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PAN AFRICAN RESOURCES PLC - Directors dealings in securities - Cobus Loots

Release Date: 14/05/2024 11:00
Code(s): PAN PARS01 PARS02     PDF:  
Wrap Text
Director’s dealings in securities - Cobus Loots

Pan African Resources PLC                               Pan African Resources Funding Company
(Incorporated and registered in England and Wales       Limited
under the Companies Act 1985 with registered            Incorporated in the Republic of South
number 3937466 on 25 February 2000)                     Africa with limited liability
Share code on AIM: PAF                                  Registration number: 2012/021237/06
Share code on JSE: PAN                                  Alpha code: PARI
ISIN: GB0004300496
ADR ticker code: PAFRY
("Pan African Resources" or the "Company")


                           DEALING NOTIFICATION FORM
                         CLOSELY ASSOCIATED PERSONS
The Company announces that it has received notification that on 9 May 2024, LTS Ventures (Pty)
Ltd, an entity associated with Chief Executive Officer Cobus Loots, entered into the following

      •   Collar transactions for 3,007,222 ordinary shares of 1p each in Pan African Resources

      •   The purchase of 711,744 ordinary shares of 1p each in Pan African Resources

      •   The advance of a loan of ZAR 11,340,187.01 for a term of 2 years with 3,007,222 shares
          pledged as security for the loan and the dividend on these secured shares sacrificed for the
          loan's tenure.

Following this transaction, Mr Loots has an indirect beneficial interest of 5,896,248 ordinary shares,
representing 0.2653 % of the Company's issued share capital and a direct beneficial interest of
1,873,982 ordinary shares, representing 0.0843% of the Company's issued share capital and
314,280 open contracts for differences (CFDs).

The below information and notification are made in accordance with the EU Market Abuse
Regulation and the JSE Listings Requirements.

 1.                         Details of the person
                            discharging managerial
                            responsibilities/person closely

 a)                         Name:                                Cobus Loots

 2.                         Reason for the notification

 a)                         Position/status:                     Chief Executive Officer

 b)                         Initial notification/Amendment:      Initial notification
 3.                         Details of the issuer, emission
                            allowance market participant,
                            auction platform, auctioneer or
                            auction monitor

 a)                         Company name:                       Pan African Resources PLC

 b)                         LEI:                                213800EAXURCXMX6RL85

 4.                         Details of the transaction(s):
                            section to be repeated for (i)
                            each type of instrument; (ii)
                            each type of transaction; (iii)
                            each date; and (iv) each place
                            where transactions have been

 a)                         Description of the financial        Ordinary shares of 1p each
                            instrument, type of instrument:

                                                                Identification code:

 b)                         Nature of the transaction:          Trade 1: Collar structure
                                                                Trade 2: Acquisition of shares
                                                                Trade 3: Security for loan

 c)                         Price(s) and volume(s):             Trade 1: Collar structure over
                                                                3,007,222 shares. Put option
                                                                strike price (bought) ZA449.6
                                                                cents per share. Call option
                                                                strike price (sold) ZA 906.81
                                                                cents per share.
                                                                Trade 2: Acquisition of 711,744
                                                                shares at ZA 562 cents per
                                                                Trade 3: Pledged 3,007,222
                                                                shares with a dividend sacrifice
                                                                as security for a 2 year term
                                                                loan of ZAR 11,340,187.01.

 d)                         Aggregated information:             Trade 1: Collar structure over
                                                                Trade 2: Acquisition value of
                                                                Trade   3:  Loan        amount

 e)                         Dates of the transactions:          9 May 2024

 f)                         Place of the transaction:           Johannesburg Stock Exchange

Additional information disclosed in accordance with the JSE Listings Requirements:
 a)     Nature of interest of executive:                      Trade 1: Indirect beneficial
                                                              Trade 2: Indirect beneficial
                                                              Trade 3: Indirect beneficial

 b)     On-market or off-market:                              Trade 1: Off-market
                                                              Trade 2: On-market
                                                              Trade 3: Off-market

 c)     Clearance given in terms of paragraph 3.66 of the     Yes
        JSE Listings Requirements:

 d)     Total value of transactions                           Trade 1: No premium
                                                              Trade 2: ZAR4,000,001.28
                                                              Trade 3: ZAR11,340,187.01

 e)     Holding following transactions:                       Indirect beneficial 5,896,248
                                                              ordinary shares
                                                              Direct beneficial 1,873,982
                                                              ordinary shares
                                                              314,280 open CFDs


14 May 2024

For further information on Pan African, please visit the Company's website at

 Corporate information

 Corporate office                                 Registered office
 The Firs Building                                2nd Floor
 2nd Floor, Office 204                            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)20 7796 8644                         

 Chief executive officer                          Financial director
 Cobus Loots                                      Deon Louw
 Office: + 27 (0)11 243 2900                      Office: + 27 (0)11 243 2900
 Head: Investor relations                         Website:
 Hethen Hira
 Tel: + 27 (0)11 243 2900

 Company secretary                                Nominated adviser and joint broker
 Jane Kirton                                      Ross Allister/Georgia Langoulant
 St James's Corporate Services Limited            Peel Hunt LLP                                 
 Office: + 44 (0)20 7796 8644                     Office: +44 (0)20 7418 8900
 JSE Sponsor and JSE debt sponsor                 Joint broker
 Ciska Kloppers                                   Thomas Rider/Nick Macann
 Questco Corporate Advisory Proprietary Limited   BMO Capital Markets Limited
 Office: + 27 (0)11 011 9200                      Office: +44 (0)20 7236 1010
                                                  Joint broker
                                                  Matthew Armitt/Jennifer Lee
                                                  Joh. Berenberg, Gossler & Co KG
                                                  Office: +44 (0)20 3207 7800

Date: 14-05-2024 11:00:00
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