------------------------------- -------------------------------
  Coronation Asset               7.95%                                      N/A                              7.95%
  Management (Pty)
  Limited
----------------------------------------------------------------------------------------------------------------------------- ----------


10. NAME OF THE PROXY HOLDER: N/A

     THE NUMBER AND % OF VOTING RIGHTS HELD: N/A

     THE DATE UNTIL WHICH THE VOTING RIGHTS WILL BE HELD: N/A


11. ADDITIONAL INFORMATION: N/A



Johannesburg
4 June 2018




Contact information

Corporate Office                                                    Registered Office
The Firs Office Building                                            Suite 31, Second Floor
1st Floor, Office 101                                               107 Cheapside
Cnr. Cradock and Biermann Avenues                                   London
Rosebank, Johannesburg                                              EC2V 6DN
South Africa                                                        United Kingdom
Office: + 27 (0) 11 243 2900                                        Office: + 44 (0) 207 796 8644
Facsimile: + 27 (0) 11 880 1240                                     Facsimile: + 44 (0) 207 796 8645

Cobus Loots                                                         Deon Louw
Pan African Resources PLC                                           Pan African Resources PLC
Chief Executive Officer                                             Financial Director
Office: + 27 (0) 11 243 2900                                        Office: + 27 (0) 11 243 2900

Phil Dexter                                                         John Prior / Paul Gillam
St James's Corporate Services Limited                               Numis Securities Limited
Company Secretary                                                   Nominated Adviser and Joint Broker
Office: + 44 (0) 207 796 8644                                       Office: +44 (0) 20 7260 1000

Sholto Simpson                                                      Matthew Armitt / Ross Allister
One Capital                                                         Peel Hunt LLP
JSE Sponsor                                                         Joint Broker
Office: + 27 (0) 11 550 5009                                        Office: +44 (0) 207 418 8900

Julian Gwillim                                                      Jeffrey Couch/Neil Haycock/Thomas Rider
Aprio Strategic Communications                                      BMO Capital Markets Limited
Public & Investor Relations SA                                      Joint Broker
Office: +27 (0)11 880 0037                                          Office: +44 (0) 207 236 1010

Bobby Morse/Chris Judd
Buchanan Communications
Public & Investor Relations UK
Office: +44 (0) 207 466 5000


www.panafricanresources.com

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