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 Resources 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:	Paul van Heerden
2.	Reason for the notification
a)	Position/status:	Prescribed Officer – Evander Gold Mining Proprietary Limited
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), volume(s) and date(s) of trade(s):	14,245 at R2.23 – 13 March 2020 10,000 at R1.99 – 19 March 2020
d)	Aggregated information:	R51,666.35
e)	Place of the transaction:	Johannesburg Stock Exchange

Additional information disclosed in accordance with the JSE Listings Requirements:

a)	Nature and extent of interest of executive:	Direct 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:	24,245

Johannesburg

19 March 2020

Sponsor: Questco Corporate Advisory Proprietary Limited