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PAN AFRICAN RESOURCES PLC - Directors dealings in securities - Deon Louw

Release Date: 14/05/2024 11:00
Code(s): PAN PARS01 PARS02     PDF:  
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Director’s dealings in securities - Deon Louw

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 10 May 2024, the Finance Director
Deon Louw, entered into the following transactions:

      •   The transfer of 2 000 000 ordinary shares from Figit (Pty) Ltd, an entity associated with
          Deon Louw, into his own name

      •   Collar transaction for 2,728,254 ordinary shares of 1p each in Pan African Resources

      •   The purchase of 728 254 ordinary shares of 1p each in Pan African Resources

      •   The advance of a loan of ZAR 11,262,492.85 for a term of 1 year with 2,728,254 shares
          pledged as security for the loan and the dividend on these secured shares sacrificed for the
          loan's tenure.

Following this transaction, which is detailed in the PDMR Notification Dealing Form below, Mr Louw
has an indirect beneficial interest of 1,122,349 ordinary shares, representing 0.0505% of the
Company's issued share capital and a direct beneficial interest of 3,851,114 ordinary shares,
representing 0.1733% of the Company's issued share capital.

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 associated

a)   Name:                                              Deon Louw

2.   Reason for the notification

a)   Position/status:                                   Finance Director

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 instrument, type of   Ordinary shares of 1p each

                                                        Identification code: GB0004300496

b)   Nature of the transaction:                         Trade 1: Transfer
                                                        Trade 2: Collar structure
                                                        Trade 3: Acquisition of shares
                                                        Trade 4: Security for loan

c)   Price(s) and volume(s):                            Trade 1: Transfer 2,000,000
                                                        ordinary shares for nil consideration
                                                        Trade 2: Collar structure over
                                                        2,728,254 shares. Put option strike
                                                        price (bought) ZA449.6 cents per
                                                        share and call option strike price
                                                        (sold) ZA 769.65 cents per share for
                                                        2,000,000 shares. Put option strike
                                                        price (bought) ZA456.0 cents per
                                                        share and call option strike price
                                                        (sold) ZA 780.608 cents per share
                                                        for 728,254 shares.
                                                        Trade 3: Acquisition of 728,254
                                                        shares. VWAP ZA 5.65 cents per

                                                         Price(s)           Volume(s)
                                                         (ZA cents per

                                                         563.00             548,143

                                                         570.00             180,111

                                                        Trade 4: Pledged 2,728,254 shares
                                                        with a dividend sacrifice as security
                                                        for a 1 year term loan of ZAR
d)     Aggregated information:                          Trade 1: Transfer 2,000,000
                                                        ordinary shares for nil consideration
                                                        Trade 2: Collar structure over
                                                        Trade 3: Acquisition value of
                                                        Trade    4:    Loan amount

e)     Dates of the transaction:                        10 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: Direct beneficial
                                                              Trade 2: Direct beneficial
                                                              Trade 3: Direct beneficial
                                                              Trade 4: Direct beneficial

 b)     On-market or off-market:                              Trade 1: Off-market
                                                              Trade 2: Off-market
                                                              Trade 3: On-market
                                                              Trade 4: Off-market

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

 d)     Total value of transaction                            Trade 1: Nil consideration
                                                              Trade 2: No premium
                                                              Trade 3: ZAR4,112,677.79
                                                              Trade 4: ZAR11,262,492.85

 e)     Holding following transactions:                       Indirect beneficial 1,122,349
                                                              ordinary shares,
                                                              Direct beneficial 3,851,114
                                                              ordinary shares


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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