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PAN AFRICAN RESOURCES PLC - Pan African's Acquisition of Evander Gold Mines Limited from Harmony becomes unconditional

Release Date: 15/02/2013 10:00:00      Code(s): PAN HAR       PDF(s):  
Pan African's Acquisition of Evander Gold Mines Limited from Harmony becomes unconditional

Pan African Resources PLC                                    Harmony Gold Mining Company Limited
(Incorporated and registered in England and                  Registration number 1950/038232/06
Wales under Companies Act 1985                               Incorporated in the Republic of South Africa
with registered number 3937466 on 25 February                ISIN: ZAE000015228
2000)                                                        NYSE code: HMY
AIM Code: PAF                                                JSE share code: HAR
JSE Code: PAN                                                (“Harmony”)
ISIN: GB0004300496
(“Pan African”)


Pan African and Harmony are pleased to advise their shareholders that the last remaining condition
precedent to the Transaction has been fulfilled following receipt of the consent required in accordance
with section 11 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002.

Accordingly, the Transaction is now unconditional.

Pan African shall assume effective control over Evander on 28 February 2013.

Jan Nelson, CEO of Pan African said:
“We are delighted to finally take full control of Evander – a world class ore body and exceptional team
of people will ensure that Pan African continues to deliver profitable, sustainable stakeholder growth.
In addition to the 100koz of annual gold production, Evander also provides Pan African with a project
pipeline that provides for significant growth possibilities and flexibility.

I would like to thank Harmony on behalf of the board of Pan African for the manner and spirit in which
the transaction was concluded. We welcome the Evander team and look forward to an exciting

Graham Briggs, CEO of Harmony said:
“The proceeds from the Evander sale further strengthen Harmony’s cash position. We are leaving
Evander in the hands of a capable management team, who we believe will run the mine in a
sustainable manner.”

15 February 2013

Lead       Corporate     Adviser,      Transaction         Corporate Adviser to Harmony
Sponsor and JSE Sponsor to Pan African
One Capital                                                Merrill Lynch South Africa

Joint Corporate Adviser and Independent                    Sponsor to Harmony
Transaction Sponsor to Pan African
Nedbank Capital                                      J. P. Morgan Equities South Africa (Pty) Ltd

Legal Counsel to Pan African                         Legal Counsel to Harmony
Werksmans Inc.                                       Edward Nathan Sonnenbergs Inc.


South Africa                                       UK

Pan African Resources                              Canaccord Genuity Limited – Nomad and Joint Broker
Jan Nelson, Chief Executive Officer                Rob Collins / Peter Stewart / Sebastian Jones / Joe
+27 (0) 11 243 2900                                Weaving
                                                   +44 (0) 20 7523 8350

One Capital                                        finnCap Limited – Joint Broker
Sholto Simpson / Megan Young                       Elizabeth Johnson / Joanna Weaving
+27 (0) 11 550 5000                                +44 (0) 20 7220 0500

Vestor Investor Relations                          St James’s Corporate Services Limited
Louise Brugman                                     Phil Dexter
+27 (0) 11 787 3015                                +44 (0) 20 7499 3916
+27 83 504 1186

                                                   Gable Communications
                                                   Justine James
                                                   +44 (0) 20 7193 7463 / +44 (0) 7525 324431

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


Henrika Basterfield
Investor Relations Officer
+27 (0) 82 759 1775 (mobile)

Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)

For further information on Harmony, please visit the website at www.harmony.co.za

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