Director/PDMR Shareholding

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”)

DIRECTORS’ DEALINGS IN SECURITIES

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
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:	Not applicable
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 conducted
a)	Description of the financial instrument, type of instrument:	Ordinary shares of 1p each Identification code: GB0004300496
b)	Nature of the transaction:	Acquisition of ordinary shares
c)	Price(s) and volume(s): 5 October 2016	Price(s) Volume(s) ZAR3.55 30,000
d)	Aggregated information:	Total Volume(s) ZAR106,500 30,000
e)	Date of the transaction:	5 October 2016
f)	Place of the transaction:	Johannesburg Stock Exchange

Additional information disclosed in accordance with the JSE Listings Requirements:

a)	Nature of interest of executive:	Beneficial
b)	On-market or off-market:	On-market
c)	Clearance given in terms of paragraph 3.66 of the JSE Listings Requirements:	Yes
d)	Holding following transactions:	560,675

Correction of announcement dated 28 September 2016 and confirmation of historical share purchases by the executive directors in line with Market Abuse Regulations requirements of AIM listed companies and submission to the Financial Conduct Authority:

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Cobus Loots
2.	Reason for the notification
a)	Position/status:	Chief Executive Officer
b)	Initial notification/Amendment:	Amendment
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Company name:	Pan African Resources PLC
b)	LEI:	Not applicable
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 conducted
a)	Description of the financial instrument, type of instrument:	Ordinary shares of 1p each Identification code: GB0004300496
b)	Nature of the transaction:	Acquisition of ordinary shares
c)	Price(s) and volume(s): 27 September 2016 28 September 2016	Price(s) Volume(s) ZAR3.57 20,000 Price(s) Volume(s) ZAR3.58 200,000 Price(s) Volume(s) ZAR3.48 28,609
d)	Aggregated information:	Total Volume(s) ZAR886,959.32 248,609
e)	Date of the transaction:	27-28 September 2016
f)	Place of the transaction:	Johannesburg Stock Exchange

Additional information disclosed in accordance with the JSE Listings Requirements:

a)	Nature of interest of executive:	Beneficial
b)	On-market or off-market:	On-market
c)	Clearance given in terms of paragraph 3.66 of the JSE Listings Requirements:	Yes
d)	Holding following transactions on 28 September 2016:	480, 184

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Deon Louw
2.	Reason for the notification
a)	Position/status:	Financial Director
b)	Initial notification/Amendment:	Clarification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Company name:	Pan African Resources PLC
b)	LEI:	Not applicable
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 conducted
a)	Description of the financial instrument, type of instrument:	Ordinary shares of 1p each Identification code: GB0004300496
b)	Nature of the transaction:	Acquisition of ordinary shares
c)	Price(s) and volume(s): 27 September 2016	Price(s) Volume(s) ZAR3.57 4,300 ZAR3.58 3,150 ZAR3.62 35,000 ZAR3.64 40,000 ZAR3.66 12,836 ZAR3.67 42,164
d)	Aggregated information:	Total Volume(s) ZAR500,649.64 137,450
e)	Date of the transaction:	27 September 2016
f)	Place of the transaction:	Johannesburg Stock Exchange

Additional information disclosed in accordance with the JSE Listings Requirements:

a)	Nature of interest of executive:	Beneficial
b)	On-market or off-market:	On-market
c)	Clearance given in terms of paragraph 3.66 of the JSE Listings Requirements:	Yes
d)	Holding following transactions on 28 September 2016:	137, 450

Johannesburg

5 October 2016

CONTACT INFORMATION

Corporate Office

The Firs Office Building

1st Floor, Office 101

Cnr. Cradock and Biermann Avenues

Rosebank, Johannesburg

South Africa

Office:   + 27 (0) 11 243 2900

Facsimile: + 27 (0) 11 880 1240

Registered Office

Suite 31

Second Floor

107 Cheapside

London

EC2V 6DN

United Kingdom

Office:   + 44 (0) 207 796 8644

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: [phone]

Sholto Simpson                                                     Matthew Armitt / Ross Allister

One Capital                                                Peel Hunt LLP

JSE Sponsor                                             Joint Broker

Office: + 27 (0) 11 550 5009                        Office: [phone]

Julian Gwillim                                              Daniel Thöle

Aprio Strategic Communications                  Bell Pottinger PR

Public & Investor Relations SA                    Public & Investor Relations UK

Office: [phone]                         Office: + 44 (0) 203 772 2500

Jeffrey Couch/Neil Haycock/Thomas Rider

BMO Capital Markets Limited

Joint Broker

Office: [phone]

www.panafricanresources.com