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
IIN: GB0004300496
("Pan African" or the “Company”)

DIRECTOR’S 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:	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 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): 28 September 2017	Price(s) Volume(s) ZAR2.35 5,762 ZAR2.35 5,387 ZAR2.35 5,498 ZAR2.35 13,110 ZAR2.36 15,243
d)	Aggregated information:	Total Volume(s) ZAR105,902.43 45,000
e)	Date of the transaction:	28 September 2017
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:	182,450

Johannesburg

29 September 2017

Corporate Office	Registered Office
The Firs Office Building	Suite 31
1st Floor, Office 101	Second Floor
Cnr. Cradock and Biermann Avenues	107 Cheapside
Rosebank, Johannesburg	London
South Africa	EC2V 6DN
Office:   + 27 (0) 11 243 2900	United Kingdom
Facsimile: + 27 (0) 11 880 1240	Office:   + 44 (0) 20 7796 8644
www.panafricanresources.com	Facsimile: + 44 (0) 20 7796 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) 20 7796 8644	Office: [phone]
Sholto Simpson	Ross Allister / Chris Burrows
One Capital	Peel Hunt LLP
JSE Sponsor	Joint Broker
Office: + 27 (0) 11 550 5009	Office: [phone]
Julian Gwillim	Jeffrey Couch / Neil Haycock / Thomas Rider
Aprio Strategic Communications	BMO Capital Markets Limited
Public & Investor Relations SA	Joint Broker
Office: [phone]	Office: [phone]
Bobby Morse / Chris Judd
Buchanan Communications
Public & Investor Relations UK
Office: [phone]