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TR-1: Standard form for notification of major holdings
Pan African Resources PLC
(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
(“the Company”)
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in
Microsoft Word format if possible)i
1a. Identity of the issuer or the underlying
issuer of existing shares to which voting Pan African Resources plc
rights are attachedii:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name Ruffer LLP
City and country of registered office (if applicable) London, United Kingdom
4. Full name of shareholder(s) (if different from 3.)v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed
16 March 2020
or reachedvi:
6. Date on which issuer notified
18 March 2020
(DD/MM/YYYY):
7. Total positions of person(s) subject to the notification obligation
% of voting rights
% of voting rights Total number of
through financial Total of both in %
attached to shares voting rights of
instruments (8.A + 8.B)
(total of 8. A) issuervii
(total of 8.B 1 + 8.B 2)
Resulting situation
on the date on which
threshold was
5% 0% 5% 2,234,687,537
crossed or reached
Position of previous
notification (if N/A N/A N/A
applicable)
8. Notified details of the resulting situation on the date on which the threshold was crossed
or reachedviii
A: Voting rights attached to shares
Class/type of Number of voting rightsix % of voting rights
shares
ISIN code (if possible) Direct Indirect Direct Indirect
(Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive
2004/109/EC) (DTR5.1) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC)
(DTR5.2.1) (DTR5.2.1)
GB00BHB1XR83 112,710,483 0 5% 0%
SUBTOTAL 8. A 112,710,483 5%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1
(a))
Number of voting rights
Type of financial Expiration Exercise/ that may be acquired if
% of voting rights
instrument datex Conversion Periodxi the instrument is
exercised/converted.
N/A N/A N/A N/A N/A
SUBTOTAL 8. B 1 N/A N/A
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of
Directive 2004/109/EC (DTR5.3.1.1 (b))
Exercise/ Physical or
Type of financial Expiration Number of
Conversion cash % of voting rights
instrument datex voting rights
Period xi settlementxii
N/A N/A N/A N/A N/A N/A
SUBTOTAL N/A
8.B.2 N/A
9. Information in relation to the person subject to the notification obligation (please mark
the
applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not
control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii X
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 xiv
(please add additional rows as necessary)
% of voting rights
% of voting rights if through financial Total of both if it
it equals or is higher instruments if it equals or is higher
Namexv
than the notifiable equals or is higher than the notifiable
threshold than the notifiable threshold
threshold
N/A N/A N/A N/A
10. In case of proxy voting, please identify:
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
N/A
held
11. Additional informationxvi
Ruffer LLP now controls the voting rights over 112,710,483 shares (5% of the voting rights) of Pan African Resources
plc which are held by the discretionary clients of Ruffer LLP and its subsidiaries (the voting of which is all controlled
by Ruffer LLP).
This change from less than 5% to 5% is due to a purchase of 2,000,000 shares by Ruffer LLP on 16 March 2020.
Place of completion Ruffer LLP
Date of completion 18/03/2020
Johannesburg
18 March 2020
Sponsor: Questco Corporate Advisory Proprietary Limited
Date: 18-03-2020 05:45:00
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