Fulfilment of all Conditions Precent - Phoenix ...

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”)

FULFILMENT OF ALL CONDITIONS PRECEDENT TO THE SALE OF PHOENIX PLATINUM MINING PROPRIETARY LIMITED (“PHOENIX PLATINUM”)

Further to the announcement published on 31 July 2017, Pan African is pleased to announce that all conditions precedent to the disposal of 100% of the shares and loan accounts in Phoenix Platinum to Sylvania Platinum Limited (“Transaction”) have now been fulfilled.

This follows, amongst other conditions, the approval of the Transaction by the South African Competition Authorities in accordance with the Competition Act, No. 89 of 1998.

The effective date of the Transaction is 6 November 2017, following the cash settlement of the Transaction consideration of R89 million or approximately US$6.3 million.

By order of the Board

Johannesburg

7 November 2017

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   Pan African Resources PLC Chief Executive Officer  Office: + 27 (0) 11 243 2900	Deon Louw Pan African Resources PLC Financial Director Office: + 27 (0) 11 243 2900
Phil Dexter St James's Corporate Services Limited Company Secretary Office: + 44 (0) 207 796 8644	John Prior / Paul Gillam Numis Securities Limited Nominated Adviser, Joint Broker Office: [phone]
Sholto Simpson One Capital JSE Sponsor Office: + 27 (0) 11 550 5009	Ross Allister / Chris Burrows Peel Hunt LLP Joint Broker Office: [phone]
Jeffrey Couch/Neil Haycock/Thomas Rider BMO Capital Markets Limited Joint Broker Office: [phone]	Bobby Morse/Chris Judd Buchanan Communications Public & Investor Relations UK Office: + 44 (0) 207 466 5000
Julian Gwillim Aprio Strategic Communications Public & Investor Relations SA Office: [phone]   www.panafricanresources.com